Moving before home is auctioned- How do I handle? (Forwarding address?)

[At_Peace_in_NorCal]

We are moving to our rental prior to our sale. I'm not sure who to contact about documents after our home is sold. The trustee?

We are also turning off water, electricity, etc. so our beautiful palms and roses will surely die if they do not take over the utilities. Not to mention the lawn will not be mowed anymore.

Is a PO box the best route? Should we just provide our new street address? Who should have it? The bank, trustee, HOA? (We know we will need to pay HOA until the title transfers.) What else?

Any clarification would be helpful! Thx!

[freedomwon]

At_Peace_In_NorCal - Before addressing your questions, answers will depend upon whether or not you plan to get "cash for keys". Some have gotten upwards of 1 percent of their loan balance on their first mortgage with the cash for keys program. Others have gotten less if they take more than a week or so to vacate. Did you want to leave that option open or just walk away now & be completely done? It makes quite a difference how your questions will be answered.

[At_Peace_in_NorCal]

Thanks for the reply freedomwon. Good question. Is Cash for Keys even an option if we no longer live in the house? Won't the trustee know we are not there when they come to the door? We're open to guidance as to how to handle the most efficient and profitable way. Getting a bit of an infusion of cash would be terrific. We need all we can get! Let me know your thoughts.

Our Redemption period ends on July 20th. We get the keys to the rental on Aug. 1 and then the move date is scheduled for Aug. 4th. We believe the auction will be around Aug. 18 as that is what all of the letters from the realtors say that we have been getting. Of course, no way to tell for sure. Thanks again for your insight.

[freedomwon]

Once your home is sold at the trustee sale, it will more than likely revert back to the beneficiary. Within a few days, a R.E. agent will be in contact with you. Others have reported that if you're not home, the agent will leave you their contact info on the door (providing it looks like you live there).

Most banks do conduct "occupancy" checks. If they suspect you are no longer living there, they will secure the property & change the locks. If you are in fact not living there but wanted cash for keys, there are things you can do to give the appearance you still occupy the property. It is, however, a risk you'd need to be willing to take. Other posters on loansafe have kept all the blinds drawn / drapes closed (so nobody can see in) & left a plant on the front porch. That was enough to give the appearance of occupancy.

Once you submit a change of address, obviously you have moved. You could also check with your post office about a "hold for pickup". I think you can utilize that service at no charge for 6 months. Most banks & creditors have a "address correction requested" printed on the outside of their correspondence envelopes. So they will discover you have moved, unless you opt for a P.O. box. P.O. Box is a good decision for now as it leaves your options open if you're undecided.

In Ca. it seems, the trustee sale date can & does get postponed. My sale date was for June 2011, although I've actively worked on getting postponements. I'm still occupying my home! The banks are literally controlling the real estate inventory in some of the hardest hit areas. I haven't followed what the trends are in San Ramon. Now if you're near the Blackhawk / Danville area, I'd imagine the bank would want to swoop up your house in a heart beat!

Keep paying the HOA dues or they will come after you!

[At_Peace_in_NorCal]

Thanks again freedom. We considered trying to drag it all out but we have 2 small kids and 3 cats so we were really, really grateful to find a pretty rental town home for all of us and close to school. We jumped on it.

I guess we could certainly try the cash for keys route. Worse comes to worse they change the locks and we get nothing. Sounds like the P.O. box is a good idea.

What about the actual NOS documents? I thought they were sent certified as are the NOD docs. What happens if you aren't able to sign for them? I know they send copies regular mail as well for NODs.

As far as the area, yes we are close to Blackhawk but there is already one BO property that is the same as our model one street over from us. It's being kept off the market in shadow inventory it seems for now. Another home (not our model) was REO for a year before it sold recently. Off and on the market. Another on our street in in FC and I believe it has already been sold. So not a great time for our little area. Who knows what the bank will end up doing with ours. All I know is that someone else will get the mortgage we should have gotten that they were unwilling to give us. So completely wrong.

Thanks again for the feedback! I'd love to hear more stories about the time around auction/moving/cash for keys/etc. Thx.

[freedomwon]

What about the actual NOS documents?

The earliest a NOTS will be posted on your property is 90 days after the NOD has been filed. An agent for the trustee tapes it to your house, takes a photo for proof of posting & it also gets filed with the county recorder. YES, you will also receive certified copies of the notice that you will need to sign for. Having the P.O. box will work out nicely for that. A courtesy notice will be left in your box & you can sign for the certified letter at the post office service window during normal business hours.

[At_Peace_in_NorCal]

Thanks again freedomwon! Very helpful info.

OK, so now for the latest twist. Yesterday we received a letter from Aurora FSB, our servicer stating that they have transferred the servicing of our loan to Nationstar Mortgage LLC! UUUGGGHHH!!! They sold a loan in default??!! As of July 1 we can make our payments to the new servicer. We have no idea how this will impact the timing of our sale at this point. And of course we just signed a lease for a rental. Good grief. Now what?

[freedomwon]

Thanks again freedomwon! Very helpful info.

OK, so now for the latest twist. Yesterday we received a letter from Aurora FSB, our servicer stating that they have transferred the servicing of our loan to Nationstar Mortgage LLC! UUUGGGHHH!!! They sold a loan in default??!! As of July 1 we can make our payments to the new servicer. We have no idea how this will impact the timing of our sale at this point. And of course we just signed a lease for a rental. Good grief. Now what?

Since you've already made the decision to move to a new place & have no intention of doing things to delay the sale or prolong the process, I would move forward with your plans. The transfer of servicing may provide an additional delay to the foreclosure process but it's hard to really know. All depends on what Nationstar decides to do.

[Eltoro]

I am in the same boat with At_Peace. Regard to the mail box. Do I need to call the trustee to let them know my new P.O box? or the post office just put my mail in the mail box that I rented. Which mean the trustee will send mail to my current home address.
Thank you all.

[freedomwon]

I am in the same boat with At_Peace. Regard to the mail box. Do I need to call the trustee to let them know my new P.O box? or the post office just put my mail in the mail box that I rented. Which mean the trustee will send mail to my current home address.
Thank you all.

You will need to submit a change of address to the post office from your old address to your new P.O. Box. If you call the trustee with you new P.O. box, it may minimize the delay it takes for the post office to process your incoming mail.

[laurakrishna]

My apologies if I am in the wrong spot but I'm trying to find any posts related to walking away and cash for keys. My house went back to the bank on Wed. A man left a note for me yesterday Thurs. evening and told me to email another Realtor. I immediately emailed this realtor saying I was told to contact him by man at my door. He left me a voice message that night saying to call him so he could explain what would happen. I forgot to call today as I've had the flu severely for the last 4 days. When I got out of bed to check email this evening he wrote the C4K offer was expiring. We have a new place to go to on July 3. I am now afraid they will evict me before that. I did not mean to not call him back it is just that I have been so sick and forgot to charge my cell phone and therefore did not hear his call come through. I was looking forward to this whole mess being over and now he has me very worried. If anyone has any insight I am eternally grateful. This site has been a lifesaver for the past year while wading through this housing mess.

[freedomwon]

laurakrishna - Try contacting the agent today & see what he has to say. Let him speak first. See how much he's willing to offer you. Remember C4K's is negotiable, it's not set in stone. The sooner you can be out, the more you can probably get.