3- months behind on mortgage, now...??

[Blue_Ray]

I am now three months behind on mortgage.

~ Now what steps are needed?

*1st mortgage sending me certified letters
*2nd mortgage having some collector (voice system) calling me from work.

I have yet to tell either banks that I am going to foreclose or is that what I m suppose to do?

All - I need some steps on what needs to be done @ this point.

I have plenty of moving boxes, but not paking anything UP yet. However I did unpack our Xmas tree. ;)

Thank you all for any help on what *NEEDS* to be done @ this point (3- months behind on 1st and 2nd mortgage).

-Ray

[BassBoy]

Enjoy the Holidays

You're are now considered to be in default and soon, then bank/lender will be filing a motion for foreclosure. As most of us have said, it depends on your state as to how long the foreclosure may take. I think you'll be fine for another couple of months, so go ahead and decorate the X-Mas tree.

[Blue_Ray]

Bassboy - Should I call either banks right now to let them know what my intentions are?

I did change my home number so maybe I can warm-call them and at least give them that and maybe they'll ask "Where the heck is our money" and I'll tell them.

Yes. I plan to put up the Angel on top of our Xmas tree, you know; To look upon us on these hard times.

[BassBoy]

Refresh my memory.....have you filed BK or will you be filing BK in the near furture?

[Blue_Ray]

Refresh my memory.....have you filed BK or will you be filing BK in the near furture?

Oh I did Chpt 7 back in Jan / 08 all done like in March / 08

[BassBoy]

Oh I did Chpt 7 back in Jan / 08 all done like in March / 08

I assume you included the mortgage and did not reaffirm. If so, I wouldn't go out of my way to tell the lender anything until you've left the home. Then you call and say you vacated the property. If you check your county Sheriff's site, you should be able to keep track of how things are moving along and you'll know your sale date. Once you know the sale date of the property, you can plan your move. I would suggest the latest you would want to stay is up to the sale date. Eviction timelines are hard to pinpoint as well, so you want to make sure you're not stuck with nowhere to go. I knew someone who wanted until the last minute to move out, and literally, the bank was coming to take possession (the eviction notice was already served) and he was moving the last of his things the weekend before. That's scary.

[Blue_Ray]

I assume you included the mortgage and did not reaffirm. If so, I wouldn't go out of my way to tell the lender anything until you've left the home. Then you call and say you vacated the property. If you check your county Sheriff's site, you should be able to keep track of how things are moving along and you'll know your sale date. Once you know the sale date of the property, you can plan your move. I would suggest the latest you would want to stay is up to the sale date. Eviction timelines are hard to pinpoint as well, so you want to make sure you're not stuck with nowhere to go. I knew someone who wanted until the last minute to move out, and literally, the bank was coming to take possession (the eviction notice was already served) and he was moving the last of his things the weekend before. That's scary.

BassBoy - Ok, I did not do a reaffirm on 1st mortgage, but did on the 2nd. Should I just call on the 2nd mortgage and tell them I am foreclosing?

Thanks for all your help.