Once you get an official notice of foreclosure from Chase , how long do they give you to leave your current home & find a place to rent?
Thank you!
Once you get an official notice of foreclosure from Chase , how long do they give you to leave your current home & find a place to rent?
Thank you!
depending on the state you live in anywhere from 30-180 days. There used to be foreclosure info on loansafe. It was a sticky from last year. Just search for it. It will have all the info you need. State foreclosure laws. Or something to that effect.
Thank you, evo13. I appreciate your input.
I recieved the notice of acceleration and the official filing at the country records office of a "reconveyance" of title to their attorney and they filed the "breach and election to sell" back in August of 2009. So it's been 8 months since the filings.........they still haven't taken it or set the Trustee sale date yet.
Hello LostVegas:
I take it that you are not paying for the home? Are you going to stay yet or leave the home? Eight months seems ridiculously long! Thanks for your reply.
Yes, not paying. Our last payment was January 2009 (15 months ago). We recieved the notices all by August of 2009. We were paying our HOA dues and homeowners insurance seperately, and our taxes were paid through escrow. We stopped paying the HOA once we received the filings and in October Chase "unescrowed" our taxes (is that even a word?). We found out when we received our first ever tax bill. We still pay homeowners, as it is bundled with our vehicle and life insurance payments. Plus we wanted to protect ourselves. The HOA also followed suit in November of 2009 by filing their own lien. They followed with a default in January of 2010. We stayed through the very end of 2010, so a year of no payments, and used that money to pay off all other creditors, cc, debt, vehicle loans and to save for the move. We've been in a rental for 2 months now. Im happy as a clam
Hi LostVegas:
Good for you. We are thinking of leaving our home. Chase is giving us the typical run around for 13 months. How did you get a renter to approve you ? Did you write a hardship letter explaining your situation before they approved you as a rentor? We have had a BKT & now our home & we are concerned that rentors or property managers won't let us rent with bad credit. Any ideas? Thank you.
Luckily we had family that had a house and had just signed a renter, in January of 2009. We told them we'd rent from them when the renter's contract was up in January 2010, so we didn't have to qualify. I will say though, that we are in Vegas obviously, and more than 80% of homes are underwater and we have the highest foreclosure rate. Not eveyone is with an agency. So I'm sure there are tons of people listing their house, who had to leave and just want someone that will maintain the property and pay on time. We saved up, so we could offer 2-3 months rent as a deposit if it was needed. We won't be staying here forever, because when accepting this rental we made a significant downsize, loosing half our square footage and lots of space. Because we are renting from family, there is no contract for the amount of time we have to stay, they are just grateful to have someone they know in the house. Most of our utilities cut in half because of the smaller home, and the "landlord" pays the taxes, HOA dues, sewer, garbage, pest control and weekly landscapers.....these were all things I had to pay with my last house, so we are definitely saving. Also, while we were preparing to leave the other house, we paid off our cc, and two vehicles. So we are actually now free from about NINE BILLS that we were previously paying. And considering our employer is making more layoffs and payroll cuts, we feel were were smart to get rid of those expenditures, while we had the chance. We are hoping in the next two years to upgrade our rental, by moving. We will pick somewhere closer to our schools and work which will cut down on our gasoline expenses and the wear and tear on the vehichles (we have LONG commutes). We could buy again.......but we NEVER intended on staying in Vegas that much longer anyway. I'd already be gone if it wasn't for our school and jobs. So why buy into a city that I may not be in in the next 5 years? It's amazingly freeing now that we are renting.
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