Trustee sale vs REO date

[Eugene]

Jim the Realtor has a list of new REOs on his web site

http://bubbleinfo.squarespace.com/san-diego-county-reos/

I see that all properties have two distinct dates recorded – sale date and REO date. They are usually 1-2 weeks apart, but the difference can be up to several months.

e.g. 2256 Mountain Ridge Dr Chula Vista 91914

SALE PLACE: 10:30A 04/03/2008 AT: 321 NEVADA ST OCEANSIDE
REO DATE: 07/30/2008

What’s the meaning of “REO date” and what was the bank doing to that house for almost 4 months after buying it?

[SD Realtor]

E this is a good question. I will email Jim and ask him. If he doesn’t know I will check with a title officer.

[SD Realtor]

E this is a good question. I will email Jim and ask him. If he doesn’t know I will check with a title officer.

[SD Realtor]

E this is a good question. I will email Jim and ask him. If he doesn’t know I will check with a title officer.

[SD Realtor]

E this is a good question. I will email Jim and ask him. If he doesn’t know I will check with a title officer.

[SD Realtor]

E this is a good question. I will email Jim and ask him. If he doesn’t know I will check with a title officer.

[toddt]

This particular property looks to have delayed the public sale until 7/23, with Jim’s public records service picking it the reverting to First Federal on 7/30. The 4/3 date is just the date published on the Notice of Trustee Sale, which is legally the earliest it could happen.

It is not uncommon at all for a trustee sale to delay many times. Lenders try to meet the timeline minimums on filings for legal reasons, but very rarely get properties through the process that quickly.

Sometimes it’s a week at a time, sometimes a month or more, as lenders try to work out all the needed assignments and legal documentation, deal with bankruptcies, and, in the current climate, “hope” that somehow the home will sell or the borrower will cure.

[toddt]

This particular property looks to have delayed the public sale until 7/23, with Jim’s public records service picking it the reverting to First Federal on 7/30. The 4/3 date is just the date published on the Notice of Trustee Sale, which is legally the earliest it could happen.

It is not uncommon at all for a trustee sale to delay many times. Lenders try to meet the timeline minimums on filings for legal reasons, but very rarely get properties through the process that quickly.

Sometimes it’s a week at a time, sometimes a month or more, as lenders try to work out all the needed assignments and legal documentation, deal with bankruptcies, and, in the current climate, “hope” that somehow the home will sell or the borrower will cure.

[toddt]

This particular property looks to have delayed the public sale until 7/23, with Jim’s public records service picking it the reverting to First Federal on 7/30. The 4/3 date is just the date published on the Notice of Trustee Sale, which is legally the earliest it could happen.

It is not uncommon at all for a trustee sale to delay many times. Lenders try to meet the timeline minimums on filings for legal reasons, but very rarely get properties through the process that quickly.

Sometimes it’s a week at a time, sometimes a month or more, as lenders try to work out all the needed assignments and legal documentation, deal with bankruptcies, and, in the current climate, “hope” that somehow the home will sell or the borrower will cure.

[toddt]

This particular property looks to have delayed the public sale until 7/23, with Jim’s public records service picking it the reverting to First Federal on 7/30. The 4/3 date is just the date published on the Notice of Trustee Sale, which is legally the earliest it could happen.

It is not uncommon at all for a trustee sale to delay many times. Lenders try to meet the timeline minimums on filings for legal reasons, but very rarely get properties through the process that quickly.

Sometimes it’s a week at a time, sometimes a month or more, as lenders try to work out all the needed assignments and legal documentation, deal with bankruptcies, and, in the current climate, “hope” that somehow the home will sell or the borrower will cure.

[toddt]

This particular property looks to have delayed the public sale until 7/23, with Jim’s public records service picking it the reverting to First Federal on 7/30. The 4/3 date is just the date published on the Notice of Trustee Sale, which is legally the earliest it could happen.

It is not uncommon at all for a trustee sale to delay many times. Lenders try to meet the timeline minimums on filings for legal reasons, but very rarely get properties through the process that quickly.

Sometimes it’s a week at a time, sometimes a month or more, as lenders try to work out all the needed assignments and legal documentation, deal with bankruptcies, and, in the current climate, “hope” that somehow the home will sell or the borrower will cure.

[Eugene]

Okay, bad example.

756 Agua Vista, 91914
Sale date: 5/2/08 (confirmed by ForeclosureRadar)
REO date: ???

[Eugene]

Okay, bad example.

756 Agua Vista, 91914
Sale date: 5/2/08 (confirmed by ForeclosureRadar)
REO date: ???

[Eugene]

Okay, bad example.

756 Agua Vista, 91914
Sale date: 5/2/08 (confirmed by ForeclosureRadar)
REO date: ???

[Eugene]

Okay, bad example.

756 Agua Vista, 91914
Sale date: 5/2/08 (confirmed by ForeclosureRadar)
REO date: ???

[Author]

Posts