Auction sale 1/30/07

[MER]

To make a long story short, my home is in the process of being sold for auction on 1/30/07. I tried and tried working with the Lender to no avail. Was even denied for Loss Mitigation, b/c they claim they couldn't get a hold of me. They have my cell phone number and I never rec'd a call nor was there ever a vm left. I have resigned myself to this sale and would like to know if I can move out before the sale. I found an apartment for my family and was very honest with the landlady, because I didn't want to omit or lie to anyone regarding my situation. She is willing to rent to me, but she is afraid that my situation will affect her in any way. I would love to reassure her, but my problem with staying at my property is that there is no heat.. Winter is here and I really don't want to live here any longer. We aren't technically abandoning the property since my husband will be going back and forth. When is it a good time to move out? Any advice..

[poorme]

The foreclosure is against YOU, not the new landlady. Hopefully, you can reassure her that all will be well. Otherwise, move out of that icebox as soon as you can. Did you file bk? If so, did you use an attorney? If you did, would he/she be willing to talk to your landlady and let her know she's not part of the foreclosure in any way and has no repercussions to worry about other than you paying your rent?

[MER]

I haven't filed for bk yet. I am looking into it though. I am current on my car note and my cc. I don't want to loose the car, and since my cc is current, I have been using it so not sure if the 90-day doesn't apply. I rec'd this cc from my credit union and the payments are taken out of my paycheck, as well as my car note . can I still file bk? Or do I have reaffirm them.. I really don't know how the process works. I know I am asking to many questions, (and sounding clueless) but can I speed up the pre-filing counseling? Since the sale is for 1/30, around the corner.

[pambysue]

Hello Mer. I too am in the foreclosure process. There is no sale date on my house yet. I am in NY state and I have heard it can be a long process! anyway, I moved into a duplex with my 12 yr old daughter in November as my attorney said it was fine because I planned to surrender the house anyway, but I have been going to the house & moving things out little by little. My heat was shut off there last week as I cannot afford to pay for 2 residences and I have been concerned about pipes freezing, so I went there the other day & turned the water off & drained the water from the pipes as best I could. I am filing BK the beginning of next month because I am afraid of a deficiency with my mortgage due to the fact of being financed at 125% of the value of the home. there was NO way I could sell for what I owed. Then, my overtime at work went down, so the best I could do was cut ties with the house & move. Hopefully, the bankruptcy will take care of everything.
As for your situation, I would definitely move out. Poorme is correct. Your foreclosure doesn't affect your landlady.
The only time a BK would affect her is if you were including back rent (which you aren't). You can reaffirm your car loan. You will just have to make sure all your payments are made on time, otherwise they will take the car. I am not too sure on the cc issue as I haven't used cc's for a LONG time. I think there may be a 70/90 day time period for credit/cash advance uses.
You're best bet is to speak with an attorney or two and get their advice.
Good luck to you!! We have all been there..and some of us are STILL there..LOL!!

[lrprn]

To make a long story short, my home is in the process of being sold for auction on 1/30/07.

Sorry you are having to do through this, mer.

Just wondering....if you got to do what you wanted, would you want to keep your house?

[bige1030]

I wonder if the landlady is afraid of you filing for bankruptcy. You do have the option of rejecting your lease in bankruptcy, so you'll want to reassure her that you intend to keep the lease through the full term. Do you have a financial statement showing how you'll pay the rent? If so, that could go a long way.

[SinkingFast]

What State is the property located in, Mer??!!

HHM has commented on several occassions that Lenders cannot seek a deficiency judgement against borrowers on the primary mortgage in many States.

That may be the case in your State. If you're able to convey that information to your new Landlady, maybe that will calm her nerves somewhat.

Could be she is afraid that with you in Foreclosure, BK is coming and she does not wanna get caught as Bige suggested. If Landlady knows the Lender cannot come after you for a deficiency balance, then maybe she won't worry about a pending BK.

Of course, she could just be a snob and think her property is too good for you. If that's the case, better to learn that now and find a different place to live than down the road and have problems.

[MER]

I just want to thank all of you guys for your input and support, in this most difficult time. I sense that she is having second thoughts. She basically left me a vm stating that she is afraid that with the foreclosure they will try to garnish my wages. But with BK, if I go thru with it, doesn't that stop that?? I live in Massachusetts, and I have no idea if they can go for the balance.. I just wasn't sure which is the best benefit for me: Filing BK before foreclosure or after? Or am I too late? It really sucks to be so unschooled with the process.. I told the lady basically that I really don't want to brden her with my troubles, and God will help open a window or a door:-) Hopefully a house I cannot afford to file with a lawyer since I am saving for an apartment.. So I would love advice from someone who has done it Por Se..

To answer Irprn, if I could save the house, I would probably keep it. But on the other side the house needs a lot of work that I cannot afford.. So it is better off sold.

The landlady advised me personally to file for BK so I don't think that is what's bothering her..

[pambysue]

I am so sorry for your hard times, Mer. I know exactly what you are going through! I wanted to keep my home, originally..but, then i knew I was beating a dead horse. I owe more than its worth and it needs so much tender love & care that I just couldnt afford after paying the bills just to keep it. So, I decided to move out. The people I rent from are a realty corporation (family owned) and they run background checks on potential, new tenants. They didnt hesitate to rent to me and since I have been in (moved in November), they really have made it clear how much they love having me and my daughter living here. I think the fact that I have a good job that I have been at for a long time means something. Everyone suffers hardships sometime in life and deserve a second chance.
I haven't filed my BK yet as I am still paying the fees. My lawyer said that even if the foreclosure went through before I filed (doubtful), the BK would take care of any deficiency owed. So, whether you file now or in a couple months, it will all be included if they try to sue you for any deficiency. Once it is all over with, you will feel 100% better. I know I will!!

[onlineuse]

MA is a state where they will come after you for the short balance. They will also win so you will need to file unless you have another solution. It's probably smart to do it sooner rather than later. If you don't file, they can probably do some of the things the landlady said.
She wants you to file because she knows at that point you are safe from wage garnishments etc. I can't blame her.

The bank will not go away quietly. I'm in MA, they will sue you as soon as they can.