i have a property in forclosure i have 2 questions. first, what affect does the property being located on

Asked by Ricky Appletree, Spokane, WA Sat Mar 14, 2009

indian leased land have on the foreclosure process. 2.) at what point can the foreclosure process not be reversed on the part of the trustee? In other words, I know that we could not reinstate the loan for us, the borrowers, 5 day prior to the sale date...yet the lender postponed 2 days before the sale date. Is that legal or will the property be solfd regardless. The property has been vacant for 1 year.

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Harold Sharpe, Agent, LAKE HAVASU CITY, AZ
Sat Jun 12, 2010
Hi Ricky,
In answer to your first question Indian Land,... you should refer that to a real estate attorney local to that area.
In answer to question 2. Lenders do not have to take the property back. They hold the right to take it back and must follow laws of that state and of the contract when you borrowed the money for the loan on that house.
My Suggestion is real estate attorney
You may also want to short sell the home.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
California Department of Real Estate License # 01312992
1 vote
Melissa Zava…, Agent, Escondido, CA
Sun Apr 26, 2009
As previously stated, lenders can halt the foreclosure up til the very minute of the auction. They can also rescind the foreclosure with good cause.
0 votes
Get-smart, , Durham, NC
Sun Apr 26, 2009
Lenders can stop or postpone the foreclosure auction on the day of the sale or up to the time to foreclose.
0 votes
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