Hello all! First post after about a a year and a half of lurking. We are at the end our our strategic default with Wells Fargo in the East Bay, CA. Our original auction date way March 23, 2011 and it has been postponed 3 times since then. The property is a condo purchased for $405K in 2005 and worth about $230K last we checked.
We WISH the bank would just get over with the foreclosure process. We never tried to extend the process, never attempted a short sale, never intended to do anything but just walk away from a bad investment.
Has anyone else been stuck in this foreclosure limbo? How many times was your auction postponed? Were there reasons your bank didn't want to take possession of the property? Is there anything I can do to move the process along?
I would REALLY like for the next auction date (May 25) to stick.