Letter Requesting An Extension
Hello. I was wondering if anyone has a sample letter requesting an extension of foreclosure sale from lender/attorney. I am negotiating with the bank but it will be a matter of days before they have true payoff amount available. Time is of the essence so I am wanting to submit an extension request to buy time. The owner agrees. Do I submit the letter on their behalf with their signatures or since I have been dealing with the bank do I submit it on my own behalf? Any help is appreciated. Thanks
the seller does not have to sign a request to postpone the sale, only the bank. we typically ask for it on the phone with the loss mitigation person we are dealing with and they follow-up with something in writing. sometimes this is via email, sometimes by fax. have a good reason ready to make them want to do this, as they typically don't like to postpone the date once it is set. that just gives the homeowner more time to do things like file bankruptcy, get a better lawyer, complain to the judge, etc.
Thank you.