Going to imminent TRUSTEE SALE (CA)

[Michael Morrongiello]

Situation: Owner Occupied SFH - Home is in FORECLOSURE - NOD filed months ago, NTS -Notice of Trustee sale filed a few months ago as well.;
The property is scheduled to go to sale in a few days (thus its within 5 days of the Trustee Sale AUCTION). 

Want to buy this as an investor (and not to live there) thus fall under the CA 1695 Home Equity Purchaser rules.
Also want to BUY the property SUBJECT TO their existing 3.375% FIXED INTEREST RATE 30 year loan.

Since they LIVE in the home, its a 1-4 family property and I am buying as an INVESTOR:
Have to use the required Home Equity Purchase & Sale Agreement (PSA), and provide
the Sellers with their Disclosures INCLUDING their right to RESCIND the PSA up to 5 Days after its signed. 

Problem: We DO NOT HAVE 5 days !!! - the property is GOING to Trustee Sale in 2 Days!
Q - Can a Seller in CA (who resides in this home, in default, going to an imminent Trustee sale) WAIVE their RESCISSION RIGHTS under any kind of HARDSHIP requirement ? as there is SIMPLY NO TIME left to give them their 5 Day Rights of Recession

Any insights appreciated here

[Joe Homs]

@Michael Morrongiello I was just recently able to close a similar property in 3 days.  However, it was an all cash transaction.  

1.  You can ask the seller to call the bank and try to postpone the sale.

2.  How do you plan on taking the home subject-to?  They are behind on their payments and you would need to bring everything current with the lender that is foreclosing?  I would get a letter from the lender in writing saying that they will postpone the sale if the loan is brought current.  Still very risky to send a bank money in foreclosure.

3.  I am assuming there is equity in the property?  The seller is close to losing it all and is willing to do subject to?  They have bigger issues then their right of rescission?

Good Investing...