I'm In CA, last payment was March 2009. BofA. Just got notice on my door for Notice of Trustee's Sale executed by Recontrust. Notice states that the sale date will be on 4/21.
What I'm wondering if how long after the sale do I have to move out by? Will the sale actually happen on 4/21? Also, when do I start talking to BofA about cash for keys?
Thanks all, appreciate any feedback please.
I don't know about California, but I do know I've received the "notice" on my door from ReconTrust, but it did NOT have a sale date... They also sent me the NOD in the mail ELEVEN TIMES. Yep. I wish you the best. I am surprised it took them so long to get you an NOD, I was literally 100 days late, and that shiz was on my door PRONTO!
ReconTrust just auctioned off my former house in Southern California on 03/18/2010. According to my former neighbors, 2 days later an agent showed up with a locksmith and changed the locks. If your sale is scheduled on 04/21, you may wish to start looking for a rental ASAP. "Normal" landlord-tenant rules do not apply to a defaulting homeowner. You may wish to try the CFK thing pretty soon..In my case, it was not offered.
wow, one year from last payment? that's a looong time!
for DesertMe: what CFK were you referring to? I have a rental in Southern California that I plan to stop paying on (it actually is already in default, then put on forebearance, now offered a HAMP but I don't want to proceed), so I just won't make trial payments and let it go into foreclosure. BUt not sure how soon from here do I expect a notice of foreclosure to arrive. I have tenants that I want to notify ahead of time but want to get an idea how much time to anticipate.
ok i guess that means Cash for Keys??
Btw, on the question of notice, is this like a letter sent to you? Or do they actually paste a piece of paper on your door in big bold letters for the world to see?
When did you get your NOD "Notice of Default"? My understanding is that 3 months and 21 days is the minimum amount of time you have after NOD. BTW, my last payment was 12/08 and I have yet to receive my NOD from Wells.Originally Posted by shin11
While this is true, they can't just come and change the locks on you if the place is still occupied. The normal eviction process of a "3 day notice to quit" followed by further legal action (which can take months) to remove the squatt...err... previous owner.
If the place is already empty, you won't be offered a dime to leave it. As for the C4K thing, it's been my experience that the bank themselves will have no idea what you're talking about if you call and ask them about it. They're generally not the ones that offer it - it will come from the reconveyance company or possibly the local real estate agent given the contract to get the house back on the market.You may wish to try the CFK thing pretty soon..In my case, it was not offered.
As for my personal experience, a notice was left on my door a few days after the sale telling me to contact a local agent acting on behalf of the bank within 48 hours or they would initiate eviction proceedings. I did so, talked to a very nice lady, explained that I was still living in the house, was "hoping" to move soon, etc etc. but didn't actually commit to when I would be moving out. She thanked me for calling and told me that if and when I did vacate the premises to let her know as soon as possible so she could secure the premises.
I heard nothing for about 2 weeks after that, got another place, and began the process of moving. Just as I was about to give up and call the lady to give her the keys, I came back to find ANOTHER notice on the door offering me $5,000 to vacate the premises in "broom clean" condition within 30 days, or $3,500 if I could leave within 60.
Sold! I faxed back the form that day and told them I would be out in 10 days. On the 10th day I met the local agent at the house, she walked through for 20 seconds to make sure my stuff was gone and there was no junk left, and handed me a check. They had a locksmith waiting outside who changed the locks as soon as I left.
To the OP, I would definitely start looking for a place now, but you're not in a huge rush. These companies DON'T want to evict you - it's a time consuming and expensive process. They will work with you to be sure you can leave amicably and on your own time. Just be patient and wait for someone to come knocking if you can stomach it.
Great feedback all. I am looking for a place right now and want to secure something before my sale date of 4/21...even though I've appreciated all these mths now of no payments. Just want to move on but I will continue to let anyone who contacts me know that I am stlll occupying the property.
Donita - The NOD was sent to me by reg mail and certified mail. The Notice of Sale was taped to my door - yes, everyone saw!
Olypentax - I received the NOD in Dec, 10 mths of no payments, and exactly 90 days later, I got the NOS on my door.
Donita,ok i guess that means Cash for Keys??
Btw, on the question of notice, is this like a letter sent to you? Or do they actually paste a piece of paper on your door in big bold letters for the world to see?
To answer your question... it's both. They post the notice and a copy of your mortgage/deed on the door, with contact information for how to reach them, or places to get help (government agencies). They also will send you the notice in the mail, OVER AND OVER AND OVER (I received - literally - ELEVEN copies; six copies were certified, the rest were regular mailing).
Hope this helps! -
When you get your Notice of Sale, there will be a trustee sale number on it (TS#). You can go to ReconTrust under your state and county and input the TS# to see the auction status. Sometimes they will wait until a few days before the auction is scheduled before they postpone it to a later date (usually at least a month down the road).
Probably a better way to keep up on it is to call Recontrust directly and tell them you need to check on the status of a trustee sale. They will ask you for your TS#. You don't even have to tell them you are the owner of the house. Often times, they will wait until a few days before the sale to publish the "opening bid," which is the minimum amount the bank will take. The opening bid is usually the banks only bid (they won't have a rep at the auction to bid it up). Even if they do post an opening bid, it doesn't mean that they will go through with the auction as scheduled. They have been known to postpone sales for months.
Best of luck. My advice would be to keep a close eye on the status of the auction and have a place that you know you can rent on short notice. If the house is occupied after the sale, it will usually take a few weeks to evict you.
I think Recontrust is used only by B of A and Countrywide. People who have loans with other banks may want to try http://www.priorityposting.com
Ou BofA loans did go to Recontrust but our IndyMac/One West went to Aztec Foreclosure Corportaion.
I tell ya... I've had this damn TS# for well over a month now, and RetardTrust still hasn't updated their website to include my information. I will keep checking, and hope something will post soon... Best of luck to all!
My parents got their NOS from BofA in November, with the original auction date of 12/8/09. They had enough in savings to buy another house for cash, and so they moved out during the week of Thanksgiving. I just checked on the ReconTrust site, and the house was listed for auction for today, but the auction has been rescheduled for next week. So it is 4 months past the original sale date and still going.I tell ya... I've had this damn TS# for well over a month now, and RetardTrust still hasn't updated their website to include my information. I will keep checking, and hope something will post soon... Best of luck to all!
My recommendation to anyone getting a NOS is to wait until after the actual sale to move. Not only will you save on rent, but if you leave the house empty, you can still be held liable for anything that happens until the house is sold. So if the home is vacant and some vagrant breaks in, falls asleep with a lit cigarette and dies, you might be held liable in his death... You certainly would have to defend yourself in court.
Very good points, and I'm staying as long as I can, but once I do move (and unfortunately, it will be before the sale), I'm going to keep the full insurance on the place, and do a drive by every few days to check on it...
Best to all!
Hi! If I may ask, which state and county did you live? How much did the house sell? I am trying to gauge as to how much I should ask for the cash for keys. ... thanks!
I live in Las Vegas, Clark County, Nevada... How's everything moving along for you?
Oops, forgot to answer your other questions... First, are you in a house, condo, etc? Second, where are you located? Third, where are you in the process? I received around $2k for a condo in Clark County, Las Vegas, NV.
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