Trustee sale vs REO date

[Eugene]

Okay, bad example.

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

[toddt]

Little more interesting. Sale date was 5/2 (which was the original date on the NTS), reverted back to US Bank as issuer. Resold as REO on 7/29, with that recording on 8/13.

This is an example where the filings were timely (~90 days after NOD went NTS) and the public sale occurred w/o delay. What we don’t have a good idea of is if there was any delay in filing the NOD – that’s harder to determine. Based on the default amount of 25k and a loan amount of 825 @6.99% (this is all per records), I’d say the pmt was around $5400-$5500 a month, making them 4 months behind. Add in some late fees, etc. and you get around 25k. So my thinking was the bank waited an extra month to file the NOD.

I don’t have an exact number, but this sort of does not occur often, maybe 10-20% of auctions are this smooth, nor does getting to an REO sale in 2 months happen to much. This was a godsend for this lender in this case, even given the several hundred thousand dollar loss.

[toddt]

Little more interesting. Sale date was 5/2 (which was the original date on the NTS), reverted back to US Bank as issuer. Resold as REO on 7/29, with that recording on 8/13.

This is an example where the filings were timely (~90 days after NOD went NTS) and the public sale occurred w/o delay. What we don’t have a good idea of is if there was any delay in filing the NOD – that’s harder to determine. Based on the default amount of 25k and a loan amount of 825 @6.99% (this is all per records), I’d say the pmt was around $5400-$5500 a month, making them 4 months behind. Add in some late fees, etc. and you get around 25k. So my thinking was the bank waited an extra month to file the NOD.

I don’t have an exact number, but this sort of does not occur often, maybe 10-20% of auctions are this smooth, nor does getting to an REO sale in 2 months happen to much. This was a godsend for this lender in this case, even given the several hundred thousand dollar loss.

[toddt]

Little more interesting. Sale date was 5/2 (which was the original date on the NTS), reverted back to US Bank as issuer. Resold as REO on 7/29, with that recording on 8/13.

This is an example where the filings were timely (~90 days after NOD went NTS) and the public sale occurred w/o delay. What we don’t have a good idea of is if there was any delay in filing the NOD – that’s harder to determine. Based on the default amount of 25k and a loan amount of 825 @6.99% (this is all per records), I’d say the pmt was around $5400-$5500 a month, making them 4 months behind. Add in some late fees, etc. and you get around 25k. So my thinking was the bank waited an extra month to file the NOD.

I don’t have an exact number, but this sort of does not occur often, maybe 10-20% of auctions are this smooth, nor does getting to an REO sale in 2 months happen to much. This was a godsend for this lender in this case, even given the several hundred thousand dollar loss.

[toddt]

Little more interesting. Sale date was 5/2 (which was the original date on the NTS), reverted back to US Bank as issuer. Resold as REO on 7/29, with that recording on 8/13.

This is an example where the filings were timely (~90 days after NOD went NTS) and the public sale occurred w/o delay. What we don’t have a good idea of is if there was any delay in filing the NOD – that’s harder to determine. Based on the default amount of 25k and a loan amount of 825 @6.99% (this is all per records), I’d say the pmt was around $5400-$5500 a month, making them 4 months behind. Add in some late fees, etc. and you get around 25k. So my thinking was the bank waited an extra month to file the NOD.

I don’t have an exact number, but this sort of does not occur often, maybe 10-20% of auctions are this smooth, nor does getting to an REO sale in 2 months happen to much. This was a godsend for this lender in this case, even given the several hundred thousand dollar loss.

[toddt]

Little more interesting. Sale date was 5/2 (which was the original date on the NTS), reverted back to US Bank as issuer. Resold as REO on 7/29, with that recording on 8/13.

This is an example where the filings were timely (~90 days after NOD went NTS) and the public sale occurred w/o delay. What we don’t have a good idea of is if there was any delay in filing the NOD – that’s harder to determine. Based on the default amount of 25k and a loan amount of 825 @6.99% (this is all per records), I’d say the pmt was around $5400-$5500 a month, making them 4 months behind. Add in some late fees, etc. and you get around 25k. So my thinking was the bank waited an extra month to file the NOD.

I don’t have an exact number, but this sort of does not occur often, maybe 10-20% of auctions are this smooth, nor does getting to an REO sale in 2 months happen to much. This was a godsend for this lender in this case, even given the several hundred thousand dollar loss.

[SD Realtor]

Thanks for that answer Todd. Confirmed as well that the recorded trustee sale is not rerecorded when a trustee sale is delayed. The only obligation for recording is when the initial NOT is made.

[SD Realtor]

Thanks for that answer Todd. Confirmed as well that the recorded trustee sale is not rerecorded when a trustee sale is delayed. The only obligation for recording is when the initial NOT is made.

[SD Realtor]

Thanks for that answer Todd. Confirmed as well that the recorded trustee sale is not rerecorded when a trustee sale is delayed. The only obligation for recording is when the initial NOT is made.

[SD Realtor]

Thanks for that answer Todd. Confirmed as well that the recorded trustee sale is not rerecorded when a trustee sale is delayed. The only obligation for recording is when the initial NOT is made.

[SD Realtor]

Thanks for that answer Todd. Confirmed as well that the recorded trustee sale is not rerecorded when a trustee sale is delayed. The only obligation for recording is when the initial NOT is made.

[Eugene]

You are absolutely right. I looked closer – REO date is usually within a month from the real trustee sale date shown by ForeclosureRadar.

Todd, can you check what’s the story with 2886 Morning Creek, 91914? FR shows it as a REO as of 6/20. I don’t see a corresponding entry on bubbleinfo.com. I was in the area last weekend and the house looked lived in (no lockbox, green lawn, car parked in front).

[Eugene]

You are absolutely right. I looked closer – REO date is usually within a month from the real trustee sale date shown by ForeclosureRadar.

Todd, can you check what’s the story with 2886 Morning Creek, 91914? FR shows it as a REO as of 6/20. I don’t see a corresponding entry on bubbleinfo.com. I was in the area last weekend and the house looked lived in (no lockbox, green lawn, car parked in front).

[Eugene]

You are absolutely right. I looked closer – REO date is usually within a month from the real trustee sale date shown by ForeclosureRadar.

Todd, can you check what’s the story with 2886 Morning Creek, 91914? FR shows it as a REO as of 6/20. I don’t see a corresponding entry on bubbleinfo.com. I was in the area last weekend and the house looked lived in (no lockbox, green lawn, car parked in front).

[Eugene]

You are absolutely right. I looked closer – REO date is usually within a month from the real trustee sale date shown by ForeclosureRadar.

Todd, can you check what’s the story with 2886 Morning Creek, 91914? FR shows it as a REO as of 6/20. I don’t see a corresponding entry on bubbleinfo.com. I was in the area last weekend and the house looked lived in (no lockbox, green lawn, car parked in front).

[Author]

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