Opening bid higher than published bid, NTS sale amount?


#1

Hi,

I am looking at an upcoming trustee auction where the opening bid for an auction has been set higher than the Notice Of Trustee Sale/“Published Bid” amount. Is this accurate?

I have always wondered if the lender was able to continue accruing interest for their maximum credit bid for the 90 days (or whatever minimum legal notice period is required) after the trustee sale is written and recorded, but this is the first time I have seen it happen.

I’m inferring this is legal and standard practice. Correct?

Thanks for any advice.


#2

Interest keeps accruing until loan is paid off or until the day it goes to sale. Also, there could be advances for atty fees (bk), taxes, insurance etc.