Q: Our home is in foreclosure and we were finally able to get refi’d but the closing date is one week past the sale date
How can we postpone the sale date?
A:
If your home is in foreclosure and you have successfully obtained a refinancing option, but the closing date falls one week after the scheduled sale date, there are a few steps you can consider taking to potentially postpone the sale:
1. Contact the lender: Reach out to your lender immediately and explain the situation. Inform them about the refinancing process and the delayed closing date. Request their cooperation in postponing the sale to allow sufficient time for the refinancing to be completed.
2. Provide documentation: Submit any relevant documentation to your lender that proves the progress of the refinancing process and the scheduled closing date. This may include copies of the loan agreement, communication with the new lender, or any other paperwork that supports your case.
3. Consult with an attorney: Seek legal advice from an attorney who specializes in foreclosure and real estate law. They can guide you on the specific legal procedures and options available to postpone the sale. They may also be able to negotiate with the lender on your behalf to reach a resolution.
4. Apply for a temporary restraining order: In certain cases, you may be able to file for a temporary restraining order or an injunction to halt the foreclosure sale temporarily. Consult with your attorney to determine if this is a viable option based on your circumstances.
5. Explore mediation or loan modification options: Depending on your situation, mediation or loan modification programs may be available to assist in postponing the sale or modifying the terms of your mortgage. Your attorney can provide guidance on the appropriate course of action.
Remember, time is of the essence when dealing with foreclosure proceedings. It is crucial to act promptly, seek legal advice, and maintain open communication with your lender to explore options for postponing the sale date.
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