Longest wait for foreclosure?

[tobee43]

We are still in foreclosure.

Pasco County FL (Tampa Area)

Last mortgage payment: December 2007

Bank: BoA

We have not tried to delay or draw things out. They have just been that slow. We want the house to go away. We bought another one with cash a month before filing Ch 7 a couple years ago. Long story, but no laws were broken, and the timing on everything was spectacularly in our favor.

BoA sent us three more FedEx envelopes LAST WEEK, asking us if we are interested in a mod. That makes about 15-18 FedEx packages so far this YEAR. I am beginning to wonder if there is something else going on here, that I should look into. Otherwise, WHY haven't they foreclosed after all this time?

Anyway, good luck to everyone going through this.

deadman, we are in florida now, that's were we moved from nj. i can't believe how much inventory is here!! we were in the tampa area when we first came down, but since have moved. we are more "central" now and i can't tell you how many vacated houses there are here!! one would really think, i suppose, depending on where you are, when there is so many empty houses the bank would rather have someone not pay and stay just to keep the house up?

i know the house we left up north the bank must pay a small FORTUNE to keep on the heat and take care of the grounds. even with a ride around lawn mower it took 5 hours to mow the law!! LOL!!! otherwise the critters come about...and the POOL and ponds must be green with scum and yuck and snakes and terrible things...oh my...and oh well. had chase worked with us, it wouldn't be their problem! but is surely is now. we heard through the "grapevine" chase is mowing part of the property, but we have no idea what they are doing about the heat in the summer with the black mold caused by the spring flooding, that flooding floods both the inside of the house and all the leech fields and septic... nor the frozen pipes with the -30 below in winter. oh well!!!

one would think that chase would like to off that property asap...but then again, maybe they let it go now after over 3 years so badly, it may not be able to pass inspections

[Isobel]

I'm in California, stopped 1st (Wells Fargo) & 2nd (PNC Bank) payments in Feb 2011, got letter saying Ndx West had taken over the first (or something like that - like WF sold the first to them). Ndx promplty filed a Notice of Default on May 23rd....

It's really difficult not knowing when to move. I need to save as much money as possible, of course, and plan on filing July 1st....

[DeadManCrawling]

We are still in foreclosure.

Pasco County FL (Tampa Area)

Last mortgage payment: December 2007

Bank: BoA

We have not tried to delay or draw things out. They have just been that slow. We want the house to go away. We bought another one with cash a month before filing Ch 7 a couple years ago. Long story, but no laws were broken, and the timing on everything was spectacularly in our favor.

BoA sent us three more FedEx envelopes LAST WEEK, asking us if we are interested in a mod. That makes about 15-18 FedEx packages so far this YEAR. I am beginning to wonder if there is something else going on here, that I should look into. Otherwise, WHY haven't they foreclosed after all this time?

Anyway, good luck to everyone going through this.

[bladerunner]

(1099 IRS form)

[tobee43]

What? Sounds like a good deal to me. LOL

@bladerunner - yes - I hear horror stories from people in Vegas and you're right, people in their 40's and 50's are in a terrible position right now. If I may ask, are you planning to stay in Vegas since it's so bad?

and such a deal!!!

although directly at bladerunner, i don't frankly think it much matter where you are...we are both "up there" in age, apparently we have had way to much education and experience, (LOL!!) and we will never be able to work again, or let me re-word that, no one will ever hire either of us again. we are the "lost" old society...getting up there in age. why pay us anymore when you can get a college student fresh of college struggling to make their student loan payments for 1/4 of what we use to get paid. oh, and don't forget, these employers will make certain they only are scheduled for 28 hours a week so no benefits!! ahhhhh...

[freeatlast09]

or....ok..we will drop your payment $200 monthly for 3 years and tack it on the back of your loan for an additional 14% interest on the deferred amount.

What? Sounds like a good deal to me. LOL

@bladerunner - yes - I hear horror stories from people in Vegas and you're right, people in their 40's and 50's are in a terrible position right now. If I may ask, are you planning to stay in Vegas since it's so bad?

[tobee43]

Well they strung me along to the point now that I don't care. I worried about it enough. Called them every week.......sent all the docs they requested several times......they took the government bailout money and haven't tried to help nobody. (no one that I know anyway)
I'll stay here rent/mortgage free til I get a sale date.

me either, i know of NO one...except offers like: ok you can miss this months payment but next month you have to pay double...excuse, me i just told you we lost our jobs and we can't even make one payment, so how or where do you think we can get the money for two?

or....ok..we will drop your payment $200 monthly for 3 years and tack it on the back of your loan for an additional 14% interest on the deferred amount.

great world, IF you are a bank! LOL!!

[MD69107]

Well they strung me along to the point now that I don't care. I worried about it enough. Called them every week.......sent all the docs they requested several times......they took the government bailout money and haven't tried to help nobody. (no one that I know anyway)
I'll stay here rent/mortgage free til I get a sale date.

[tobee43]

Yes, I did refinance around 2007.......I called them the same day I lost my job in 2009.....figured I would try to be proactive........that was the first words out of the CSR's mouth.......well you aren't late.......wait til you are behind.

we did as well, and i think that's why our mortgage may be involved with the robo signing mess. just pure speculation, on my part, but, i think it may be so.

[MD69107]

Yes, I did refinance around 2007.......I called them the same day I lost my job in 2009.....figured I would try to be proactive........that was the first words out of the CSR's mouth.......well you aren't late.......wait til you are behind.

[tobee43]

CitiMortgage- last house payment, Dec 2009. Intent to foreclose letter, April 2010.
Foreclosure notice and notice of auction, July 2010. Auction postponed until Dec 2010, CitiMortgage sells the foreclosed property to Nationstar mortgage in Dec 2010. Nationstar agrees to a short sale Jan 2011. Short-sale completed end of Jan 2011. Total 13 mos. 1009 tax notice for a 139k deficiency balance received March 2011. Insolvency and Mortgage Debt Relief Act releases us from any IRS debt. Sure our credit is shot, but we never declared bk. The banks want you to foreclose, because foreclosure releases bailed out TARP money set up only for them, that's why the difficulty with loan mods, short sales and principle reductions.....as a footnote, many of us in our 40's and 50's have suffered tremendously during this great, great, depression. we have lost our jobs, savings, health insurance and our homes. We are too young to retire, and not desired in the work force. We probably will never be able to receive social security or medicare(country broke) unlike my 80 something yr old parents...I feel terrible for everyone suffering and my hopes and prayers are given freely....p.s. live in Vegas, #1 in foreclosures, defaults and bankruptcies...

wow blade, you hit the nail right on the head with what you have written.

you're experience was right down the line!

[bladerunner]

CitiMortgage- last house payment, Dec 2009. Intent to foreclose letter, April 2010.
Foreclosure notice and notice of auction, July 2010. Auction postponed until Dec 2010, CitiMortgage sells the foreclosed property to Nationstar mortgage in Dec 2010. Nationstar agrees to a short sale Jan 2011. Short-sale completed end of Jan 2011. Total 13 mos. 1009 tax notice for a 139k deficiency balance received March 2011. Insolvency and Mortgage Debt Relief Act releases us from any IRS debt. Sure our credit is shot, but we never declared bk. The banks want you to foreclose, because foreclosure releases bailed out TARP money set up only for them, that's why the difficulty with loan mods, short sales and principle reductions.....as a footnote, many of us in our 40's and 50's have suffered tremendously during this great, great, depression. we have lost our jobs, savings, health insurance and our homes. We are too young to retire, and not desired in the work force. We probably will never be able to receive social security or medicare(country broke) unlike my 80 something yr old parents...I feel terrible for everyone suffering and my hopes and prayers are given freely....p.s. live in Vegas, #1 in foreclosures, defaults and bankruptcies...

[tobee43]

Thanks for the information. I am curious to know if you have been able to purchase a home post BK and before the bank actually took title?

we did, however, it was a rare find, one that i believe we will be seeing more of shortly, if the banks don't start lending, and since there is so much inventory! our home was 100% financed by the owner. although, we came up with a rather large downpayment...(not really, it's the house was sold to us for less than half of what the actual owner paid, but he had no mortgage on it). he had it up for sale for a while and couldn't get anyone to bite, so we rented with option to buy and i bugged him enough that he finally gave it. also we offered MORE than what he was asking for because we also wanted him to hold the mortgage. i told him what a win win for him!! money in his hands and if we defaulted what did he have to lose, he just would get back the house. it took some nudging, but he went for it. now we have a lovely home.

also, i'm an real big time believer in land contracts, mostly used in the 80's when the interest rates where so high and banks were also tight. renting with options to buy or wrapping around another mortgage i really think may possibly the wave of the future my attempting to buy a house for many. but, i could be wrong!!

[bearstrio]

Thanks for the information. I am curious to know if you have been able to purchase a home post BK and before the bank actually took title?

[tobee43]

MD here. Made the last payment in August of 2009. Filed Chapter 7 in Jan 2010. Closed out in July 2010. Foreclosure was filed in April 2010, but still haven't got a sale date as of yet. Been turned down twice for modification, so just waiting til I have to move out. I've come to the point that they can take this house and this mortgage and shove it.
The loan was a Fannie Mae 30 year fixed with Chase as the servicer.

another Chase person!!! by any chance did you do a refin in 2006 or 2007 or around those years? or about that time??? just wondering?

we also were right in the MIDDLE of the loan mod when we rec'd the summons of the foreclosure from Chase. we just stayed a few months then packed it up and left after living there for 33 years and never ever being late on our mortage. i just LOVE the way they, the banks MAKE you become behind before they would consider a loan mod. we did foolishly, attempt to be pro active to no avail with them. they said clearly YOU MUST be hind at least 3 months before we will LET U do a loan mod. we actually went into a satilight office Chase set up to handle these loan mods and personally handed them every piece of paperwork required....17-18 months later they still never ever responded. we never knew what even happened.

however, odd enough, last year Chase contacted us...(we moved 1800 miles away) and asked us or really it was more like, told us the loan mod had been re-opened and what are we planning on doing...excuse me???? at that time it was just over 2 years and NOW you want to know...what is it exactly about the word "surrendered" you don't get???

Chase...what an adventure!