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EMERGENCY FORECLOSURE QUESTIONS Northern CA Part 1 Brother’s NO CA home is set 4 Trustee sale date of Oct 9, 2012.

Fremont, CA |

Lender denied Forbearance etc. Demand FULL reinstatement of loan or they will sell.

They gave arrears amt but said it will take them 2-3 days to get Trustee fees, appraisal fees, atty fees to him so he can have accurate total to pay and STOP sale. They said he has until Oct. 8th to do this.

I read on CA Foreclosure Law-says DEADLINE TO REINSTATE he only has FIVE BUSINESS days BEFORE sale date to reinstate his loan and STOP trustee sale. That is Oct. 3rd.


1. WHAT is TRUE deadline/cut off date to STOP sale of his home?
2. What do we do if we do not get the additional fee information by Weds, Oct 3rd?
3. Should he just go ahead and send whatever money he has now to pay lender?

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Attorney answers 1


If you have to, you can stop the foreclosure by filing a chapter 13 bankruptcy. Without knowing more details, hard to say, but there may be other reasont to do this as well, such as take care of other debts that are not manageable, get rid of second mortgage if facts warrant it. I recommend at least consulting with a bankruptcy attorney to get some advice & have this as Plan B on standby if you can't reinstate in time. The case must be filed before trustee sale date.



Thank you, Kathryn. He got the money to cover all arrears due but bank wants EXTRA $5K for all the fees incurred by this process. He backed himself into this corner. This is a bona-fide nightmare. He is scrambling to save his home and avoid Chap 13, if possible. Has to do everything ASAP now and I am scared. So much can go wrong. THXX again... (Chapter 13 could get rid of 2nd mortgage? That is $70K+!!! How?)