Got behind on 1st, made forbearance agreement with lender made 2 pmts, found out dot has been assigned to another co set for foreclosure sale Jan 20?

Asked by Katoo1, 92308 Thu Jan 13, 2011

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Jimmy Esqueda, Agent, West Covina, CA
Thu Jan 13, 2011
The other company you may be talking about is probably the trustee company that your lender hires to handle the foreclosure process. It's common for a lender to proceed with foreclosure process and set a foreclosure sale date even though you might be under a forebearance agreement or under a loan modification trial period. However if your still under an agreement they normally don't foreclose especially if you're under a government's program. They will simply postpone the sale date in increments of 30 days until you are permanently modified or rejected from a program. If you are denied or rejected from a program this enables them to foreclose immediately on the next sale date.

You need to keep in contact with your lender within the last 2 weeks to remind them to postpone the sale. (Files do slip from their hands). They will verbally confirm with you within the last 3 days. A little scary but that's the way it works. You will not receive confirmation of postponement from them. Check with a Realtor or myself to see if your sale date has been updated.
1 vote
Bo Goulet, b…, Agent, Spring Valley Lake, CA
Wed Mar 13, 2013

I hope everything has worked out for you.

You may be ready to purchase another home soon. If there is anything I can help you with, please do not hesitate to call.

Bo Goulet, cdpe
DRE# 01854568
(760) 713-6137
0 votes
Jamie Henne…, Agent, Upland, CA
Fri Apr 27, 2012
Hi Katoo1

Just wanted to check in with you to see how everything worked out on your forbearance agreement. If you are still in need of help, please email me at I would be happy to help you in any way I can to keep you home.
0 votes
Pamela Wiest, Agent, Victorville, CA
Thu Jan 13, 2011
Call your lender and see what is up since there was an agreement made. Also, see if they would be amicable to a short sale or something. But foremost, I would call your lender and guestion them as towhat is going on
0 votes
Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Thu Jan 13, 2011
You need to contact the people you have dealing with on your forebearance agreement now and find out what is going on. In my experience, you are TOO LATE to do a short sale. To get a foreclosure auction stopped for a short sale you usually have to have your entire hardship package into the lender and uploaded in their system, which can often take up to a week. Then you would also have to have an legitimate offer at or near fair market value, and in most cases the BPO has to be done, so the bank knows that the offer submitted is reasonable.

That does not mean you cannot get a postponement on your sale date, especially if you are in a forebearance agreement and you have complied with all the terms of that agreement. Also, if there has not been a prior postponement, most lenders will give you a 30 day postponement if you have a good reason and ask for it.

I am willing ot make a 3 way call with you to your lender. I do this for people all the time. There is no cost or obligation to you. Just last month I was able to negotiate a 30 day postponement for another homeowner in San Bernardino, with the auction only 4 days away. However, the sooner you make the call the better chance you have of getting this taken care of. Please call me today so we can set up the 3 way call. Dare to Dream.

Shel-lee Davis, QSC®
Certified Distressed Property Expert – CDPE®
Short Sale & Foreclosure Resource – SFR®
Certified HAFA Specialist – CHS®
SSG Pro®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
424-2HELP12 (424-243-5712)
0 votes
Eli Givoni-S…, , Boca Raton, FL
Thu Jan 13, 2011
You're pretty much out of time, if there truly is an auction date for January 20th. However, we will do our best to help you with a short sale and try to keep foreclosure off your credit. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes
sarah oswald, Agent, Eastvale, CA
Thu Jan 13, 2011

I also recommend that you start the shortsale process. This is so you have an option in case the forebearance or the loan mod is denied. The trustee sale date is usually postponed in increments of 30 days, however, if they deny your request the sale will occurs on the assigned date. The best way, to protect your investment and credit at this time is to initiate a HAFA shortsale. It is much better and foreclosure or bankruptcy which damages your credit from 5 to 10 years. Give a call to a local realtor or my self for more details on the shortsale process. Good luck
0 votes
Shirley Bell, Agent, Adelanto, CA
Thu Jan 13, 2011
Hurry! Do a Short Sale! This is common!
0 votes
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