5 months of no mortgage payments and no notice of default?

[technoreid1]

We are in California and they usually follow non-judicial foreclosure practices which allows the homeowner to stay in his or her property 115 days after the notice of default is filed.

We are behind 5 months in mortgage payments and we have not yet received a notice of default?

Is this normal for the mortgage company to take this long?

thanks, techno

[Beach Bum]

In these crazy times with record amounts of homes going into default and foreclosure I'm sure they are swamped and literally don't have enough staff in those departments to keep up.
We're at almost 5 months too, have yet to receive a NOD.

[BassBoy]

I would have to agree that there may be an overload of homeowners falling behind.

[BKOnce]

Enjoy your FREE roller coaster ride as long as you could..

[BKcrazy]

I'm sure they are really busy. The phone calls I thought I was going to receive when the first month I was late.....Didn't happen. I'm certainly not complaining, but I thought it was amusing that they called less and less. I wasn't answering the phone anyway. They called about the same time though. I filed Nov 2, and I beat them starting foreclosure on me. Thouhg, I've gotten a letter that stated their lawyers are starting the process. So, I actually called to tell them I filed.

My mom also said that most mortgage companies are really busy right now. So, right now slipping through the cracks sounds good huh?

[technoreid1]

yea - maybe they forgot about us! Maybe our file just fell behind a desk somewhere!

they dont even call here anymore!

but I am sure we will get the NOD anyday now..... been 5 months already and they have not filed it....(i am not complaining)


thanks, techno

I'm sure they are really busy. The phone calls I thought I was going to receive when the first month I was late.....Didn't happen. I'm certainly not complaining, but I thought it was amusing that they called less and less. I wasn't answering the phone anyway. They called about the same time though. I filed Nov 2, and I beat them starting foreclosure on me. Thouhg, I've gotten a letter that stated their lawyers are starting the process. So, I actually called to tell them I filed.

My mom also said that most mortgage companies are really busy right now. So, right now slipping through the cracks sounds good huh?

[technoreid1]

We have been but it's time for us to move on and rent somewhere....

Sitting here just knowing we are going to lose the our house is horrible. it's already been 5 months! and no notice of default!

I personnaly would love to stay here 3-4 more months and save money but the wife "wants to move on and get settled" if you know what I mean....

what do you think?


techno

Enjoy your FREE roller coaster ride as long as you could..

[technoreid1]

I hope so! And I hope they lost our file!

techno

I would have to agree that there may be an overload of homeowners falling behind.

[technoreid1]

Are you going to move out soon? We are looking for a place or do you have another place to live?.... I want to stay here until the end but my wife wants to move on and get settled.....

Isn't it weird just sitting in your home waiting for the inevietable? We went on 5 months as of November 1st.

6 months will start Dec 1st. I know for certain we can stay here at least 3-4 more months.... You too!


techno

In these crazy times with record amounts of homes going into default and foreclosure I'm sure they are swamped and literally don't have enough staff in those departments to keep up.
We're at almost 5 months too, have yet to receive a NOD.

[BassBoy]

We are looking for a place or do you have another place to live?.... I want to stay here until the end but my wife wants to move on and get settled.....
techno

Moving on is surely understandable. We wanted to get on with our lives and put the BK behind us as quickly as possible. We got out of our house just after our discharge (got lucky and found a homeowner that didn't check credit or require a large deposit) and we are happy we did it when we did. We put the BK behind us as of that day and never looked back. What a great feeling is was to do that.

[Lesa13]

I have been in your exact situation. I am in Missouri. I stopped paying on my mortgage in April 2006. MY HOME HAS STILL NOT BEEN FORECLOSED ON! I moved out and rented and have been on a real rollercoaster since then. I would have saved a LOT of money if I had known they would take their time foreclosing.

I finally got a notice of default on November 7. BUT no notice of sale yet, so not sure when/if that will happen.

You can definitely take a chance if you are brave sorts - my understanding is that with the amount of foreclosures going on, mortgage companies are moving v-e-r-y slowly to actually take homes away - they have so many they can't sell already.

HTH.

Lesa
Missouri

[Westlane]

...going on 1 year on florida house. had home in michigan foreclose in 6 months but they have 6 more months redemption period.

[technoreid1]

Looking back would have you stayed in your home any longer so you could save some more? When did you move out?

Did you feel you just have to move on? It is so nerveracking sitting in your own home, a home you know you are going to lose - did you feel the same way???? It's like we are worried to even answer the door expecting it to be either our mortgage company, credit card suit, or whatever....

We have 5 pets too so it's been hard to find a rental.... (infact we just found one today!)


techno

I have been in your exact situation. I am in Missouri. I stopped paying on my mortgage in April 2006. MY HOME HAS STILL NOT BEEN FORECLOSED ON! I moved out and rented and have been on a real rollercoaster since then. I would have saved a LOT of money if I had known they would take their time foreclosing.

I finally got a notice of default on November 7. BUT no notice of sale yet, so not sure when/if that will happen.

You can definitely take a chance if you are brave sorts - my understanding is that with the amount of foreclosures going on, mortgage companies are moving v-e-r-y slowly to actually take homes away - they have so many they can't sell already.

HTH.

Lesa
Missouri

[technoreid1]

How long did you stay in your home without a mortgage payment?
Did you at anytime feel as if you had to "move on".....

We have not filed our BK yet because we were told we could have an easier time renting without the BK on our record.....

We just found a rental home today!!!!! With a low deposit and no credit check. I think they trust us which is great that there are people stilll left in the world like this!!! We have 5 animals and I have been looking for a rentall home for 3-4 weeks FULL-TIME and it has bee tough to say the least.....

We have been told to file our BK after we move in to our rental - though it could work either way I think?

Thanks, techno

Moving on is surely understandable. We wanted to get on with our lives and put the BK behind us as quickly as possible. We got out of our house just after our discharge (got lucky and found a homeowner that didn't check credit or require a large deposit) and we are happy we did it when we did. We put the BK behind us as of that day and never looked back. What a great feeling is was to do that.

[Lesa13]

I felt, as most people do - okay I don't make a mortgage payment, the lender is going to come take the house. My atty told me after I had not paid for 3 months (which I consciously did - stopped paying that is), that I would have "no more than 90 days" before they'd come take the house. So my last payment was in April 2006 and I was out of the house by 7/1/06.

I also rented the next place, and like you, I have multiple animals - so it was very difficult to find a place to rent that would accept them. At the time, I was on very bad terms with my family as well, so could not go to them for any type of financial (or emotional) assistance. I certainly understand your feeling of not knowing what's going to happen with your house and being a nervous wreck.

On the other hand, unless I am completely misunderstanding how foreclosure works - you get your "notice of default" with a date to pay and then have some time (maybe 60 days or so?) before you HAVE to get out. I don't know what type of real estate market you are in - I was concerned that I'd be told to get out before I could find a place that would rent to me and that would work for me.

I lived in that expensive tiny place from July 2006 until May 2006 when I got back on good terms with my folks. They are now renting a house to me owned by their company, which works well for me as it is an affordable rent and when something goes wrong (ie, oven stops working, no hot water for months at a time), they actually FIX IT - which was an issue at the first house.

So I completely understand your confusion Techno, and, to be honest, depending on how much of a risk taker you guys are - I would think you are doing the right thing. You have a rental place NOW that you think will work, that you can get into and credit/BK is not an issue. It would be sad if you let it go and then got to the point where you had to move and then you couldn't find anything. A bird in the hand, right?

I think it's unusual that I have not paid anything to the mortgage company since April 2006 and the house still shows as mine BUT even knowing what I know now, I don't think I'd be comfortable enough to have stayed in the house, not paying the mortgage and taking that chance. But throughout this BK, nothing has surprised me. Things just never go the way you think they will. I laugh when I have friends who tell me "oh I missed a mortgage payment, I am afraid I will get foreclosed on!"

Good luck to you. Sounds like you all have your ducks in a row. Things will get better for you.