My situation: Bought CA townhome in 2005 for $325,00. No money down. 1st lender is Chase, 2nd is with Ocwen. Loan modifications on both loans in 2008. Lasted about 6 mos till we defaulted again. Last payments were made in Sept 08. Total payments per month + HOA is + $2500/mo. NOD filed on 2/18/09. We are in "pre-foreclosure" status. i guess we still have till May/June to remain in this home till a Notice of Trustee Sale is filed.
We always planned to move into a rental (single family home) eventually. I am very specific with the location and price range of a rental. We found one yesterday (thru a property mgmt co.) and we got approved for it. We will make it a slow move since we're not forced out of our current home yet. It will give us time to get rid of junk accumulated the last 4 STRESSFUL years. I didnt want to miss out on a rental within my preferred area and price range. Who knows if one will not be available by the time May/June arrives?? Is it premature to already find another place to live?
For those of you already moved out, at what point did you find your rental or place to live? Some lady from Chase left a message on my answering machine to call (at my earliest convenience)...but I'm gonna keep ignoring. I'm not interested in working anything out at this point.
Thanks for reading =)