Wells Fargo foreclosure in Texas question

[tjsmiley]

Does anyone have experience with a Wells Fargo foreclosure in Texas after BK7 filing with the filer surrendering the home? How long does it actually take them to foreclose? And how long would I have before I would have to move?

My attorney told me in general (not specific to Wells Fargo) the timeline is 4 months from the date of last payment. I'm curious if anyone here has had actual experience with a WF foreclosure...did they take 3 to 4 months, or did they take longer?

[brighteyes]

I would like to know too!

[screentest]

I handled my in-laws foreclosure through Wells Fargo, (ASC) American Servicing Corp in California last year. The whole process from last payment to final foreclosure took more than a year. During this time they also filed chapter 7. I handled all correspondence and contact with ASC BK department and actually found them very accommodating. I was able to delay the Trustee sale three times with just a phone call. We played the loan modification/short sale game with them as well just to buy my in laws more time. In the end, ASC/Wells Fargo offered them a final modification(we declined) an opportunity to rent back the house for one year(we declined) and then finally we took a cash for keys offer of $4000 after the trustee sale to move them out.

I found them to be very helpful and understanding and they seemed to be in no rush to take the house back; however once we indicated we did not want any more help they moved through the process more rapidly. This was last May and the house is still sitting vacant.

ST

[goodyphilips]

Its nice to hear when some body says good about lender banks like Wells Fargo, it seems they exhibit professional courtesies too some times.

[enuffznuff]

Gosh, in my area it's a completely different experience. They are right on with the dates (nod after 90 days, sheriff sale after 180 days) and they aren't interested in doing anything helpful. My house is for sale, been trying to sell it the whole time, they still went in and changed all the locks even with the sale sign up, lockbox up, house maintained and utilities on.
My realtor said that she's seen the same quick action with Wells fargo on other clients, but not with any other lenders. (my ex quit paying his mtg same time I did, different lender, he hasn't even gotten an NOD yet. Another friend hasn't paid since 10/09 and no foreclosure action, different lender (same town).

So...I don't know. Guess it depends on your area?

[goodyphilips]

Gosh, in my area it's a completely different experience. They are right on with the dates (nod after 90 days, sheriff sale after 180 days) and they aren't interested in doing anything helpful. My house is for sale, been trying to sell it the whole time, they still went in and changed all the locks even with the sale sign up, lockbox up, house maintained and utilities on.
My realtor said that she's seen the same quick action with Wells fargo on other clients, but not with any other lenders. (my ex quit paying his mtg same time I did, different lender, he hasn't even gotten an NOD yet. Another friend hasn't paid since 10/09 and no foreclosure action, different lender (same town).

So...I don't know. Guess it depends on your area?

Above mentioned case is an exception and not the rule, most of the borrowers go through the same which you are going through with fargo.

[ValleYum]

Above mentioned case is an exception and not the rule, most of the borrowers go through the same which you are going through with fargo.

Not to be antagonistic but if the case you quoted about was the exception and not the rule, why would most borrowers go through the same?

You do realize that the forum administrators removed your ad link from your signature and your somewhat nonsensical posts aren't regurgitating them all over the forum, don't you?

If you truly are a poster and linguistics simply aren't your forte, I apologize. I am cranky due to just having had a root canal. I ground my teeth whilst stressing over finances and cracked it.

[goodyphilips]

Not to be antagonistic but if the case you quoted about was the exception and not the rule, why would most borrowers go through the same?

You do realize that the forum administrators removed your ad link from your signature and your somewhat nonsensical posts aren't regurgitating them all over the forum, don't you?

If you truly are a poster and linguistics simply aren't your forte, I apologize. I am cranky due to just having had a root canal. I ground my teeth whilst stressing over finances and cracked it.

well i must say what I said about Fargo is from the experiences of the borrowers I am reading in various forums. If moderators think that my link floated rules in any manner then they were right in doing whatever they did. I am fine with that.
Apology accepted.

[norcal]

My last payment to WF was in July 2009. We filed chapter 7 in March 2010 and moved out in June 2010, because we had a more family coming to live with us and the house was way to small. We signed over paperwork to process a deed in-lieu-of-foreclosure at the end of November 2010 and they still haven't had the title transferred. This part has been the most frustrating. Apparently the person who received the deed transfer paperwork didn't know they were supposed to file for a title change (WT???); why else would we sign and notarize this type of paperwork! They did come in and change the locks within a couple of days after I told the rep that we wanted to turn the deed back to themand they have maintained the front yard.

I will say that we tried working with them on a modification for over a year (after 3 denials)before filing for bankruptcy. Our credit card debt was mostly from us trying to keep the mortgage up to date and all other bills paid. A manager at WF threatened us with us having to pay the difference after they foreclosed on the house (we are upside down approx. $270K), so that along with the credit card bills rushed us into filing bk. I am sad it came to this.

[tmoschetto]

My BK was final in April 2010 which is the same month I stopped paying my Wells Fargo mortgage here in FL. To date 9 months later, I have received nothing but the regular monthly statement from WF. The statement has the usual BK disclaimer that they are not trying to collect a debt from me personally, only exercising their rights as concerns the property. I see another monthly payment not made and late fees added to the total. They did pay my property taxes in Nov., and escrow was short about $300. Just not a peep about when they'll take the condo back, and meanwhile I'm left paying the monthly condo dues and the 3 special assessments we've had in the past 6 months. I wish they would just take it off my hands -- I moved into a rental last July. Now I'm playing the "should I have just stayed there and save $$" game with myself, but after the BK and knowing I couldn't keep the condo, I just wanted to get out of there and make a fresh start. I'm not sure whether to start calling and bugging WF or just leave it be. I'd love to do a deed in lieu, and I guess that's in their best interest, but the thought of spending my days on the phone trying to be noticed out of the rest of their customers doing the same, I'm just not sure it's worth the aggravation.

[cory1848]

My BK was final in April 2010 which is the same month I stopped paying my Wells Fargo mortgage here in FL. To date 9 months later, I have received nothing but the regular monthly statement from WF. The statement has the usual BK disclaimer that they are not trying to collect a debt from me personally, only exercising their rights as concerns the property. I see another monthly payment not made and late fees added to the total. They did pay my property taxes in Nov., and escrow was short about $300. Just not a peep about when they'll take the condo back, and meanwhile I'm left paying the monthly condo dues and the 3 special assessments we've had in the past 6 months. I wish they would just take it off my hands -- I moved into a rental last July. Now I'm playing the "should I have just stayed there and save $$" game with myself, but after the BK and knowing I couldn't keep the condo, I just wanted to get out of there and make a fresh start. I'm not sure whether to start calling and bugging WF or just leave it be. I'd love to do a deed in lieu, and I guess that's in their best interest, but the thought of spending my days on the phone trying to be noticed out of the rest of their customers doing the same, I'm just not sure it's worth the aggravation.

I am in my 18th month of waiting. Last payment August 2009, filed BK7 Sept 2009 (discharged Jan 2010), LP issues April 2010, hired lawyer to fight and then released him in October 2010. Since then, nothing has moved a bit. Once something does start to move, I estimate legally I have another 4-6 month without fighting. This is with Wells Fargo. Currently planning on moving around April/May but may even push that off to save further. Trying to pay off as much as I can which included a good car payment. My house currently has copper piping issues and septic issues so if either one of those gives way earlier, we will just move earlier.

[AKA]

Made my last `good faith' payment in Feb 2010 to WF after having been previously told my modification was accepted only to be told Feb 2010 it wasn't...stopped paying after that and tried to modify again once I got a good job in June only to be declined. Filed BK 7 a few months after, got dismissed, converted to a 13 this past week. Received all sorts of notices of foreclosure and mediation hearings...just received a notice for a mediation hearing that somehow got scheduled for next month. I want to make sure the deed is transferred back into the banks or someone elses name before I move out. Otherwise I would move out and the deed will stay in my name until the bank sells the home and I can't buy a home until 3 years from the date the deed is transferred.

[CCCrazy]

AKA, what was WF's reason for declining you a loan mod in June 2010 after you found a good job? I've been declined once for not having "steady income" - whatever - I do contract work in IT - I might have 2-4 week break inbetween contracts. I'll probably get my NOD March 1 and end up fighting it in court and get called to mediation like you since in IL you have to go thru the courts. And like you, if I have to, I'm not moving until that deed is transferred.

[AKA]

AKA, what was WF's reason for declining you a loan mod in June 2010 after you found a good job? I've been declined once for not having "steady income" - whatever - I do contract work in IT - I might have 2-4 week break inbetween contracts. I'll probably get my NOD March 1 and end up fighting it in court and get called to mediation like you since in IL you have to go thru the courts. And like you, if I have to, I'm not moving until that deed is transferred.

CCC, initially around October 2009 I was 'told' I was approved for modification, was given terms, but no docs. They said to make 4 monthly good faith payments, which I did. Several times I asked for the documents verifying everything I had been told only to find out I would receive them after my good faith payments were made. Upon completion in March 2010 they told me they had modified the program and I would have to re-apply for modification. After not being approved the first time around I guess for not having a steady income I re-applied end of May 2010 when I started a new job with steady income. Months of sending documentation and being upgraded from person to person fully expecting to make my mortgage affordable I was called on a Saturday afternoon and told they also needed my ex-wife's last two pay stubs and last W-2...in 48hrs!!! We divorced over a year ago and we weren't living together and our divorce decree stated I had exclusive use, ownership and expense of the house. They still wanted to include her financial documentation, which didn't make sense because she was somewhere else paying rent, expenses, etc. I called her because I had to, she was out of town, got it on Tuesday and faxed it in. A week later I receive a letter stating my modification was denied due to lack of providing docs in a timely manner. That was the last straw. If they didn't want to work with me then file and give them the keys. Funny thing is I keep getting letters from WF letting me know of all my options to make payments and stay in the house. Tried painstakingly so many times...I'm done and don't trust them as far as I can throw them.