Foreclosure in Lynn>Question Details

Emmitt, Home Buyer in Lynn, MA

i want to bid on a foreclosed home at 31 webster st lynn mass but the auction keeps getting postponed but

Asked by Emmitt, Lynn, MA Sat Aug 15, 2009

now sceduled for sept 1 2009,why does the auction keep getting posponed? 3 times now

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It keeps getting postponed most likely due to the efforts by the current owner to save the property. The lender is asserting their right to foreclose as they should in the eventuality that the work out doesn't come through.

I don't have any specific knowledge of this property, the lender or attorney involved. When in doubt you should consult with the attorney or auctioneer handling the auction.
0 votes Thank Flag Link Sat Aug 15, 2009
There are many reasons why the auction is postponed including the Owners trying to complete a loan modification, the bank not having their ducks in a row, etc. The property may never actually be foreclosed upon.
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0 votes Thank Flag Link Sat Aug 15, 2009
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