California | Real Estate Law
6/10/09, 11:09 pm
Legal Question
Foreclosure sale
I am having my loan modification
docs reviewed and it looks like a
decision will not be made before my
the date of my foreclosure sale.
Gmac will not allow my to request
an extension until 5 days before the
sale. They told me Fannie Mae will
not let them make the request until
the 5 day mark. Problem with that is
I understand that I give up my right
for reinstatement 5 days prior to
the sale date. They said ''don't
worry'' we will still reinstate you up
to the day before the sale if you
want to make the payment to cure
the loan. My house is worth twice
the amount I owe on the loan and I don't trust them. Is there anything
else I can do, and am I right to be skeptical?
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