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When should extensions of time to complete foreclosure be requested?

Published 08/10/2012 03:39 PM   |    Updated 08/13/2012 09:07 AM
Are request for extensions of time to complete foreclosure done pre-sale or post-sale?

Extensions can only be requested as an appealed item after the claim has been paid and processed. In the VALERI environment, the application will allow 210 days plus the time for foreclosure in the state the property is located, and up to 180 additional days for bankruptcy filings. If termination is not completed in this timeframe, you would appeal the termination date that is used on the claim and you will be required to provide supporting documentation at the time of the appeal.