When did you stop paying mortgage?

[drowning123]

Believe me, jimbo, even without answering, thereby getting a default judgment, it still takes a long time in New York. My bank has been making me offers too. I actually kinda wanna get out, but if I can stay, I'll take advantage.

[jimbo367]

A FC defense lawyer told me that in NY it cost the bank 50-80K in legal fees to FC,

So if you're saving them legal fees you can get cash for the keys if you play it right.

25K at a minimum to settle.

[drowning123]

Say it ain't so! My ears perked up. LOL. My house is barely worth more than that. LOL. I wonder if they'd just leave me alone? LOL. I doubt if they can sell it for more than $120,000, cracked basement and all.

[discouraged]

1. What's your state? Minnesota
2. When did you stop paying? June 2010

3. Are you still in the house? Yes

4. What is the status of your foreclosure (if it has begun). Have heard nothing since BK. Waiting on Sheriff's sale (no notice yet) and then there will be 6 months before I have to be gone. Hoping this will last until next spring as moving in winter will not be pleasant, but holdong on anyway.

[goblue]

1. IL

2. Sept 2009 -- filed CH7 January 2010, discharged May 2010

3. No

4. Auctioned/sold in October 2010

Maybe the fact that we were in the process of Ch7 and indicated we were surrendering the home sped up the auction process?

[drowning123]

Yea, goblue, that was fast.

[slam22]

1. California
2. March 2008
3. My company transferred me to Dallas, TX. We converted our home to rental property. We have a tenant with a 1 year lease. BofA is paying the property taxes and were paying the insurance. We picked up the difference on the insurance now that it is investment property. We pay a very small HOA fee. All of the remaining rent goes into our investment accounts.
4. Bank of America has never filed a NOD. They agreed to do a Deed in Lieu but then never followed through with any paperwork. They totally dropped the ball and we haven't heard from them since. They are the stupidest bank in the world. They deserve to fail.

[bk2009]

1. Ohio
2. March 2009
3) It was always a rental house, tenants lived there rent free (they stopped paying rent and we were in a position with my husband laid off that we couldn't even pay to have them evicted) until the house was sold - May 2011.
4) Foreclosed - May 2011. It was a small, local bank, so that might come into play.

We have not filed BK. We just went through another layoff, this one only 2 months. We know we'll eventually file, we just need to scrape together money to file now. Our house we are behind in and getting notifications to help us save our home through a remod. They weren't interested in a remod once DH lost his job though. And yesterday we received a "put your home up for short sale" letter. We're planning on filing in the coming months and we're already about 4 months behind, with BOA, formerly countrywide. Not sure how it will all play out with them. We didn't hear a peep from the local bank, other than "past due" for a good year and a half.

[tobee43]

Dang, tobee. Ya coulda been a millionaire by now with all that saving.

don't i wish..the utilities ran about 1200 bucks alone. shoot that's what it cost me for everything down here...all utilities, car insurance, mortgage, food...all of it!!!!

[drowning123]

don't i wish..the utilities ran about 1200 bucks alone. shoot that's what it cost me for everything down here...all utilities, car insurance, mortgage, food...all of it!!!!

Well, you definitely made the right decision.

[drowning123]

Again, thank you all for your replies.

[tobee43]

Well, you definitely made the right decision.

we think so???? we do really like it here. but i must admit it's a culture shock!!

[discouraged]

With my utilities at 70 per month (although with the bad winter and now summer heat it's about 100) I am thankful BofA is taking so much time to get this foreclosure going. Still nothing here and they should have done the Sheriff's sale last December.

[CCCrazy]

1. Illinois
2. July 2010
3. Yes
4. Filed General Appearance earlier in the year and still no court date.

[tobee43]

With my utilities at 70 per month (although with the bad winter and now summer heat it's about 100) I am thankful BofA is taking so much time to get this foreclosure going. Still nothing here and they should have done the Sheriff's sale last December.

i would stay until the very last minute under those circumstances!!! but don't want until that final moment to research where you are going. just in case. although, i think in your area, much like here in florida, there are many empty places to be rented. correct me if i'm wrong.