How long do you have to wait, after a Bankruptcy is dismissed, to proceed with a foreclosure sale if the sale date had been set prior to the Bankruptcy filing?
You can proceed with the foreclosure sale 7 days from the “entered dismissal” date. • If you have a loan secured by two deeds of trust covering two different properties, can i foreclose on one property only, or do we have to foreclose on both? This is a complex question which requires analysis of the underlying collateral as well as factoring in the goal of the Lender, however you may foreclose on one deed of trust only. The amount of the final bid after the foreclosure sale determines if the deed of trust remaining on the property upon which you did not foreclose still retains any value. For example let’s say your owed a total of $100,000.00. The amount of the final bid at the foreclosure sale is $50,000.00. Therefore, the remaining not foreclosed deed of trust is securing the balance owed of $50,000.00. However should you bid or should the bidding return the full $100,000.00 it would be your duty to reconvey the other deed of trust. This applies even if the foreclosed property revert
