How long were you able to stay?

[Clabbergirl]

I'm currently living in a home I stopped making payments on in May 2010. The sheriff's sale is scheduled for 2 days from now - 2/24/11 - and I'm heading out the door after I type this to pay the last of my legal fees to my lawyer so he can file Chapter 7 for me this morning. He said I may a delay of 45 - 60 days here in TN, it really depends on the mortgage and how fast they move (Suntrust Mortgage in my case). He said the mortgage side moves slower than the bank side usually, but you never know. My fingers are crossed that this gets me until the end of June. It's a long shot, I know. But I'm like you, tobee, Suntrust can have it. It's a 10 year old house and needs work (foundation issues!). I haven't been able to save up much money staying there though because nearly all my income has gone to utilities, transportation, and food. We'll be moving into a family member's basement after the sheriff finally evicts us, and I hope to save some then even though I will pay a little to the family member for rent. It is still an overwhelming sense of relief to know this is about to end.

[tobee43]

I plan on staying as long as I can. Just received notice from attorney that sheriff's sale is 'pending' the day before I saw the lawyer I finally picked, so with the bk I assume it will be another 6 months at least, time for me to save and get ready to move on. That will also give me time to have as many garage sales as it takes to get rid of the things I don't plan on keeping. I sure won't need the tools I have in an apartment and the other things you accumulate when you are in a house and have room.

perfect...should put an "auto" stay on the sale!!

[helpme2010]

Homes are more like prison cells these days, aren't they?

I am impressed by your calm after living in the same home for 20 years, things will get better.

I learned so many lessons from this, about banks (crooks that they are), people (how they lie and cheat more than I previously thought), and life (how nobody cares, except for family and maybe a few close friends and Internet forurms) .

The future looks so bright because I will not make the same mistakes again.

espo, i agree with your points here. Regarding mistakes, I honestly can't think of many I made. My real trouble was being out of work. I did make the gamble to go back to school and complete my degree and that helped push me into bk. But I would have eventually fallen down this path anyways.

My real trouble is not being able to find a job or when I get a job, to keep a job. I have a strong track record in creating results for the companies I work for, going above and beyond my job description. It doesn't matter when my company is purchased by another company or when the company I work for is trying to cut costs.

I can hardly wait until things get better or at least back to normal again. Thanks for your kind words.

[espo1357]

Good point. I live in Southern California, so a car is a must. There is no way to use public transportation from where I live or want to live to where the jobs are. And my job situation is always unstable, so I can end up taking one job that is literally 30 miles away from the other job.

The only good thing about losing my house in bk will be that I can at least move closer to the jobs and my family and rent a place that will cut my drive down by half. So this was one of the things that helped me stay positive when I knew I would be losing my home of 20 years.

It just seems like every month I am finding myself settling for less and less in life. Eventually I can see myself living in the gutter thinking, well at least I am not selling my body parts to survive. Then the next month, well at least I still have my brain, liver, and heart.

Homes are more like prison cells these days, aren't they?

I am impressed by your calm after living in the same home for 20 years, things will get better.

I learned so many lessons from this, about banks (crooks that they are), people (how they lie and cheat more than I previously thought), and life (how nobody cares, except for family and maybe a few close friends and Internet forurms) .

The future looks so bright because I will not make the same mistakes again.

[discouraged]

I plan on staying as long as I can. Just received notice from attorney that sheriff's sale is 'pending' the day before I saw the lawyer I finally picked, so with the bk I assume it will be another 6 months at least, time for me to save and get ready to move on. That will also give me time to have as many garage sales as it takes to get rid of the things I don't plan on keeping. I sure won't need the tools I have in an apartment and the other things you accumulate when you are in a house and have room.

[tobee43]

its definitely random.
Most people are getting 6 months to 2+years.

If you are in a bad long term situation, it is smart to walk.

Feel the pain now, and then reap the benefits later (by saving with rent or buying back into a cheaper market).

I am in a 13 now, so I expect it will take them at least 6 months to kick me out. I am going to work with them on getting a lower interest rate or principal reduction, so maybe I can keep the home.

Regardless, the ball in in my court because the BK gives me all the protection!

I will say that if you are strapped for cash, that it is much better to walk now than later.

Isn't it better to have cash and live in a small apartment, then to live in a beatiful home (that you don't own) and have no cash?

It is not good to be optimistic when making financial decisions!

i agree.. one needs to make a "sound" business decision whether it hurts or not....we needed to leave...it was the best thing we ever did...

but for some it's a good way to save money to make the move. we did stay long enough to save enough for the move tho...had we walked sooner we would not have had the money...so it was like a chess game really...every move slow and methodical, however, we were a no asset 7 and not a 13....we had nothing left after living in our home for 33 years...and chase can keep it!

[tobee43]

Thank-you I hope so too ...My husband just lost his job in January. Trying to save as much as possible to rent a new place. Half packed and waiting....

well you'll know at least for certain that in florida they have to go through the process....via the court...unlike calif. and i'm so hoping for you they will take time...and i think they will since look at ALL this inventory...it's nuts here..isn't it!

[helpme2010]

You also have to factor gas prices.

If having a car was an option, then the best bet is no car and use the public transit.

Good point. I live in Southern California, so a car is a must. There is no way to use public transportation from where I live or want to live to where the jobs are. And my job situation is always unstable, so I can end up taking one job that is literally 30 miles away from the other job.

The only good thing about losing my house in bk will be that I can at least move closer to the jobs and my family and rent a place that will cut my drive down by half. So this was one of the things that helped me stay positive when I knew I would be losing my home of 20 years.

It just seems like every month I am finding myself settling for less and less in life. Eventually I can see myself living in the gutter thinking, well at least I am not selling my body parts to survive. Then the next month, well at least I still have my brain, liver, and heart.

[espo1357]

In some areas, the amount you will pay for rent may be similar to the amount you pay for the home mortgage. I will likely pay a little less for my mortgage if I can get a loan mod too. For me it's really about how close you are to L.A. The farther out you are from where the jobs are, the cheaper the rent gets, but so too does the drive. e.g. I can easily have a 2 hour commute each way during regular business hours trying to get to jobs from my house. I have always worked a flexible commute structure with companies to help ease this down to an average 1 hour each way commute (even less when I come in really early and there are no accidents).

So I plan to move closer to where the jobs are, but still within some type of affordability range. So my rent may be close to my mortgage, but at least I will be a lot closer to the jobs and this also should look good to employers.

You also have to factor gas prices.

If having a car was an option, then the best bet is no car and use the public transit.

[helpme2010]

In some areas, the amount you will pay for rent may be similar to the amount you pay for the home mortgage. I will likely pay a little less for my mortgage if I can get a loan mod too. For me it's really about how close you are to L.A. The farther out you are from where the jobs are, the cheaper the rent gets, but so too does the drive. e.g. I can easily have a 2 hour commute each way during regular business hours trying to get to jobs from my house. I have always worked a flexible commute structure with companies to help ease this down to an average 1 hour each way commute (even less when I come in really early and there are no accidents).

So I plan to move closer to where the jobs are, but still within some type of affordability range. So my rent may be close to my mortgage, but at least I will be a lot closer to the jobs and this also should look good to employers.

[espo1357]

yes, i'm in florida now..and i know the people across the way have been there for 2 years!!! i hope the same for you....

its definitely random.
Most people are getting 6 months to 2+years.

If you are in a bad long term situation, it is smart to walk.

Feel the pain now, and then reap the benefits later (by saving with rent or buying back into a cheaper market).

I am in a 13 now, so I expect it will take them at least 6 months to kick me out. I am going to work with them on getting a lower interest rate or principal reduction, so maybe I can keep the home.

Regardless, the ball in in my court because the BK gives me all the protection!

I will say that if you are strapped for cash, that it is much better to walk now than later.

Isn't it better to have cash and live in a small apartment, then to live in a beatiful home (that you don't own) and have no cash?

It is not good to be optimistic when making financial decisions!

[Cherinfo]

yes, i'm in florida now..and i know the people across the way have been there for 2 years!!! i hope the same for you....

Thank-you I hope so too ...My husband just lost his job in January. Trying to save as much as possible to rent a new place. Half packed and waiting....

[tobee43]

I'm in Florida and still in the house. Stopped paying May 2010, Filed ch 7 Sept 2010 Stay lifted early Dec.2010, Discharged late Dec 2010. I have not heard or received anything since. I have been checking court dockets for MSJ , Nothing yet. I never answered any complaints with bank or the courts to delay the foreclosure. Still waiting.

yes, i'm in florida now..and i know the people across the way have been there for 2 years!!! i hope the same for you....

[tobee43]

It's weird and it's random. I am about to follow up with mortgage company to see if they received my loan mod paperwork. Then I will attempt another forbearance plan and hope it goes through. I need some more time here if possible before relocating. And we don't need to bring up the job market and why I need more time or do we?????

helpme...we were right in the middle of our loan mod when i got the foreclosure summons...but never go the notice for the sheriff's sale.....we could have fought it, but didn't since we knew we were leaving.

california is primarily non-Judicial state.. so you really don't have even a judge to beg for a few more months.....other states that are Judicial states...the person being served or thrown out can go in front of a judge and beg not be be thrown out...which nowadays they are not as likely to put people out in the street as quickly...as the old days and it usually buys people some more time.

[Cherinfo]

I'm in Florida and still in the house. Stopped paying May 2010, Filed ch 7 Sept 2010 Stay lifted early Dec.2010, Discharged late Dec 2010. I have not heard or received anything since. I have been checking court dockets for MSJ , Nothing yet. I never answered any complaints with bank or the courts to delay the foreclosure. Still waiting.