Will sale date get postponed until loan modification decision is made?

[onthebrink]

We are in the process of trying to get a loan mod from Chase and have been in this process for over a year. We were asked to complete a new application two weeks ago and our file is under review. Yesterday we got a NOS stating our home would be auctioned off on August 4th.

My understanding from speaking with a friend who is a mortgage broker is that by law the house cannot be auctioned off until the loan modification decision is made, which means that in all likelihood the sale date will be postponed. We are in CA.

Is this correct?

[sh9730]

Supposedly this is true. But there are many stories of them "dual tracking". Continuing on with FC proceedings while still in mod review. You have to get on them like crazy to have them postpone the date. Call every day if need be. Follow up with the trustee (that who will sell your house) and MAKE SURE the date has been postponed. Dont trust the bank on this point.