Well, it looks like I find myself in good company. Here are the salient facts pertaining to my deal.
Purchased CA home in 2005 with CA Pay Option Arm via Countrywide.
Lost Job in August of 2009. Made payments until Oct. Couldn't get anyone on phone at Countrywide who seemed to care.
Missed Oct, Nov, Dec. Resumed Normal payments in January and have continued paying throughout 2010.
In the last 7 months, I've been told that I had a loan mod only for it never to actually happen, another loan mod we never received paperwork on, and finally around June30, we went through a HAMP mod on the phone, they told me I'd receive the paperwork via FEDEX within 30 days. Nothing.
So, I go on brief vacation at end of July. I get back. On July 30th, they sent a Notice of Transfer to "Foreclosure Review" committee. And on August 3, they filed a NOD.
I could back the giant back amount with penalties and resume payments at this point by dipping into IRA money, but it's got a 5 year recast and will explode in October 2010 anyway. So I need a mod.
I've never received anything regarding the CA Settlement.
Admittedly, I haven't been as diligent about this as I should have been. But I am starting now. Basically, I'd assumed that a Mod would happen, and it seemed more or less a wash with comparable rentals nearby, so I figured I'd stick with the house.
Now, I'd like to keep working toward the Mod, but keeping the house is not necessarily all that much more attractive. It seems I could short sale pretty easily to get out of it. But I don't really want to do that either. Most of all, I'd like to do any of the agreed upon mods in the past. Frustrating.
My question is: (a) by filing the NOD are they basically calling my bluff? Should I withhold payment? and save it? (b) If I do decide to walk? how long is it typically between NOD and the day I drive away in a uhaul?
Such a terrible situation, but almost comical after reading so many people with similar stories. Unbelievable how this is being handled.