Notice of default

[Dormar]

I live in Las Vegas, NV. My house (primary residence) is 150K below market and I stopped payments10 months ago. I have loan with Green Tree Servicing, no mortgage insurance. I received yesterday Notice of default. I didn't try short sale the house so far. Does anybody have experience with GTS or can give me some ideas what I can do to stop foreclosure or at least move it for couple more months later.
Thank you.

[Evan Bedard]

Welcome and thanks for joining the community Dormar.

Even though you just officially received the NOD it could still easily be another 3+ months before a foreclosure date is set. There are quite a few different things you can do to help prolong the foreclosure process including, but no limited to having a loan modification or short sale in process. Here check out the first posts in the "Hampster Wheel" thread below as it lists great strategies to help prolong foreclosure and we have thousands of members here like yourself in the same position, especially in hard hit Las Vegas..

http://www.loansafe.org/forum/chase-...heel-game.html

[Dormar]

Welcome and thanks for joining the community Dormar.

Even though you just officially received the NOD it could still easily be another 3+ months before a foreclosure date is set. There are quite a few different things you can do to help prolong the foreclosure process including, but no limited to having a loan modification or short sale in process. Here check out the first posts in the "Hampster Wheel" thread below as it lists great strategies to help prolong foreclosure and we have thousands of members here like yourself in the same position, especially in hard hit Las Vegas..

http://www.loansafe.org/forum/chase-...heel-game.html

Thank you for the link, I will read the post.

[UNDERinLV]

I also live in LV and I think that the bank now has to go through a mediation process prior to foreclosure. You could prolong it by going along with the mediation and dragging out that process...I think it is optional and since I want this to FC by the end of the year, I plan to waive the mediation. I am now 12 months behind with no NOD...things seem to be moving very slowly lately...

[Evan Bedard]

I also live in LV and I think that the bank now has to go through a mediation process prior to foreclosure. You could prolong it by going along with the mediation and dragging out that process...I think it is optional and since I want this to FC by the end of the year, I plan to waive the mediation. I am now 12 months behind with no NOD...things seem to be moving very slowly lately...

Thanks for sharing, that is very true you can go through mediation and it can easily help prolong the foreclosure process an additional 3-6 months..