How long between first missed payment and foreclosure?

[ultimate4799]

Hey Knownick, one more question. As long as the home looks live in, they won't change locks on doors, etc after it got sold, are they? I worry since I still have a little stuffs at home like bikes, some foods by the pantry etc.

[knownick]

Originally Posted by ultimate4799

Hey Knownick, one more question. As long as the home looks live in, they won't change locks on doors, etc after it got sold, are they? I worry since I still have a little stuffs at home like bikes, some foods by the pantry etc.

Well, they didn't do it to me, but that's anecdotal evidence at best.

I was a little worried about this too and we were religious about stopping by and checking on the place every day.

[countrywideh8r]

Wow... $5k cash for keys! My real estate agent (and friend) told me I'd be lucky to get $500 because of the sheer amount of stuff going on.

My NOD was filed on 9/28/09, sale date is 12/28/09.

I stopped making payments 12/1/08... so I had 13 months w/o rent :P

[we're_still_reviewing]

Originally Posted by countrywideh8r

Wow... $5k cash for keys! My real estate agent (and friend) told me I'd be lucky to get $500 because of the sheer amount of stuff going on.

My NOD was filed on 9/28/09, sale date is 12/28/09.

I stopped making payments 12/1/08... so I had 13 months w/o rent :P

Hopefully that'll give you a great new start after you put this mess behind you. I hope ours drags on almost as long.

Good Luck to you.

[AnotherCalifornian]

California - BofA - last payment May 09, NOD filed 10-2-09

[LittleBlueTruck]

state: California
bank: Wells Fargo 1st (80%) and 2nd (15%) purchase money loans
first missed payment: Feb 1, 2009
NOD filed: Jun 18, 2009
Auction Date: Oct 16, 2009
Short Sale Escrow Close Date: Oct 15, 2009

Yep, beat the auction by 1 Day. 8-)

[Trance]

Wow, a couple people with Indymac in this thread are saying they were able to stay in their homes for like 2 years...I hope we can do that.

1. CA - Los Angeles County
2. Indymac on the 1st & 2nd - we purchased this run-down old 1950s home in 2006, zero down payment, and have been paying interest only (like almost $4,000 per month including property taxes for this 3 bedroom technically 1 bathroom home), this home sucks and I can't wait to move out of it and I think it has high lead levels because my lead levels are elevated, the master bedroom has zero windows in it, the second bathroom of the house is located outside and is accessed via the patio, the main bathroom of the house has a really weird tile custom shower with two tiny narrow steps that you have to step down on to get into the shower so its very dangerous, the toilet is mounted crooked and has a really difficult time flushing, the house needs a new roof and is leaking really bad in one of the rooms, but its a good thing it doesn't rain much here, lots of plumbing problems too with shower always clogging up and kitchen sink always leaking. I learned my lesson and am only owning a new home from now on, and if I have to build it myself I will.
3. May 2009
4. No date of foreclosure yet, but the Notice of Default was filed in September 2009.

[KT in CA]

Well our trustee sale happened today. So our first missed payment was 1/15/09 and our sale date was 10/23/09. Now we wait and see what happens with our second.

[stukinrno]

First of all, thanks everyone. It's great to know the time frames things are happening.
Here's mine:
State: NV
Bank: Aurora (1st) , Wells Fargo (2nd) HELOC
1st missed payment: 1st - 7/09 2nd - 8/09
>300k under

NOD: I think a few days ago 10/22/09
I say this because I'm not sure if I got a NOD. This letter was posted with tape on the outside of my front door with the heading "Notice of breach and default and of election to cause sale of real property under deed of trust" Does the NOD talk about curing your missed payments? And looking at all the other posts, I didn't think I would get it this fast.

Non-stop phone calls day and night 6-7 times a day. I have ignored them so far. Is it better to ignore or speak with them so they'll stop calling?

Thanks!!

[camilami]

Originally Posted by camilami

State: CA
Bank: HomEq Servicing (80/20)
Missed Payment: 1/09
NOD: 5/27/09
NOS: 9/17/09

UPDATE:
NOS Postponed to 10/19/09
Sale took place as scheduled.
Cash for keys to be out by 11/4/09.

[wanttokeepit]

Originally Posted by camilami

UPDATE:
NOS Postponed to 10/19/09
Sale took place as scheduled.
Cash for keys to be out by 11/4/09.

How much did they offer you? (cash for keys)

Our case:

Servicer: Aurora
Investor: unknown

Last Payment: March '08
No scheduled sale date as of today. Currently on a HAMP trial that started Oct. 1st and ends Dec. 1st They told me enrolling in this trial plan would suspend my foreclosure, so since March of last year I have only made one payment and that was last October 1st.

[camilami]

Originally Posted by wanttokeepit

How much did they offer you? (cash for keys)

Our case:

Servicer: Aurora
Investor: unknown

Last Payment: March '08
No scheduled sale date as of today. Currently on a HAMP trial that started Oct. 1st and ends Dec. 1st They told me enrolling in this trial plan would suspend my foreclosure, so since March of last year I have only made one payment and that was last October 1st.

They offered $1900. I didn't even have to ask. I just have to clear it of personal blongings (not clean it, though) and leave appliances, light fixtures, etc. They know I'm not living there, so a couple hours work for me. They said they offer "a little more" to people that are still living there.

[we're_still_reviewing]

Originally Posted by countrywideh8r

Wow... $5k cash for keys! My real estate agent (and friend) told me I'd be lucky to get $500 because of the sheer amount of stuff going on.

My NOD was filed on 9/28/09, sale date is 12/28/09.

I stopped making payments 12/1/08... so I had 13 months w/o rent :P

Do you mean NOS ? If so, then when was the NOD ?

Thanks.


__________________________________________________ ________

Paying it Forward

[KT in CA]

How are you guys being contacted for Cash for Keys, or are you contacting someone yourself?

[knownick]

Originally Posted by KT in CA

How are you guys being contacted for Cash for Keys, or are you contacting someone yourself?

They left notices on our door.

[camilami]

Originally Posted by knownick

They left notices on our door.

Yes - After the trustee sale a property management company left a letter on the door for the "resident" to call them. I stopped by the place a couple days after the sale and found it. Called them, they made the offer.

[we're_still_reviewing]

Originally Posted by camilami

They offered $1900. I didn't even have to ask. I just have to clear it of personal blongings (not clean it, though) and leave appliances, light fixtures, etc. They know I'm not living there, so a couple hours work for me. They said they offer "a little more" to people that are still living there.

If you don't do the cash for keys can you leave stuff behind ? I ask because we will be renting after this is over and I'm not sure what kind of storage we will have. Should we start getting rid of stuff or should we just leave the stuff in the house that we don't want.

Thanks

[camilami]

Originally Posted by we're_still_reviewing

If you don't do the cash for keys can you leave stuff behind ? I ask because we will be renting after this is over and I'm not sure what kind of storage we will have. Should we start getting rid of stuff or should we just leave the stuff in the house that we don't want.

Thanks

They told me that if I didn't want to take the offer, they would just send a locksmith over to change the locks and we were done. They would then pay a company to clear the place out later. One interesting note is that the $4keys contract also states that I agree to vacate and they stop any legal eviction action. Otherwise, I would still receive attorney's notices on the door about eviction rights. My hunch is that the $1900 is less than the legal costs to verify there is no resident to evict and dispose of the leftover property.

[Trance]

Originally Posted by Trance

Wow, a couple people with Indymac in this thread are saying they were able to stay in their homes for like 2 years...I hope we can do that.

1. CA - Los Angeles County
2. Indymac on the 1st & 2nd - we purchased this run-down old 1950s home in 2006, zero down payment, and have been paying interest only (like almost $4,000 per month including property taxes for this 3 bedroom technically 1 bathroom home), this home sucks and I can't wait to move out of it and I think it has high lead levels because my lead levels are elevated, the master bedroom has zero windows in it, the second bathroom of the house is located outside and is accessed via the patio, the main bathroom of the house has a really weird tile custom shower with two tiny narrow steps that you have to step down on to get into the shower so its very dangerous, the toilet is mounted crooked and has a really difficult time flushing, the house needs a new roof and is leaking really bad in one of the rooms, but its a good thing it doesn't rain much here, lots of plumbing problems too with shower always clogging up and kitchen sink always leaking. I learned my lesson and am only owning a new home from now on, and if I have to build it myself I will.
3. May 2009
4. No date of foreclosure yet, but the Notice of Default was filed in September 2009.

So today in the mail, I got an advertisement from someone saying that he can help us do a short sale blah blah and he had the information on who is our trustee and the public auction sale date as 1/16/2010. We have not received any notice elsewhere about a sale date being set yet. Where did he get the sale date from? Or did he just make it up?

[snapple candy]

Trance,
Go down to your local courthouse clerk and see what has been filed. Its possible they have filed or have NOT filed a Notice of Sale on the property and of course not served you the way they should. Keep a close eye on this....you may be able to track this on-line. I had some scum realtors come to my door immediately after a Notice of Sale was filed trying to get a short sale listing. Investigate. Investigate. Investigate.

[caldwellb02]

Is this true in CA also snapple - where they don't have to give you a notice as long as the clerk at the county has it? for that matter, does it need to be filed at the clerks office. The reason I ask was I went there and got a certified copy f my loan on 10/29 and there was no NOD filed as of that date.

If the law is that they don't have to notify me, then I need to know that so that I can go to the Recorder's office to check every week (we are too small a county to have this online).

[Irish Gal]

Originally Posted by caldwellb02

Is this true in CA also snapple - where they don't have to give you a notice as long as the clerk at the county has it? for that matter, does it need to be filed at the clerks office. The reason I ask was I went there and got a certified copy f my loan on 10/29 and there was no NOD filed as of that date.

If the law is that they don't have to notify me, then I need to know that so that I can go to the Recorder's office to check every week (we are too small a county to have this online).

Hey Caldwell,

Check out this CA Foreclosure Laws thread (by Moe):

California Foreclosure Law

It's too bad your county is so small that there's no on-line service provided. Most folks can do a daily check on-line, at their County Recorder's office. This is esp. handy after the default period crosses over into the legal timeframe re foreclosure. What a hassle to have to go down there for updates. If it were me, I would go down and check on a weekly basis, esp. as time drones on.

Lastly, in CA, you are supposed to be legally notified via certified mail and regular mail (I believe) for NOD. Not sure about NOS specifics. Also, check out all posts/threads here re Professor Shays (CA atty and foreclosure expert turned community college professor in Sacramento). He's answered just about every question out there re CA foreclosure/lender issues. He was a foreclosure atty for banks in his previous life. After he saw how unethical, predatory and ugly the mortgage lending/broker/real estate biz had become, he decided it was time to help consumers, which he did here for a while.

Good luck.

[knownick]

Originally Posted by Irish Gal

Lastly, in CA, you are supposed to be legally notified via certified mail and regular mail (I believe) for NOD.

Indeed. We received seven (no joke) certified copies and seven matching copies sent via regular mail.

Not sure about NOS specifics.

Same as NOD, with the additional requirement of also posting notice "in a conspicuous location" on the property itself.

[MZWITHHOPE]

Caldwellb02: I am in CA/CHASE and they send me the notice of sale about 3 months after the notice of default and the sale date was about 2 months away. They also send you regular and certified mail of the notice. They also send another regular mail addressed to the resident just in case it's a rental. They come and post the notice on your door and take a picture of it. They also advertise it on the local paper for 3 or 4 weeks. We've already gone through all that. I take it all our neighbors know about it or most of them. My husband mentioned to me our neighbor we never talk to asked one day if we were okay?

[silent73]

Does anyone have an opinion on whether the process is quicker if your property value is higher or in a more 'desirable' area? Most of the homes in my area probably average $800k.

Thanks.