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Stop Sale Date

 

    Program Highlights:

 Legal foreclosure delay strategy

 

Your lender is never contacted so you can continue with the loan modification or short sale

 

 Your clients can stay in their home or keep the income property for up to 6 months after Notice of Trustee Sale has been posted

 

Avoid bankruptcy on your credit, less costly than BK attorneys fees

 

Experienced professional trustee knowledge working for you, not against you

 

No title transfer (never transfer your title to anyone else to delay a sale, scam alert!)

 

GIVE US A TRY, YOU HAVE NOTHING TO LOSE...

 

Trustee Verification Services (Postponement)
 

Requirements
 
Type of Property:
Residential & Commercial
Occupancy Type:
Any
Filings: 
Must have received a Notice of Trustee Sale
Timeframe:
No Later than 2 days prior to Notice of Sale

Due to the increasing number of foreclosures that have ravaged our country, Lenders do not have the capacity to effectively ensure that they are in compliance with foreclosure laws and statues. Usually, in Trustee States, lenders employ a “third party” Trustee Company to manage the foreclosure process on behalf of the lender; consequently transferring the liability to the Trustee Company for any violations of foreclosure laws and/or statutes.
WealthRoad Realty requires the Trustee to verify a comprehensive list of issues related to the procedures passed by the lender and/or Trustee during the foreclosure process. Since the Trustee assumes all liability in the auctioning of the property, they will not foreclosure on the property if there is a potential for any violation of foreclosure laws and/or statutes. At the same time as they are researching and responding to specific violation we can obtain the time you need to finish your short sale or loan modification.
 
Trustee Reversal Services (Reversals)
 

Requirements
 
Type of Property:
Residential & Commercial
Occupancy Type:
Any
Filings: 
Property must be auctioned and/or sold
Timeframe:
Within 21 days of the auction and/or sale

There are a number of grounds on which a foreclosure auction and/or sale can be set reversed, just as there are several claims that can be brought up for postponement of the sale. Postpone My Sale provides Trustee Sale Reversal services that will enable the owner to stay in their property. Trustee Sale Reversal is not permanent. The home can again go to sale. This only provides property owners additional time to determine what the next best course of action is.

 

Trustee’s Sale postponement vs. Bankruptcy
 
Delay Timeline
 
 Chapter 7 Bankruptcy - 30 to 45 days Delay
Banks are very aware that many homeowners are filing Chapter 7 Bankruptcy to delay their foreclosure. When filed, a Ch. 7 will put an automatic Stay on all of your client’s debts. That means that no creditors can proceed with debt collection. Therefore, immediately after the bank is notified of the filing they send their legal team to court to file a motion to lift the stay. Most banks are doing this so fast that the stay only keeps the homeowner in their house for 30 - 45 more days. As soon as the stay is lifted, your client’s house is back on the auction block and they now have a bankruptcy on their record and likely you will be calling Tower Credit Solutions for help.
Chapter 13 - 40 to 60 days Delay
Similar to Chapter 7, when a Chapter 13 is filed it will stop creditors from collecting debts immediately. The difference is that Chapter 13s are the reorganization of debts. This will buy the homeowner a few more weeks, but the banks will still file a motion to lift the stay. Homeowners who are this delinquent are at a disadvantage in court against a valid creditor who has not been paid in an excessive amount of time. Again, as soon as the stay is lifted your client’s house is back on the auction block and they now have a bankruptcy on their record.
Trustee’s sale postponement - 6 Months Delay
We can get you up to 6 months with our program. You will not have to send your client to fill a bankruptcy that it’s going to strongly affect their credit, PLUS you can continue working with your short sale or loan modification with the lender while in our program.
 
Damage Incurred
 
Bankruptcy
Filing any type of bankruptcy will have very strong consequences. Homeowners who file just to prolong the sale of their house disqualify from filing again for 7 years (in a Ch. 7). Therefore, you are susceptible for that entire period. What happens if there is some medical emergency that incurs tremendous bills? Your client will not be able to protect themselves against getting their wages garnished. No matter what the debt or situation, they are no longer allowed to protect themselves.
Trustee’s sale postponement
While in the program, your client is likely to be getting revolving mortgage lates until a solution has taken place, whether it is short sale, fair market sale, modification or reinstatement.
 
Financial Benefits
 
Chapter 7
Chapter 7 Bankruptcy wipes the slate clean for people who qualify (qualifying for a BK is now tougher than ever). When approved, most debts can be released. This is a good choice for homeowners with a lot of unsecured debt (credit cards, personal loans, etc). Your mortgage is secured by your home, meaning that even after bankruptcy is filed they can still take your property. So the financial benefits only include removing unsecured debt.
Chapter 13
Chapter 13 is reorganization of debts. The judge is going to work with your clients and their creditors to plan out an acceptable repayment plan to all of them. Often the property will be removed from the BK as the delinquency is extreme and it is a secured loan. This is not a great option for homeowners looking to buy time.
Trustee’s sale postponement
While you are employing WealthRoad Realty to verify the legality of your client’s foreclosure proceedings, you can get the time you need to close your transaction. During this time your clients can also save money to buy another place in the future.