An overview of what we've been through, so far.
My initial post was back in September, so a quick recap:
CA home purchased late 2005, price $1,220,000.
Original Purchase Money jumbo mortgage, 20% down, fixed rate, 30-yr.
No second, no refi, no heloc.
Value $700,000-750,000 (losing about $50K per month now)
Lender: Wells Fargo
The last payment we made was September 2008. Our first missed payment was Oct 08.
We are now more than 5 months past-due. We have not received a single phone call. As far as we know, a notice of default has not been filed. I check the county recorder website every day. We still receive our monthly statements, showing the past due amount and late fees. We have received two mailings from HOPENow. We received one certified letter from the lender stating that our loan was past-due and to call them to discuss options. We didn't call, because we know it's past-due and we don't want any options except to get away from this *%$@ house. Our last statement had a note in the margin which stated that our home was in the foreclosure process - whatever that is supposed to mean. Today we received a letter stating that our loan is past-due, and that if we make any payments the payments much be in the full monthly payment amount - otherwise the payment would be returned to us.
Like many others on this forum, I'd like to just get things over with. I'm wondering if, in the end, we might have to force the lender to take back this house!