Delaying Foreclosure Auction

[Pratik P.]

Hi everyone, 

I was wondering if anyone has any good ideas to delay foreclosure auctions by even a few days?

I had someone call us today and apparently his house is going to auction tomorrow at 1PM. He owes about 380k on it and the house is worth around 520k......so lots of equity there. 

Unfortunately, one day is not enough for me to buy it. I would need at least 4 days to do title work and line up financing. I'm wondering if there are any tools I could use when something like this happens again in the future. 

I know you could file a skeleton bankruptcy, but he already used that card.....I told him the only thing he can try is to call the lender and ask them for a few extra days so he can try to sell it to a buyer....

[Bob Floss II]

In Illinois, I can typically file an emergency motion to delay the sale but I need around 4 days to safely get it done. However, it can be tough to get the court order if the homeowner has already filed bankruptcy.