Home Foreclosure. If trustee sale date is postponed, how much notice must trustee give to homeowner before can sell property?

Asked over 1 year ago - Irvine, CA

I have a home loan through Bank of America. The trustee sale date was 2/15/13, but it is postponed during trial modification. I don't want to pay the trial modification, and want to list as a short sale in a few months. Because of the trial modification, the trustee sale date is off calendar and there is not sale date at this time. Because I am in default of my trial payments for 2 months now and won't be paying anything because I want to do a short sale, how much notice does the trustee have to give me before they can legally sell my house? Thanks

Attorney answers (3)

  1. Justin Drayton Graham

    Contributor Level 13

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    Answered . You are not entitled to written notice of a new sale date unless 365 days have passed since the notice of trustee sale. Section 2923.6 of the California Civil Codes says that a lender cannot sell property while it is under review for a modification of the first loan. If you default on your trial modification plan, the lender must send you a denial letter stating the reasons why. It cannot sell the property for 30 days from the denial letter. This statute is brand new, and it's not clear that all lenders in California know how it works. Consult an attorney who specializes in foreclosure prevention.

  2. Richard Alan Rodgers

    Contributor Level 16

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    Lawyer agrees

    Answered . If the postponed sale date is more than 365 days from the original sale date, the trustee must record and publish and give you a new notice. If less than 365 days, no new notice is required, just a "public declaration" which is usually by the trustee's website or telephone recorded information. [Civ.Code 2924g(d)]

    Richard A. Rodgers, Esq.
    (805) 230-2525
    200 N. Westlake Blvd. Ste 201
    Westlake Village, CA 91362
    rar@sd-attorneys.com
    www.sdresq.com

    As stated in the AVVO.COM Terms and Conditions of Use, this answer is not intended as legal advice, and no... more
  3. Douglas Charles Michie

    Pro

    Contributor Level 13

    Answered . Generally lenders continue to postpone sale dates while a TPP is in progress. Contact the Trustee to determine the current sale date. If your lender actually cancelled the sale while you we're in the TPP, then they will have to post a new Notice of Trustee Sale giving you 21 days notice.

    www.michielawfirm.com I guess I would not feel lawyerly unless I wrote a disclaimer to this answer - after all,... more

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