Loan Modification Forum - LoanSafe.org - View Single Post - Is there still no one with a modification offer on the dec. 1???

serenevenice · 01-11-2009, 08:07 PM

Jager, Yes, we did receive a notice of entent to accelerate. We received in on November 19th and stated that if we did not pay current by 12/17, they could move toward foreclosure. I called them and asked them if this meant that we were denied the modification, that they might foreclose. My answer was yes that's right. Then I received this bill last week, that says because we are behind there is only 1 option for payment instead of 4. The amount is just a little higher than our normal minimum payment. It doesn't say anything about paying the additional 9,000 of missed payments. I can't really council you about how many payments it takes to begin foreclosure as it each state is different. In our state they can begin the foreclosure process 70 days after you have defaulted (or just over 2 months). Then at 120 days before Sale they send a notice of default. I think that this one has to be registered or certified mail. 90 days beore sale they send a Notice o Turstee's Sale. Between 70-190 days or 11 days prior to sale you have the opportunity to cure the default by paying current. 10 days prior to sale you would have to pay off the entire amount of the loan. The trustee's Sale Date is on Friday's unless a holiday. But again that is for my state of Washington. We actually went to see a Real Estate attorney and showed him the notice of intent letter and he wasn't sure i it was the Notice of Default. He thought that it had to be sent registered mail, but it was his opinion that it contained all of the correct terminology.

Start your own thread and ask Moe or *** about other methods that you might try while you wait.

Katystired, We are with you!! We are going to make the payment next week so that we are only 3 months behind.

01-11-2009, 08:07 PM	#15 (permalink)
serenevenice Senior Member Join Date: Dec 2008 Posts: 78 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Is there still no one with a modification offer on the dec. 1??? Jager, Yes, we did receive a notice of entent to accelerate. We received in on November 19th and stated that if we did not pay current by 12/17, they could move toward foreclosure. I called them and asked them if this meant that we were denied the modification, that they might foreclose. My answer was yes that's right. Then I received this bill last week, that says because we are behind there is only 1 option for payment instead of 4. The amount is just a little higher than our normal minimum payment. It doesn't say anything about paying the additional 9,000 of missed payments. I can't really council you about how many payments it takes to begin foreclosure as it each state is different. In our state they can begin the foreclosure process 70 days after you have defaulted (or just over 2 months). Then at 120 days before Sale they send a notice of default. I think that this one has to be registered or certified mail. 90 days beore sale they send a Notice o Turstee's Sale. Between 70-190 days or 11 days prior to sale you have the opportunity to cure the default by paying current. 10 days prior to sale you would have to pay off the entire amount of the loan. The trustee's Sale Date is on Friday's unless a holiday. But again that is for my state of Washington. We actually went to see a Real Estate attorney and showed him the notice of intent letter and he wasn't sure i it was the Notice of Default. He thought that it had to be sent registered mail, but it was his opinion that it contained all of the correct terminology. Start your own thread and ask Moe or * about other methods that you might try while you wait. Katystired,** We are with you!! We are going to make the payment next week so that we are only 3 months behind.