Posted by M.Osterman on July 30, 2003 at 11:06:18:
John,
Could I speak with you as to this as well.I’m in the same boat.
Mike Osterman
Getting lender to postpone sheriff sale - Posted by IB (NJ)
Posted by IB (NJ) on July 29, 2003 at 22:20:08:
I’m working with an owner who’s trying to save her home from foreclosure sale. The lender is considering a short sale but first wants to review a completed short sale package. The family members (her cousin, an RE investor is helping her) is still tryoing to get all the docs to me to send to the lender. But I’m concerned the 8/5 deadline date might not give us enough time. We’ve already used up our 2 allowed postponments. Has anyone had luck getting the lender to postpone the sale? Do they send you something in writing to confirm the postponment?
As a victim of this nonsense… - Posted by Ben (NJ)
Posted by Ben (NJ) on July 31, 2003 at 18:13:34:
I can tell you all about it. After the two postponements are up, all the owner does is show up and give a sob story to the judge that he has nowhere to go, that he just learned about all this, its a total surprise to him, he needs time to find a place etc. The judge will give him 30 days based on the fact that “no irreparable harm” will be done to the lender during a mere 30 day extension . On the twenty ninth day he will send his wife to cry to the judge. She will say her husband just told her last night about this whole thing. She is about to have a breakdown and needs another thirty days to get things straight. 29 days later, they will file bankruptcy. That will take a month or two to get dismissed. Now the sheriff sale date is no good anymore so you will need to schedule a new sheriff’s sale. Of course the deadline for next week’s sale just passed so your sale won’t be for another two weeks. They will file bankruptcy again at the last minute. This time you will file an abuse motion. The judge they have been sandbagging for months happens to be on vacation. New judge has a sympathetic ear. It will take a few more weeks but the sheriff’s sale may actually take place! (PS-wanna hear how long the eviction will take?) Jeez, I’m starting to sound like Potash! LOL
Re: Getting lender to postpone sheriff sale - Posted by JohnB_NJ
Posted by JohnB_NJ on July 30, 2003 at 08:02:49:
IB,
Email me privately with you phone number and I will instruct you.
John
ROFLOL! - Posted by IB (NJ)
Posted by IB (NJ) on August 01, 2003 at 15:35:24:
You crack me up Ben…Well I’m helping these folks out as a favor (seller’s actually selling me a vacant lot she owns in another town) so I, let alone the judge and lender, don’t have time for that nonsense. But it’s nice to know that we may be able to get a little more time. The only thing is that the lender may be pi$$ed enough where he doesn’t want to consider a short sale. Oh well… the seller’s buyer may decide to purchase at the sheriff sale anyway. That way the huge $30k second gets wiped off.
Re: Getting lender to postpone sheriff sale - Posted by Tom (MI)
Posted by Tom (MI) on July 30, 2003 at 18:09:20:
I am sure there would be a lot of people that could use this type of information. Why don’t you just post it for all to see? I don’t see any reason for private emailing of answers to questions posted on a public forum.
Tom