How many times can a sale be postponed before it’s necessary to re-publish the sale?
Hi Louis -
A trustee sale can postpone for up to one year in California, there is no limit to the amount of times it can postpone. ?After the year is up, the Notice of Trustee sale is cancelled and a new NTS would have to be record to continue the foreclosure process.
Here is a link to the Foreclosure process in California:?http://www.foreclosureradar.com/foreclosure-guides/foreclosure-101/foreclosure-laws/california-laws/civil-code-2924/
Historically, the law has changed over the years. ?Before about 20 years ago it was unlimited postponements and time. ?Then it was limited to 3 postponements with the exception that if the borrower requested postponement(s), it didn’t count towards the max of 3. ?No limit as to time. ?(The Trustee was required to announce reason for postponement.)
? As mentioned above, the law was changed again when the RE collapse happened. Unlimited postponements, no reason has to be given, as I read the law,(but usually is) and republish after a year from the first sale date has passed.
? ? What many of us think needs to be changed is: the majority of trustees will “continue” (postpone) a sale for hours, sometimes 10 minutes at a time, ?on the day it is scheduled only, usually, to postpone it. ?This even happens ?after they have announced an opening bid on their website. ?This wastes hours of bidders time. ? There should be a reasonable limit - 30 minutes or an hour - before it has to be postponed at least until the next day.