Shohei Tanaka, Home Buyer in New York, NY

Is this auction finished on August 17th, 09 already ? May we know the awarded price ? Thank you

Asked by Shohei Tanaka, New York, NY Sun Aug 30, 2009

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Vicki Lloyd’s answer
The NOD ("Notice of Default") was just filed in July. That gives the owner 90 days to catch up his back payments, sell (short sale?) or work out a loan modification. If he doesn't do any of that, the lender may file a NOT ("Notice of Trustee Sale") which will allow them to foreclose after 21 days.

There are many ways that the entire process may be delayed - papers can get lost, the owner may declare bankruptcy, a short sale buyer may come in at the last minute, etc. I have seen the foreclosure sales be postponed for 30 days at a time over and over, until the lender has to cancel it and start the whole process again! There is no way to tell how long it might take.
0 votes Thank Flag Link Sun Aug 30, 2009
It isn't done yet! There is no recording of a sale! It says it is Pre-foreclosure. Sometimes it takes months for it to show up.
0 votes Thank Flag Link Sun Aug 30, 2009
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