FC Auction Adjournment

[ozeyeruz]

Hey Guys,

Just wanted to ask how I go about with using my 2x Auction Adjournments? Is there a form I fill out? do I call the County Sheriffs office?. My Sale date is set for end of May. Just trying to buy a little more tim eto look for a rental and possible be out by end of August. Lastly, I see a slew of Plaintiff ajournments on the Sheriff Office website on most homes, some eventually being bought back by the bank while others get ajourned for almost even about 1 year?. Is this on purpose by the banks? Are the homeowners doing some last minute plays?. Thanks all.

Oz

 

[Evan Bedard]

Hello Oz,

What state you are you located in? There are quite a few ways you can drag out the foreclosure process to help buy you some more time in the property. Have you recently applied for a loan modification?

 

[ozeyeruz]

Hey Evan,

I am in NJ, Essex county to be specific. I spoke with the servicer and they stated that I am no longer eligible for modification, I am however eligible for Mortgage release (Deed-for-Lease) in which I have to submit a set of financials like that of a loan Mod (paystubs, bank statements, request for IRS tax returns 2012,2013). Although they would not give me an upfront price of how much the Lease would be (and its only for a year), they expressed to me that it would be around market rates for my area? (Zillow Market rates?). I am a bit skeptical in submitting the required docs as I feel they can just turn around, deny me the Lease and now they have the Deed and do not have to go through auction etc. and I am out of the house sooner rather than later. Thanks again for the reply.

Oz

 

[LovingOcwen]

Hey Evan,

I am in NJ, Essex county to be specific. I spoke with the servicer and they stated that I am no longer eligible for modification, I am however eligible for Mortgage release (Deed-for-Lease) in which I have to submit a set of financials like that of a loan Mod (paystubs, bank statements, request for IRS tax returns 2012,2013). Although they would not give me an upfront price of how much the Lease would be (and its only for a year), they expressed to me that it would be around market rates for my area? (Zillow Market rates?). I am a bit skeptical in submitting the required docs as I feel they can just turn around, deny me the Lease and now they have the Deed and do not have to go through auction etc. and I am out of the house sooner rather than later. Thanks again for the reply.

Ray

Hi Ray,

What did they mean when they stated that you are no longer eligible for a mod? What was the reason? The banks will tell you anything. If you submit the documents, I would submit it with a loan modification packet. They cannot go on with foreclosure as long as you submit a completed mod package, until they deny you with a legitamate reason for denial, in writing. Sounds like they are trying to get you to do a deed in lieu.

http://en.wikipedia.org/wiki/Deed_in_lieu_of_foreclosure

I guarantee they will not let you stay! What advantage would they have to foreclose on you and then lease the property out to you? Maybe I am wrong, but it doesn't sound right to me.

 

[ozeyeruz]

Hey Loving,

I recently spoke with my servicer about two weeks ago asking about the Streamline Refinance through Fannie, they said they would get back to me and finally did about 3-4 dyas ago. They stated that because of all the added cost of foreclosure, unpaid mortgage etc. my original loan balance of $320K now is about $390K and would be too much. I even recieved an alert that they ran a Hard Inquiry on my credit which
I didnt know they could do without my written consent?. I just asked if I am eligible for a streamline refinance and they said they will see.

I honestly dont trust my servicer any longer as I feel they are (and have been) taking me around in circles. Back in 2009 when I first asked for help, and applied for Modification, I recieved the trial payment offer which was great but after 6 months of paying, 2 rounds of financials being sent in and no confirmation within sight they asked me again for a 3rd round of financials!. Thats when I had it and filed for BK13.

I will send in this last set of financials incomplete, Im going to try and give them the run around and see if I cant buy myself a little more time. Then they also actually wanted me to dispute my credit report showing my mortgage was discharged through BK 7 (converted last year) so it will show a foreclosure. I feel my servicer is a real Douche-bag type of person, and they are making some pretty good profit from all this.
Thanks anyways guys.

Oz

 

[ozeyeruz]

Hey Guys,

Just back to what I originally had asked. How do I go about asking for an adjournment?. My guess is to call me county sherrifs office or do I need some type of paperwork?. Thank you.

Oz