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Question about NOS while in Short Sale...

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    Question about NOS while in Short Sale...

    My condo is up for short sale while in the foreclosure process. As expected I received the NOS yesterday. It stated, "Twenty days or more after the date of this notice, this property may be sold at foreclosure." The funny thing is that there no date listed anywhere on the notice and post mark also does not have a date.

    My questions are:
    1 – Will I receive another notice with the date of the sale? If so, approx how many days notice do they give?

    2- Does anyone know the protocol for foreclosures that have an offer on the property? i.e. What are the chances of the NOS being delayed?

    Thanks for any input you may have.

    Stats:
    Southern CA
    Ch 7 BK discharge 01/2010 - Did not reaffirm home
    Mortgage – 1st – GMAC - $198K; 2nd – Citi Mortgage - $68K
    Value - $127K
    Last Payment on 2nd: 11/2009
    Last Payment on 1st: 02/2010
    NOD: filed on 07/22/2010
    Submitted buyer’s short sale offer to bank: 10/20/10
    NOS: received on 10/25/10

    #2
    I have my first question answered but I am still working on the 2nd.

    Update - The sale date is set for Nov 12th (GMAC is moving fast). We have not heard if the bank has accepted the offer yet but should know something later this week. The bank did say we can request an extension on the sale but only 5-business days prior to the sale, i.e. Nov 5th.

    Does anyone know or have had experience actually getting extensions for a sales date? We have the one offer in and a possible back up offer. I am also wondering where my 2nd (Citi) falls within all of this. All foreclosure correspondence has only been from my 1st (GMAC).

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