My walk with AHMSI...

[JayBet98]

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.

[Cat Damiano]

JayBet98,

Wow, 6 months in CA from first missed payment, that is a tight time frame. Best of luck to you!

[JayBet98]

JayBet98,

Wow, 6 months in CA from first missed payment, that is a tight time frame. Best of luck to you!

I had 7 months "free rent" so I'm not complaining, but I was a little surprised at HOW quickly they acted considering what you hear on the news. Maybe it had something to do with the fact that I had been paying the HAMP modified payment for almost a year?

[mama392]

"June 28, 2011--auction...opening bid was $83,200 (I owed $298K), and it sold for $89K"

I noticed that your AHMSI note also sold for a lot less then what was owed on your property. Did the bank buy this back and did they come after you for defeicency judgement?

[JayBet98]

"June 28, 2011--auction...opening bid was $83,200 (I owed $298K), and it sold for $89K"

I noticed that your AHMSI note also sold for a lot less then what was owed on your property. Did the bank buy this back and did they come after you for defeicency judgement?

No, they auctioned it off to someone...I was home the day of the auction and several people came to my door to check and see if it was occupied (one was even on the phone with someone at the auction bidding). They have not come after me for deficiency, and my understanding is that once they foreclose and auction it off, they CAN'T come after you for it. I just need to get the tax document to file my taxes, which may be a fight, who knows. Before I left the area in November, I drove by and whoever bought it, did a little work on the yard and had it for sale for I think $129k.

[mama392]

No, they auctioned it off to someone...I was home the day of the auction and several people came to my door to check and see if it was occupied (one was even on the phone with someone at the auction bidding). They have not come after me for deficiency, and my understanding is that once they foreclose and auction it off, they CAN'T come after you for it. I just need to get the tax document to file my taxes, which may be a fight, who knows. Before I left the area in November, I drove by and whoever bought it, did a little work on the yard and had it for sale for I think $129k.

Thanks for the info. Mine was just auctioned off last week for far less than the note was for and I'm a little freeked out about it, not knowing what they are going to do. I was at work the day of the auction so not sure if anyone came to the house, but you can tell we do still live here. I had a realtor show up yesterday wanting us to now do a short sale during our 12 month redemption period. I'm not interested in that at all.
Thanks for your reply.