I can see postponing cash flow to pay off debt early.I think it is a gamble to expect cash flow based on rent increases. 

> * There may be forbearance options available to postpone payments.

Hmmm, the option of opportunity zones (putting the money in an opportunity trust) could postpone or even remove the cost of paying the taxes.

The down side of using New western is that once you sign the contract and give them the earnest check you have no due diligence period and because the market is so hot now if you postpone signing the contract until you do your due diligence the property is gone, most properties don't last a full day, for that reason I think they are more suited to full time experienced rehabbers.

This tenant will have no continuing obligation for rent past December 1.Delaying Eviction for Nonpayment of RentThe SCRA requires courts to postpone (stay), for up to three months, some residential evictions for nonpayment of rent.Which tenants are affected?

http://www.biggerpockets.com/renewsblog/2013/01/27...This would be good for you to review.If the first tenant meets your criteria,, then your lucky.. but it's not uncommon to postpone a decision for a few days,if you have multiple people applying, and then run the top most qualified of the bunch first.. if you don't run the other ones you return the processing fee.

If they weren't out, I would have postponed closing... that'd likely put a fire under the seller to take stronger action.

In CA, as I'm sure you're aware, the auctions (and accompanying postponements and cancellations) are every day.

The logistics of what you're going after are extensive - not impossible - but very extensive and very risky, way beyond what I'm comfortable with.It's not common that a 1st and 2nd position are auctioned on the same day - so you might buy the 2nd today, and then the foreclosure on the 1st is scheduled for auction in 1 week, or 4 weeks, but then gets postponed, or gets sold for 10k less than the debt, or it gets rectified and the homeowner saves it through bankruptcy, or they somehow save it, and now you have to deal with collecting or getting a judgement, and then collecting on the judgement.I don't think I've ever paid more than the original debt at the trustee sale.  

If I contact the trustee of the first and let them know I am the new owner, will they postpone the auction so I can have more time before paying off the first?