Moratorium ?

[knightsbranch]

Does anyone know about a moratorium on foreclosures in Ca ? A friend of mine told me that we would get a 90 day (3 month) moratorium after the 90 days had elapsed from the nod filing. The nod was filed on 8/18/09 so our 90 is just about up today !! My first is with bofa, 2nd (heloc) with wf. I'm filing a 13 with my attorney but may not be ready for a few weeks. Hoping to strip the second and then modify the first when we get into the program.
Thanks for any input guys.

[Lajazz947]

Does anyone know about a moratorium on foreclosures in Ca ? A friend of mine told me that we would get a 90 day (3 month) moratorium after the 90 days had elapsed from the nod filing. The nod was filed on 8/18/09 so our 90 is just about up today !! My first is with bofa, 2nd (heloc) with wf. I'm filing a 13 with my attorney but may not be ready for a few weeks. Hoping to strip the second and then modify the first when we get into the program.
Thanks for any input guys.

I myself am a bit confused about the status of the moratorium and tomorrow I am going to ask one of my business partners who is a very knowledgable construction lender how he sees this.

I'll post back tomorrow.

In the meantime here is a link regarding the moratorium:

http://www.thetruthaboutmortgage.com/california-foreclosure-moratorium-takes-effect/