I received a "Notice of Intent to Accelerate" that came to me as registered mail today that states the following;
"If the default is not cured on or before December 21st 2008, the mortgage payments will be accelerated with the full amount remaining accelerated and becoming due and payable in full, and foreclosure proceedings will be initiated at that time. As such, the failure to cure the default may result in the foreclosure and sale of you property"
Based off other peoples experience with Countrywide and thier foreclosure proceedings, how long is the foreclosure proceedings? Ive heard that its 90 days from the December 21st date and others have informed me that it could be as soon as 30 days from that date.
The other question is that does Countrywide then send out another letter indicating when the foreclosure sale takes place to give you a heads up.
My property is located in Northern California (Santa Rosa)
Any suggestions would be greatly appreciated.