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Lisa in MN · 12-12-2008, 02:23 PM

Hi KT,
We stopped paying in April of this year, had a sheriffs sale scheduled for Dec 4th that WAMU/Chase postponed- still no date. The longer it is postponed, the better off we will be. MN has a 6 month redemption period. My brother is a CPA and he said he believes that they will ultimately, in the end, give most of us a manageable deal. The fact that WAMU is still "putting together" my QWR I sent 33 business days ago, tells him they are going over it themselves with a fine tooth comb to know what we might be planning. I read somewhere- probably here- that 70-75% of subprime mortgages ritten in the last 3 years have TILA violations! I think it is worth it to pay for a document review and am looking into that. For us the most obvious is the inflated appraisal in 2006 by the "expert" hahahahha. As for recourse, I read that in MN it is rare because companies know that we have no money or wouldnt have foreclosed, and it isnt worth it in the end. ( attorney fees, etc...)
Like you I will deal with things as they come along. My daughter is much better off in a nice maybe smaller townhouse or apartment with cool amenities and parents who arent stressed and fighting all the time.One interesting note is when I spoke to someone at WAMU regarding a loan mod that was a joke...she asked me how much I could send because we are 8 months behind. I asked what the terms are of her loan mod and she said "I cant tell you thats until you tell me what you can send" I told her 500.00 and she asked if that was all because what have we done with 8 months of house payments? I told her I paid off other debt and she said "You should have saved it" and I replied," Are you kidding me? So you can see we have 20,000 in the bank and deny a lod mod based on that??????? I will not play this game with you" She was beyond rude. If you do put the housepayment $$ away, even a part of it....put it someone elses account or something because my brother said they will use use it as an asset- AGAINST you. Good Lord, the games never end.
Have a great weekend!

12-12-2008, 02:23 PM	#14 (permalink)
Lisa in MN Senior Member Join Date: Sep 2008 Location: Minnesota Posts: 132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: What are your plans after foreclosure? Hi KT, We stopped paying in April of this year, had a sheriffs sale scheduled for Dec 4th that WAMU/Chase postponed- still no date. The longer it is postponed, the better off we will be. MN has a 6 month redemption period. My brother is a CPA and he said he believes that they will ultimately, in the end, give most of us a manageable deal. The fact that WAMU is still "putting together" my QWR I sent 33 business days ago, tells him they are going over it themselves with a fine tooth comb to know what we might be planning. I read somewhere- probably here- that 70-75% of subprime mortgages ritten in the last 3 years have TILA violations! I think it is worth it to pay for a document review and am looking into that. For us the most obvious is the inflated appraisal in 2006 by the "expert" hahahahha. As for recourse, I read that in MN it is rare because companies know that we have no money or wouldnt have foreclosed, and it isnt worth it in the end. ( attorney fees, etc...) Like you I will deal with things as they come along. My daughter is much better off in a nice maybe smaller townhouse or apartment with cool amenities and parents who arent stressed and fighting all the time.One interesting note is when I spoke to someone at WAMU regarding a loan mod that was a joke...she asked me how much I could send because we are 8 months behind. I asked what the terms are of her loan mod and she said "I cant tell you thats until you tell me what you can send" I told her 500.00 and she asked if that was all because what have we done with 8 months of house payments? I told her I paid off other debt and she said "You should have saved it" and I replied," Are you kidding me? So you can see we have 20,000 in the bank and deny a lod mod based on that??????? I will not play this game with you" She was beyond rude. If you do put the housepayment $$ away, even a part of it....put it someone elses account or something because my brother said they will use use it as an asset- AGAINST you. Good Lord, the games never end. Have a great weekend!