Just thought I'd show a timeline of my foreclosure process with AHMSI, because they did NOT drag their feet at all like you hear in the news. I had gotten a HAMP mod back in 1/2010 but payments went up $100...only good thing was frozen interest rate before it went sky high. After a nasty divorce leaving me with the full $1700 payment, and a 5 bed house for me and my twins, I decided to default. Here's how it went:
December 2010--first missed payment
January 2010--second missed payment, 70 point hit to credit score
February 2010--third missed payment, 10 point hit to credit score
March 2010--Notice of Default filed, 10 point hit to credit
June 2011--(exactly 90 days after NOD)--Notice of sale posted on my door with 3 weeks notice
June 28, 2011--auction...opening bid was $83,200 (I owed $298K), and it sold for $89K
June 29, 2011--3 day eviction notice posted on my door. Called # listed and inquired about Cash4Keys. They offered me $500 to get out in 30 days, and $1000 to be out in 14 days. I asked how much if I got out in a week and was told "I can probably get you $1500."
July 1, 2011--Moved out and house was "broom clean" (they aren't kidding, it doesn't have to be that clean)...did a quick walk through and was given a $1500 check.
End of story for me...just need that tax document and it's done and out of my hair.