How long can I expect to have a home?

**Sweatinbullets** · 12-10-2009, 11:51 AM

Ok so my back is finnally up against the proverbial wall. Can someone please tell me just how long I'll have a roof over my head when I quit making my house payment? I'm trying for the mod, putting my paper work in this week but just how long will it be before they forclose or take action?

-Thanks in advance

**BadBobMo** · 12-10-2009, 11:55 AM

How far you behind just so we all can help you, and have a starting point!

Big Booger · 12-10-2009, 12:03 PM

Also to add to BadBob's question - what state are you in? foreclosure laws vary from state to state -

**BudgetCutsinOC** · 12-10-2009, 02:13 PM

As long as you tell them you want to stay in your home I would say your have at least a year. Start saving your MONEY!! They key is to stall as long as possible without giving them SQUAT! I have been waitnig for 4 months just for a trial plan! So when they call me up and offer a trail plan, thats when I say,, NAH I just want to do a short sale now!!

**skeeter55** · 12-10-2009, 02:28 PM

BudgetCutsinOC you took the words right out of my mouth. I'm also waiting for a trial and im 4-months behind $19,000.00, but i think i will take the trial if its a good won. Buy then they may not even have a trial mod, they may just approve or DENIE us like they continue to do. Save your money hope for the best but prepare for the worst.

**Sweatinbullets** · 12-10-2009, 06:05 PM

this month will be my first missed payment. I'm in Kalifornia

**skeeter55** · 12-10-2009, 07:02 PM

Originally Posted by Sweatinbullets

this month will be my first missed payment. I'm in Kalifornia

You should have a long way to go, im currently 4-months behind in Cali, as long as you apply for the mod and fill out the hardship, taxes, and a P&L statement it could go on for many months if not a year. But stay on top of your lender every week. You may get some threatening letters on foreclosure and a quick sale, but just call them that day and continue sending your updated info.

**conra005** · 12-11-2009, 11:59 AM

skeeter55 - what do you mean by taxes and P&L statement?
I'm pretty sure I wont get a mod from my first Virtual, and I dont think Chase is going to approve a buy down or settlement. I want to stay as long as possible.

**skeeter55** · 12-11-2009, 12:15 PM

Originally Posted by conra005

skeeter55 - what do you mean by taxes and P&L statement?
I'm pretty sure I wont get a mod from my first Virtual, and I don't think Chase is going to approve a buy down or settlement. I want to stay as long as possible.

I'm self employed so i had to provide 2-yrs of taxes/bank statements/profit & loss for the business/home owner insurance/paid taxes on the home/and any other expenses to get the ball rolling for a trail payment which hasn't happened yet and its been 4-months behind in payments.

**SwillerAlesbane** · 12-11-2009, 02:45 PM

SAVE YOUR MONEY!!!

It will be a good long time before you get the real boot. When times were good, the quickest you could get booted out was 6 months...roughly. Times are not good for banksters, and they are buried with all the defaults. Just keep playing their game and call call call. The first time I went 90 days without paying...THEN I got the "trial plan". When they didn't want to give me my permanent mod, I stopped paying on the "trial". Went 60 more days on that fiasco.

However, if you PLAN on the worst case scenario (6 months no payments), everything else will just be a bonus. Use the next 6 months to PLAN your exit. You may actually get a good loan mod and keep your place, but it would be foolish to plan your future on a gamble. In addition, if your house is fixed up really nice with new stuff....discuss with your neighbors, friends, and family if they would be interested in buying any of it at good prices.