Why prolonged in NY???

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Hi all, I've been reading for some time and finally have the time to sit down and ask my question. What would be the cause of a HUGE delay in the final stage of foreclosure?

Our home went into default starting in 2007. We filed a Chapter 13 and kept up with it for almost two years when circumstances led us to having to give up and have it dismissed. We received the usual foreclosure letters, set to accelerate after the failed chapter 13. The loan was originally with Argent and backed up Deutsche. The 2nd loan was some other company, can't even remember now. They have been sold and transferred so many times, with the first mortgage winding up with AHMSI about two years ago. In June 2010 we received the notification that it was in the final step of foreclosure with a referee assigned to check the figures and set the sale date....19 months later we're still here with no sale date ever set. AHMSI sends us letters frequently telling us to apply for Hope Now (we don't qualify) and they have some "investigator" call several times per day from a company called HP Locate, which I do not answer.

I know my time is limited, but what could be the hold up?? I'm in Sullivan County, NY.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
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San Diego, California
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Welcome and thanks for joining the community.

Well being in a Chapter 13 will put foreclosure proceedings on hold until the bk is discharged or the automatic stay has been lifted.. But obviously this took place years ago and a foreclosure date should have been definitely set by now... It is common for a foreclosure to take up to 12 months or more especially with the amount of foreclosure going on in each state.. However, your case seems to be very rare and I'm honestly not sure why the foreclosure process has not resumed after such a long period of time..
 

chrissty

LoanSafe Member
Oct 17, 2010
125
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0
hey -- I live in new york and I am not an expert, but I can tell you that ny is a judicial state. The time frame for foreclosures is 3 - 4 years. it is one of the longest of the states -- I have a house down the block from me that stopped paying around the same time as you =--the foreclosure was recorded in august and now the house is up for sale. not sure why it takes so long, but it does --
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Now that you mention that Chrissty I do recall another member here from NY who has not made a payment in over two years and still no foreclosure date has been set..
 

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Thanks for the replies, I know NY takes a long time but what boggles my mind is that it went to the final stage of foreclosure, assigned to referee, and that was in June 2010! My BK lawyer had advised we start looking for a place then, but due to financial circumstances we decided to ride it out to the end. I'm glad we did because we're still here! I just wonder why it didn't get assigned a sale date back then. Perhaps AHMSI doesn't have the right to foreclose?
 

Pokadotsox

LoanSafe Member
Jan 9, 2012
45
2
8
Hi Hansorella,

I live in NY as well as have been considering going the forecosure route. Since your BK didnt go through, may I ask how you intend to safeguard yourself from a deficiency judgement? The only assets I have are investment properties and although some say the banks will never sue (and in NY they only have 90 days from the date of sale to file for a deficiency judgement) I'd be devistated if they siezed them, they are my retirement plan so to speak.
 

acesfull

LoanSafe Member
Nov 5, 2008
2,216
110
63
NEW JERSEY
Hi Hansorella

I have a theory on the delay of your foreclosure. I believe the owner of the mortgage AHMSI or DEutsche bank or whatever trust name is attached, Must bring a foreclosure complaint via the State court. I believe even tho you filed the BK that whatever entity is claiming ownership must proceed thru the state court system and I believe that Neither of the entities AHMSI, Deutsche, or the name of the trust, have proper STANDING to bring the foreclosure in the state court. They don't have there ducks in order.
I personally would not contact AHMSI nor apply for any mods. I would wait it out and force them to file the foreclosure in state court.
Hang in there.

Best regards
Nj-15 Months
Acesfull/HWP
 

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Hi Hansorella,

I live in NY as well as have been considering going the forecosure route. Since your BK didnt go through, may I ask how you intend to safeguard yourself from a deficiency judgement? The only assets I have are investment properties and although some say the banks will never sue (and in NY they only have 90 days from the date of sale to file for a deficiency judgement) I'd be devistated if they siezed them, they are my retirement plan so to speak.
Our attorney advised us to wait it out and then file a Chapter 7 after the foreclosure. We've been waiting it out for 2 years now since the foreclosure was started back up. We have no assets at all to worry about, you can't get water from a stone!
 

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Acesfull, I was thinking along the same lines. The loan was transferred so many times over the six short years I'm not sure what is what with all of it. So what you are essentially saying is that they'd have to file with the state court as opposed to county court? It's so strange that it all came to a halt without any notice to us. All along we were receiving letters from the courthouse, each step telling us what was happening next. We didn't bother to show at the hearing, we don't have a leg to stand on , so the foreclosure proceeded. Like I said, last notice we got was assignment of referee. From that point you usually have at least a month, the notice has to be published in the newspaper for four consecutive weeks telling the sale date and where. It never happened. I am not in any way able to move out right now, it's unaffordable, so I'm not complaining. Just biding my time!

Hi Hansorella

I have a theory on the delay of your foreclosure. I believe the owner of the mortgage AHMSI or DEutsche bank or whatever trust name is attached, Must bring a foreclosure complaint via the State court. I believe even tho you filed the BK that whatever entity is claiming ownership must proceed thru the state court system and I believe that Neither of the entities AHMSI, Deutsche, or the name of the trust, have proper STANDING to bring the foreclosure in the state court. They don't have there ducks in order.
I personally would not contact AHMSI nor apply for any mods. I would wait it out and force them to file the foreclosure in state court.
Hang in there.

Best regards
Nj-15 Months
Acesfull/HWP
 

acesfull

LoanSafe Member
Nov 5, 2008
2,216
110
63
NEW JERSEY
Hi Hansorella

Do not miss any court dates. Failure to appear or respond is an admission of guilt( defend your position at all cost.)

Object to all claims but neglect to NONE..

Best regards
N j-15 Months
Acesfull/HWP
 

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Hi Hansorella

Do not miss any court dates. Failure to appear or respond is an admission of guilt( defend your position at all cost.)

Object to all claims but neglect to NONE..

Best regards
N j-15 Months
Acesfull/HWP
Too late for that!! Now it's just wait and see. Maybe I'll set a new record!
 

Kenupstate

LoanSafe Member
Dec 11, 2012
209
1
0
I am in NY state and suggest you do a search for bank walkaways,I have discovered several instances where banks have started foreclosures then walked away and filed a notice to release lis pendens meaning they are canceling the foreclosure action.You can go to the county clerks office and look up your name and see the lis pendens that was filed and see if a cancellation of the lis pendens was filed.I believe the lis pendens is only good for 3 years but not positive.Check and see if your taxes are still being paid and your insurance policy also.I have found many instances where the bank walked away nd it has been years already,and yes these are houses I know about and know the owners didn't reinstate the loan,I am a landlord and 1 owner gave me a house earlier this week with a large mortgage attached that Wells Fargo walked away from,I will collect rent and eventually sue Wells Fargo for a quiet title action to attempt to have the mortgage removed
 

Hansorella

LoanSafe Member
Jan 16, 2012
6
0
0
Hi, the bank is still paying taxes and insurance and we are still in the house! Haven't heard a word in over two years, can't figure it out.
 

car67

LoanSafe Member
Jan 25, 2010
127
0
0
Same here

Hi, the bank is still paying taxes and insurance and we are still in the house! Haven't heard a word in over two years, can't figure it out.
2 years 8 attempted mods not in foreclosure they still pay taxes and insurance not sure why either modify or foreclose!
 

Dog-tired in NJ

LoanSafe Member
Jul 11, 2013
3
0
1
This is my first posting. Have not made a payment on our primary home in New Jersey since 2009. Appled for a Hamp in Fall of 2012 and was denied a year later. Wells Fargo then sent us a letter that there were no other options for us so they will start foreclosure proceedings. Have not heard a word from them. We are in default ($200,000). House is not worth anything close to what we paid in 2006.
Wondering if their ducks are not in a row and will not foreclose????
 

LovingOcwen

LoanSafe Member
Nov 16, 2013
283
6
18
St. Albans New York
This is my first posting. Have not made a payment on our primary home in New Jersey since 2009. Appled for a Hamp in Fall of 2012 and was denied a year later. Wells Fargo then sent us a letter that there were no other options for us so they will start foreclosure proceedings. Have not heard a word from them. We are in default ($200,000). House is not worth anything close to what we paid in 2006.
Wondering if their ducks are not in a row and will not foreclose????
Hi Dog tired in NJ,

What was the reason for your denial?
 

acesfull

LoanSafe Member
Nov 5, 2008
2,216
110
63
NEW JERSEY
Hi Folks

This is simple.. If you have not heard from your mortgage company or your servicer in over two years and the taxes are still being paid..
Simply leave them alone.. Do not attempt to contact them, what would be the point.. If your file is buried at the bottom of a large stack of other files, then hey, keep it buried.. They will get to you eventually, why speed up the pace.. LOL
Best regards

Nj-46 Months
Acesfull/HWP
 

LovingOcwen

LoanSafe Member
Nov 16, 2013
283
6
18
St. Albans New York
Hi Folks

This is simple.. If you have not heard from your mortgage company or your servicer in over two years and the taxes are still being paid..
Simply leave them alone.. Do not attempt to contact them, what would be the point.. If your file is buried at the bottom of a large stack of other files, then hey, keep it buried.. They will get to you eventually, why speed up the pace.. LOL
Best regards

Nj-46 Months
Acesfull/HWP
Acesfull,

The banks are well aware that NYC will take your house in a minute for not paying taxes and enter in into the NYC tax lien sale. It's cheaper for a bank to pay taxes, rather allow NYC to place in in a lien. The same goes for the water and sewer charges.