Legal Question in Real Estate Law in California
My wife had a foreclosure date and I went down to the courthouse with a lender who was going to give me a mortgage on the property. The foreclosure sale was postponed but I was she and I where never informed of a new date. Needless to say the bank did a foreclosure sale and sold it without us knowing about it. What recourse do we have.
3 Answers from Attorneys
None. The bank is not obligated to tell you or your new lender anything about the new date and they do not have to republish unless it has been more than 1 year since the date was originally set.
When the trustee's sale is postponed, the trustee publicly announces the new postponed date at the originally scheduled sale. Did you leave early?
As the other attorneys have said, there is a strange loophole in California law that allows the lender and trustee to postpone the sale with only verbal notice at the time of the original sale. So no one ever gets written notice of a trustee's sale once it is postponed, unless, as Mr. Hoffman notes, it is longer than a year.
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