I will try to make this simple.
Before Original Sale Date: If the BK was filed prior to the original sale date, then after BK relief, you start at the next available sale date (generally the date you already have in GTS, MDS etc.) and add 365 day. Since they did not have any days to proceed to sale prior to the BK being filed they still have the one year available after BK has ended.
BK filed after original sale date: You calculate the days the bank was able to proceed to sale PRIOR to the BK being filed. So if the sale had been postponed 30 days, you take 365 days minus 30 days (that were available to proceed to sale. Then after BK relief, you start at the next available sale date (generally the date you already have in GTS, MDS etc.) and add 335 day. Last Possible Sale date.
Multiple BK filings: You do the same thing as above. You calculate the dates the Bank had to proceed to sale from the time of the BK relief to the next BK filing. Example. 1st BK ended (relief) on 2/8/22and 2nd BK filed on 3/1/22. The bank had 22 days to proceed to sale between relief from the 1st BK and filing of the 2nd BK. Then after BK relief of the 2nd BK, you start at the next available sale date (generally the date you already have in GTS, MDS etc.) and add 343 days. Last Possible Sale date.
Feel free to call me if you have any questions. 303-271-8576 direct line.
Holly Ryan, Esq.