There could be any number of reasons:
- Borrower is pursuing a workout/short sale
- Borrower files bankruptcy
- Title issues that cannot be cured by foreclosure
- Errors in the foreclosure filings
- Problems with loan or loan origination. We saw auctions delayed while there were law suits against the banks
- Problems with the lender. For example all IndyMac foreclosures were suspended when it went into FDIC conservatorship a few years ago.
- Sometimes the investor/bank has a buyer in the wings and is negotiating with them (I've seen this accelerate the date rather than postpone it)
That's all I can think of off the top of my head. @Wayne Brooks will know more about the Florida process. In Utah, we just call the trustee and ask.
Agree with above, plus loan mods, and loan mods attempts, bad paper work/procedure with the banks and they have to start over, etc.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!