Foreclosure in 92106>Question Details

Pat, Home Owner in 92106

how to cancel auction sale houseforclose?

Asked by Pat, 92106 Wed Jul 4, 2012

my house going to sale auction soon how to stop that and where can I find the fare rate for Lawyer I did not have a job for long time about 18 months really broke ,my case number Case No: 2011-CA-002095 please find me help or give me the tip for my right to give my house hope to pay lower ( payment from 1010.67 and after stop by bankruptcy one time from 5 of April the payment up to 1158 ) I still can created the small business or get job yet do I have my case was the real Estate group invoiced wish I never know about and I so poor knowledge law and want to give and still pay for less for staying here until I find a job.

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11
Hello Pat,

The Lender and the Trustee make the decision as to whether or not they want to delay our foreclosure sale.

On the date and time of the trustee sale auction, one of four things may occur with the property:

1.The auction for the particular loan may be cancelled.This may occur because the property was sold before the auction, and therefore the loan was repaid (or partially repaid in the case of a short sale); the owner was able to refinance the loan; the owner came up with the cash to bring the loan current; or, there may have been an error made in the sale process, and the trustee has decided it would be better to restart the process.

2.The auction may be postponed to a later date and time. Common reasons for postponement include: mutual agreement, where the borrower and lender agree to delay the sale; beneficiaries request, where the lender decides to postpone; trustees discretion, where the trustee decides to postpone, often because it can’t reach the lender for bidding instructions; bankruptcy, which actually doesn’t completely stop foreclosure, but instead puts a temporary stay on the sale until the lender can get a motion granted by the judge allowing them to continue the sale; and operation of law, where a court has ordered that the sale not be held.

3.The property may be Sold to 3rd.The loan being foreclosed on was offered for sale by the trustee, and a bidder (other than the lender) ended up purchasing the loan.

4.The property was Sold to the Bank.Remember that it is the trustee, not the bank, that sells the home. Since the lender clearly has the most to lose in the transaction, and because they are the beneficiary of any funds received from the sale, they are allow to place the first bid, and are allowed to credit bid (bid without bringing cash to the sale), up to the amount they are owed.


However, you have a few options to help stop your trustee Sale
1) Declare a bankruptcy for the purpose of delaying the sale (or you may to go through with it )
2) File a civil action and get a Temporary Restraining Order.
3) Develop a pro-active foreclosure litigation strategy –
4) Challenge/Subpoena the Trustee – Trustee Sale Verification

If you have any questions, please feel free to contact me via phone or email.

http://www.surmountmortgageservices.com
1 vote Thank Flag Link Thu Jan 17, 2013
Hi Pat
Is this a bankruptcy case number? While you are in active bankruptcy the bank cannot foreclose on you. However keep in mind that there are many scams out there people claiming they can stop your foreclosure. The truth is you will need to show the bank that you can continue to make payments for a loan modification. Have you contacted your lender to see if there are any options for you? Also if you filed bankruptcy your attorney may be able to answer these questions for you.
1 vote Thank Flag Link Wed Jul 4, 2012
What's a "Fare" (It's spelled fair) lawyer going to do for you? A good lawyer will tell you that you don't have any right to pay lower. Your right? Where did you get that you have a right to pay lower?

And you don't have a job? still? You are asking for a free ride. Sure, you can file bankruptcy. If you don't have a job, that's only going to delay the inevitable for about 60 days. You can't file a chapter 13, you will be required to file a chapter 7. In a chapter 7, you either bring it current or lose it. You can't force a loan modification and no one will (or should) give you a modified loan withouth income.

Sorry, I know it's not what you want to hear but it's what you need to hear.
0 votes Thank Flag Link Mon Jun 23, 2014
File bankruptcy ASAP...don't worry about if you qualify or any of that just file it last minute. The bank cant sell your house if you have filed....you can always cancel the bankruptcy later if you don't want to continue with it. JUST GET IT FILED! that will stop it.
0 votes Thank Flag Link Sun Jun 22, 2014
Child support gets paid first? Where are you getting your information? That's an absolute crack statement.
Flag Mon Jun 23, 2014
Sooo.....if you have a child support judgement for $1000 a month...you live there 5 years and dont pay Child support cause the other party stopped the collection process...$1000 times 5 years is? $60,000. So when they auction off your house the bank has to give the other party (wife-baby momma), $60,000 FIRST!
Flag Sun Jun 22, 2014
You can live there for years if you follow through...also when it does sell Child support gets paid before the bank, so thats a wonderful curve ball. Get a judgement for a high payment, then cancel the collection process...when the homes does sell tell the DA you want the child support reopened from the day you stopped it. Things they dont want you to know... ;-)
Flag Sun Jun 22, 2014
We are an Attorney Network and we can work your case for free. But the problem that you have you can't afford your own home.
We can reduce your loan down to 95% of Current Market Value and give you a new loan. We'll also clean your credit, this all comes at no out of pocket cost to you.
What usually happens in Cases like yours. We can reduce the loan but if you can't afford the loan we sale the home and split the profits with you. In some cases we can give you a lease option to purchase, you can stay in the home and pay rent and you can exercise your option to buy the property back in 12 months.
If you want more information
Harold Lear
858-945-1047
hlear@us-attorneynetwork.com
0 votes Thank Flag Link Fri Jan 10, 2014
Foreclosure isn't a swift process, and banks can take anywhere from a few months to a year or more to auction off your home. Once you receive formal notice of an auction date, however, the time you have to save your home is drawing to a close. Fortunately, foreclosure doesn't have to be inevitable. You still have options to prevent the foreclosure even if the auction date is mere weeks away.
Chapter 13 Bankruptcy

Filing for bankruptcy is a last resort because of the extensive damage a bankruptcy does to your credit rating. Nevertheless, a bankruptcy can prove invaluable in your quest to save your home. Unlike Chapter 7 bankruptcy, which may require you to sell your home, Chapter 13 allows you to avoid foreclosure while also retaining ownership of your property.
When you file your bankruptcy case, an automatic stay prevents any creditors from pursuing you for your debts -– this includes foreclosing on your home. The court will set a payment plan that allows you to stay in your home and pay off your delinquent mortgage balance over a three to five year period.
Negotiate With Lender

If you haven't had an open line of communication with the lender from the beginning, start now. A looming auction date generally indicates that its too late to negotiate a short sale or apply for a loan modification, but your lender may agree to other foreclosure alternatives.
If your lender approves a forbearance, for example, it will temporarily postpone your mortgage payments and the foreclosure auction, giving you more time to come up with the delinquent amount. Your lender may also agree to accept a deed-in-lieu of foreclosure. In a deed-in-lieu arrangement, you sign over the home's title to the lender and walk away. Although a deed-in-lieu doesn't allow you to keep your home, it does prevent a foreclosure that would haunt your credit history for years to come.
Go to Court

If you have reason to believe that any aspect of the foreclosure process was fraudulent, you have the right to sue your lender and ask that the judge either postpone or terminate foreclosure proceedings. If you choose this route, you must demonstrate specific reasons why the court should halt the foreclosure. For example, if the lender did not follow state-specific foreclosure procedures, or the loan terms are blatantly predatory, a judge may postpone or cancel the auction date. Even if the court merely postpones the auction date, this postponement provides you with crucial time to explore other property-saving options.
Pay the Balance

If you had the necessary cash to pay off your delinquent mortgage, you likely would have done so by now. Beneficial changes to your financial situation, however, such as a loan from a family member or an unexpected inheritance, could give you the ability to bring your delinquent mortgage current. If your lender accepts the payment, the foreclosure process stops and you can resume making your normal monthly payments. If your lender demands that you pay off the loan in full, you must pay off your mortgage in its entirety before the lender will cancel the foreclosure sale.
0 votes Thank Flag Link Fri Jan 10, 2014
Hi Pat,
Often times an auction can be stopped and delayed by starting a short sale. To do that, you would need to hire a realtor that specializes in short sales. The good thing for you about this option is that it costs you 0 dollars and some lenders even want to pay you thousands of dollars to do a short sale.
Call me or email me and I can tell you more about the best way to stop foreclosure based on your situation.

Kevin Sanderlin
Keller Williams Realty
Cell 858-212-4702
0 votes Thank Flag Link Thu Jul 5, 2012
Hi Pat: Sorry that Ur going thru these challeging times but Ur in good company. The laws have changed to assist and protect homeowners. Do U need an interpreter? The banks have some new programs like HARP 2.0 that might benefit you. In CA, you may have even some more options regarding foreclosure protection. an owner can postpone an auction for 1 day without any reason if you contact the Trustee on the foreclosure notice. Before contacting your bank for a work out program, please seek legal advise from a good loan mod and foreclosure Atty since U want to stay in your home now and you do not want to short sale and move. I can recommend if you call me at 760 622 6855
Web Reference: http://www.coastal.biz
0 votes Thank Flag Link Wed Jul 4, 2012
Pat,

Thanks for reaching out. It's not possible to give you specific advice without knowing more specific details. I live in Point Loma and am a real estate Broker here. If you will call or write me I will do my best to guide you through this situation and refer you to good advice and help.
0 votes Thank Flag Link Wed Jul 4, 2012
Pay off the entire amount due.

Or negotiate with the lender for a partial payment, one that it finds acceptable.

Contact the lawyer who handled your previous bankruptcy.

If you can get a job, then get a job.
0 votes Thank Flag Link Wed Jul 4, 2012
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
You first, and best stop, is to call your Lender and ask for the LOSS MITIGATION DEPARTMENT:

Tell them what's going on; ask them to work with you.

The second Option would be to LIST it with a Realtor as a Shortsale; this will forestall the action.

Good luck and may God bless
0 votes Thank Flag Link Wed Jul 4, 2012
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