Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

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Facing foreclosure 2 years post-BK in IL, how long should I ignore lender?

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  • Facing foreclosure 2 years post-BK in IL, how long should I ignore lender?

    My wife and I filed bankruptcy in late 2012 in Illinois and it was discharged in February, 2013. We did not reaffirm our $300,000 mortgage. My wife has not been working since September 2012 due to our daughter being homebound due to medical issues, and we are now facing foreclosure again. We went through a HAMP remodification loan process in 2012 before filing bankruptcy. After the bankruptcy we received assistance on our mortgage payment through the Illinois Hardest Hit fund (due to our daughter's medical condition).

    It is December 3, 2014 today and we haven't made a mortgage payment since April of this year. My wife thinks that we should ignore our lender's constant calls because she says they will quickly evaluate our income to see if we qualify for any of the loan repayment/modification plans that are currently available to us, which we probably will not qualify for due to our low income. (You can't stay in a $300,000 home making just $40,000 a year, right?) So, if we fill out the income form and submit it to our lender to see what we program(s) we might qualify for, we are concerned that it may accelerate the process of putting us out on the street when they determine that we are just in over our head.

    It would be financially impossible for us to move out and rent right at this moment. I am a self-employed web developer and my business hit a real weak spot in sales starting in September of this year when a big client took their outsourced work in-house. It seems like we are just living from financial crisis to financial crisis and we need a little breathing room to get caught up on things. So I guess my main question is, how can we delay the foreclosure process? Should we immediately submit the income form to our lender to see if we qualify for any of the remodification, repayment, or reinstatement programs that might be available to us? I'm concerned that the lender may tell Fannie Mae that we are not responding, which could make us disqualified to be considered for assistance.

    Any advice would be greatly appreciated. I have been looking for places to rent on Craigslist ever day for the past six months trying to prepare to get out from under this mortgage, and it is depressing.
    Last edited by Broke2011; 12-03-2014, 02:22 AM.

  • #2
    How can I slow down the foreclosure process?

    I live in Illinois and am facing foreclosure. We have been ignoring our lender's calls for about 30 days now. We haven't made a payment on our mortgage since April, 2014. We were served with foreclosure papers in September.

    The home loan was discharged in our bankruptcy in early 2013, but we cannot afford the $2,200 monthly payments with my wife being out of work due to our daughter's medical condition.

    The lender keeps calling to try to evaluate us to see if we qualify for any of the modification/repayment plans, but I'm guessing that we probably don't. We already got a HAMP remodification loan in 2012, and my $35,000 current annual income simply wouldn't qualify us to stay in a $300,000 home. Not to mention my home business is very slow right now due to loss of a large client.

    Should we keep ignoring the lender's calls, or should we go ahead and let them determine if we qualify for one of the modification/repayment plans?

    My wife is concerned that if we let them evaluate us and they determine by our income that we do not qualify for any assistance, it will accelerate the foreclosure process.

    If you know of any ways to slow down the foreclosure process, please reply. Thanks!


    • #3
      I merged your 2 threads into one because you are asking the same question. Please do not post the same question twice. The board has not been very busy lately, so it may take some time to get a response.
      LadyInTheRed is in the black!
      Filed Chap 13 April 2010. Discharged May 2015.
      $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!


      • #4
        Originally posted by LadyInTheRed View Post
        I merged your 2 threads into one because you are asking the same question. Please do not post the same question twice. The board has not been very busy lately, so it may take some time to get a response.
        I tried to delete the old one, no luck. I was just in a hurry to get a reply, sorry. Thanks.
        Last edited by Broke2011; 12-05-2014, 01:42 PM.


        • #5
          Very odd... not even one reply.

          Please delete this thread. Thank you.
          Last edited by Broke2011; 02-11-2015, 12:22 AM.


          • #6
            We do not delete threads for the sole reason that no one responded. As my co-moderator, LITR, wrote, it may have just been a real slow time and no one with experience in the Illinois foreclosure process and current timelines was able to respond to your post.
            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
            Status: (Auto) Discharged and Closed! 5/10
            Visit My BKForum Blog: justbroke's Blog

            I am not an attorney. Any advice provided is not legal advice.


            • #7
              Well it serves no purpose here with no replies.

              Strange rule.


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