How do I postpone trustee sale of a reverse mortgage lender auction date quickly?

Asked by Valerzeto, Los Angeles, CA Mon Nov 25, 2013

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7
Jane La Trace, Agent, Los Angeles, CA
Mon Nov 25, 2013
If you are the owner you need to contact the lender and ask them for a loan modification in order to possibly postpone the sale. If you are a renter, then you have rights. By law you can not be evicted until the lease term has ended. If you do not have a lease, you must receive at least 90 days notice before you have to leave the property.
I am a Making Home Affordable/HUD Counselor so please contact me for further guidance. There are important steps that must be made in order to get help quickly and efficiently.

Jane La Trace
949.463.1347 P
jane@dreamhomescenter.com
1 vote
I'm a renter and now they have posted for us to be evicted even though I advised them that we have a rental lease and submitted a copy to them. Is there anything we can do now? The eviction doesn't have my name so I decided to just start looking for an apartment but I'd rather have at least a month instead of days.
Flag Tue May 20, 2014
Brad Korb, Agent, Burbank, CA
Sat Nov 29, 2014
If the sale date is soon you should talk to an attorney ASAP, they can usually stall the trustee sale ,then you need to figure out what you can do with the property,you can talk to a real estate agent,good luck !
0 votes
Marshall Dis…, Agent, Beverly Hills, CA
Mon Nov 25, 2013
IF YOU NEED TO, CHAPTER 13 GETS YOU 71 DAYS, AND YOU CAN DO IT TWICE.
THERE ARE ATTORNEYS THAT DO THIS TYPE OF TRANSACTION FOR A LIVING, AND
THEY ARE NORMALLY $1500.00 OR LESS.
0 votes
Randy Spaldi…, Agent, Los Angeles, CA
Mon Nov 25, 2013
The second response from Jane is a good answer. If you are the owner, you need to contact the lender immediately if you haven't already done so. Agents are prohibited by law from offering legal advise. Filing bankruptcy involves hiring an attorney and costs money, and would be only a very temporary solution. Unless you agree to confirm the loan and remove it from the bankruptcy, the court will allow the lender to very quickly reschedule the trustee sale.
0 votes
David Beaubi…, Agent, Los Angeles, CA
Mon Nov 25, 2013
(1) Submit Loan Modification Application to Lender
(2) Submit Bankruptcy Application to Bankruptcy Court, you can extend bankruptcy filing time by changing from Chapter 7 to Chapter 13 etc. and you can then cancel bankruptcy at any time without actually completing bankruptcy, and then refile for bankruptcy at a later date to commence process again. While in Bankruptcy the lender can not foreclose. This process can take up to 6 to 8 months while foreclosure is stopped.
0 votes
Richard "RJ"…, Agent, Beverly Hills, CA
Mon Nov 25, 2013
As a renter, there isn't much you can do other that speak with the owner and see what they plan on doing. If you are the owner, you need to begin working on some sort of foreclosure alternative plan. I would be able to assist if you want. If so, please contact me directly. Thank you!
0 votes
Sara Mehrpou…, Agent, Los Angeles, CA
Mon Nov 25, 2013
Are you renting or do you own the property? If you own, you may want to short sell the home. But, there needs to be enough time to do so before the trustee sale. Feel free to contact me with any questions.email: smehr818@gmail.com phone: 818-903-2040
0 votes
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