Why am I seeing a lot more NTS recorded on the same property? Also an opening bid was set on the same property but was postponed at the last minute. Is there a good chance the opening bid will stay the same when it comes closer to the new sale date?
Catherine … It could be more than one lender/trustee has filed NTS. Also, if more than one year has passed w/o an auction (postpone, postpone, postpone), the NTS must be re-filed. Another common reason for multiple NTS is the game called “foreclosure roulette” … whereby a delinquent homeowner cures their back due amount, which results in a cancellation of the NTS … and yet the homeowner once again falls behind on payments … resulting in another NOD/NTS filing … only to be cured (brought current) once again, by the financially troubled homeowner. I call this “foreclosure roulette” as eventually the homeowner may not “come current” in time and the battle weary trustee/lender opts to pull the trigger on the sale.
And yes, an opening bid, that was once posted (later pulled down due to postponement), is a good indicator of the trustee/lenders’ valuation of the property. Decent *chance* (but no assurance) that they will re-post the same or similar opening bid amount if it comes back around.
I have multiple trustee sales date in same year and sales has been postpond and now is on hold.
Can any body tell me why?