Hi Paul,
For Denver homeowners that are trying to work out loan modifications or short sale their homes, the lenders are either filing a continuance (usually of 30 days) or not placing a bid at all, which then the county has to extend the sale date by a week at a time. A lot of times, it's the homeowner or the real estate agent requesting these. Generally, the banks are doing this since they would rather work out something with the owner than have the cost of foreclosing, and there may be other reasons as well. However, the foreclosing bank can only file a continuance on the sale date for a maximum of 12 months in the state of Colorado, so you are close to seeing some of these foreclosures go to sale that the banks have been delaying on. Hope that helps. - Sun Jul 12 2009, 23:06