grrrr B of A cancelled my sale and gave me a mod without asking?

[briknope]

Why pay the HOA if you're letting the home go into foreclosure anyhow?

[mimirayo]

I am fighting because my loan is fraudulent/predatory luckily I am not too far underwater, if at all. I would do a 2%mod..but they would have to forgive EVERYTHING and put all the moey I GAVE THEM ALREADy toward the principle. Until then they are not getting a penny.

[Under_H20]

Originally Posted by briknope

Why pay the HOA if you're letting the home go into foreclosure anyhow?

1) Liability/insurance - While the home is still in your name, you are responsible for it. 2) I believe that any judgements the HOA gets against you can follow you instead of being locked to the house.

[abouttowalkaway]

My house finally finally finally got sold at Auction today .... funny enough, I also got an email from B of A that they just made the tax payment today too.

Now, I am hoping I can score some cash for my keys!!!

[cleach]

Good luck - I hope you get your cash!

[snapple candy]

About to walk, please give us an update. Di the auction go thru.

This is just too funny that they actually forgave your delinquent amount. That is a first. I think IG was right, when you dont want it, they give it to you. Im giving up on trying to make any sense at all out of these lenders actions.

[imlars]

Originally Posted by abouttowalkaway

Can't get rid of our house. My first trustee's sale was supposed to be back in August ... then it was moved to Sept and now Oct.

I got a call from BofA (Countrywide) and the guy said they have cancelled our sale and approved our modification. BUT WE NEVER APPLIED FOR ONE? They dropped our rate to 2% and have forgiven us all our $27,000 in past due payments. The home is still upside down by $150,000 so we really don't care.

I told the guy this and asked him to put our sale back.

A week later, a lady called with the same message ... mod approved and I also asked her to put us back our sale back.

Anyone else have a problem getting rid of their home???

Don't accept the mod if you don't want the house. Just don't return it. It's probably a bulk "mod in a box" and they know you can't afford it. Get the home listed for short sale and send a copy of the listing agreement to the lender. If its listed for 6 months or more and doesn't sell offer a deed in lieu. You need to talk to a real estate attorney.

[snapple candy]

"Don't accept the mod if you don't want the house. Just don't return it. It's probably a bulk "mod in a box" and they know you can't afford it. Get the home listed for short sale and send a copy of the listing agreement to the lender. If its listed for 6 months or more and doesn't sell offer a deed in lieu. You need to talk to a real estate attorney."

Imlar,
I am starting to consider this as a more serious option even in the event I am offered a perm mod. A real estate attorney had suggested this a few months ago if I didnt get a perm mod offer and I wasnt willing to entertain it. 10 years to break even just isnt looking too appealing to me and I am on the fence. By listing the property for short sale, does it somewhat stop or slow a foreclosure by operating in "good faith" to sell it? Same goes for a subsequent agreed deed in lieu?