Old 04-13-2009, 04:06 PM   #1 (permalink)
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Update on NOD & How to extand the stay?

I was out of the country for almost 4 weeks. While I was gone, WF filed the NOD (2 days after I left). When I got back and picked up my mail from the post office and was sorting out the junk, I saw the certified mail and knew immediately what it was.

I'll be talking to them soon and asking for a short sale, try to delay the eviction. I spoke briefly to the 2nd, who is calling me almost everyday, and they said that since I had not contacted them in a while, they have stopped the modification.

All I had earlier done was answer 5 questions about my income loss. Anyway, I was told I would have to re-start the mod process all over again.

I think I'll just call and ask them for a short sale. My aim is to stay in the house rent free for at least 10 months. That is 5 more months for me.

I've read that if the house is rented, the renters get 2 extra months to live after the foreclosure. I am thinking of signing a renter's agreement with a friend to take advantage of the extra 2 months. Do any of you think that's unethical?

Any other ways to delay the foreclosure and extend the stay?


__________________
$365K loan 80/20. Both with WF
Current house value: 240K. Now reduced to 215K
Last payment: Nov 2008
NOD: Mar 16
Current Status: WF working on a Loan Mod under the Obama Plan.
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