How to STOP a Foreclosure Sale: Tips on getting a Foreclosure Sale Date (Notice of Trusee Sale) Postponed:
How to STOP a Foreclosure Sale: Tips on getting a Foreclosure Sale Date (Notice of Trusee Sale) Postponed
Submit everything on the list below and more important is the actions taken after you submit it. Call and note the account multiple times until you get someone who is ready and willing to help you. Leave messages, send emails, and fax them, hit them on every front possible until you receive the postponement. DO NOT “wait for them to get back to you”, keep calling until you confirm
1) URGENT cover letter – Outlining the entire situation
2) Authorization form – All loans
3) Hardship Letter – Highlighted and Emphasizing “Permanent Nature”
4) Listing Agreement and Short Sale Addendum
5) NODPA – Notice of Default Purchase Agreement (Price Filled in)
6) COMPS – Underlined, Circled and Broken down with cover letter
7) HUD – Make sure all names, numbers, and payoffs are correct and settlement agent states “buyers choice”
Complete Every Step in this order… Get all rep names and numbers and save/note them. Start this process a minimum of 3-7 days before the projected sale date.
1. Send a FORMAL STOP SALE request with “Urgent” cover letter to every fax number and email that you have on the file. Resend Entire package above if necessary.
2. Call Negotiator and Supervisor to Note in the account that you are trying to postpone the sale. Also have rep review the account and make sure that all the required postponement items are showing up and ready for review. Stay on the phone with them until they confirm both.
3. Call Foreclosure AND Customer Service department to confirm that the request to post pone was made. If they say they cannot help you, keep calling back until you find someone that will help you.
4. Get the Trustee Sale Number and Trustee contact info one of three ways: 1) Check the NOTS letter, 2) Request Trustee Company Name and Contact Number from Customer Service, or 3) Get it off title.
5. Also, check if the Trustee Sale company is co-owned by the servicer / lender, if so any postponements can be made directly in house via email or phone by the negotiator (stay on the phone with them while they do it).
6. Call and confirm with Trustee Company that the request to postpone was received. If the request was never made, call lender back and escalate the postponement. Keep checking back until confirmed.
7. Go higher up with all parties if necessary. Repeat by phone until all parties confirm the postponement.
Obviously nothing is guaranteed, but using these techniques will help you get a Foreclosure date postponed.
Let us know about your success with these tips
To your success,
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360
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