I have won the REO on 09/28 on the auction in Miami for $52000, and closing got extended twice. 12/28 is deadline. the case is: there is no appropriate parking lot so the grass in front needs to be paved, and chain link needs to be fixed.

I have won the REO on 09/28 on the auction in Miami for $52000, and closing got extended twice. 12/28 is deadline. the case is: there is no appropriate parking lot so the grass in front needs to be paved, and chain link needs to be fixed.

We have offered options to purchase at lower price points to property owners with known "deadlines."

here is the problem....loan modification vs foreclosure deadline...my neice is in the foreclosure process and the foreclosure deadline is 1/29/09...does she need to becareful with this deadline (today) if she is within the loan modification process. thank-you for your precious time in this matter....i was just told that they did infact, extend the foreclosure deadline to 2/11/09....HOWEVER, i would still like to know what that answer would have been. would she have been protected by the loan modification process.

So to explain more fully what happened: I sent an offer on this foreclosed property without a deadline (probably a mistake, but my real estate agent advised me not to give a deadline since we are dealing with a bank and they have their own procedures, etc.).

The reason being property owners pay the tax bill after publication but before the final foreclosure deadline.

(I work better with an end goal and deadline!

The appeal deadline passed today at 4:00 P.M. (10 days since the original judgement). 

@Kim F.Your interpretation is only partially correct, but all accountants, me included, are underwater these days due to Oct 15 IRS deadline.

I think the worst thing that could happen to you would be to hastily buy a cheap property with some no money down scheme just because you're impatient to get started by an arbitrary deadline of January you set for yourself, and then you get stuck with a crappy property that drains your energy and potentially bankrupts you.