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Now unemployed, means test, and mortgage note on door ..

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  • Now unemployed, means test, and mortgage note on door ..

    Okay, so I get home from work and there is a business size card on my door. It simply says "A personal call was made to your home today. You should call immediately". Handwritten on the next line was my mortgage servicing company and a 1-800 number. My name was handwritten on the back.

    What the ?????

    The story. I have not made the mortgage payments due 10/15 and 11/15. Last paid was 10/15 for 9/15 late payment due. At that time I was not thinking bankruptcy. Wish I had not even made that last payment. This is all for my 1st mortgage. Fast forward to today. Just cannot afford expenses (over 110K unsecured) and home mortgage (1st, 2nd, heloc) and just found out that tomorrow (Thur 11/20) will be my last day at work. Yup, joining the unemployed crowd. I stopped paying all cc and mortgages last month and hoped to file after 90 days.

    Here's where the means test sucks. I was unemployed first 2.5 months of the year. I've made appx 60/hr gross on a contract the last 8 months and now I am unemployed again. Based on the means test, for my last 6 months, I make about 120K a year when I've really only made about 78K the entire year. Anyway, I have retained a lawyer and paid half the cost already. Will be seeing her again next week.

    Just wondering if anyone has had a personal visit to their home by someone from their mortgage servicing company when I am only 2 months late. I live in Northern California and my 1st mortgage is thru a local credit union that already sold the loan to an Illinois servicing company. The local CU still collects my payments on behalf of the mortgage owning company. I had planned on filing BK in Jan or Feb after 90 day wait and will be giving up the house but hope I can still live here rent free for about 5 or 6 months while I look for another job. Sure wish I had CW or Chase or Citimortgage or BofA or one of these other mortgage places that's backed up and taking 8-12 months. Seems my local CU is moving quickly and I'd be lucky to be here another 2 months. They also sent a certified mail on Fri. Wasn't home. Went to the post office Sat to get mail but post office lost the certified mail. Amazing.

  • #2
    Calif is a Judicial Foreclosure state you have about 6 months 120 days after they start. then the BK will hold them up a bit.
    you have time so relax as best you can.
    Chapter 7 07/30/2008
    341 09/17/2008
    Discharge 11/21/2008


    • #3
      Originally posted by TEW View Post
      Calif is a Judicial Foreclosure state you have about 6 months 120 days after they start. then the BK will hold them up a bit.
      you have time so relax as best you can.
      Thanks. Not gonna be easy in the next few weeks/months with the unexpected unemployment. I expected to get a notice of default after I miss the 3rd payment next month so I was surprised about the personal visit. So is it about 120 days from the time of the notice of default? Certainly hope I can stay here another 4 months rent free.

      Question for anyone .. I have been getting tons of calls since I stopped making payments on all cc and loans around the middle of October. I want to wait 90 days after last CC use before filing BK and that won't be till around Jan end. Since I have already retained an attorney, is it wise to already refer creditors to the attorney? Maybe the CC and the personal loans but the mortgage? Especially the mortgage? Should I refer them to the attorney? Wouldn't that accelerate the foreclosure process? Again, I want to stay in the house as long as I can especially now that I am unemployed and essentially broke and will be living on unemployment benefits till I find another job.


      • #4
        Change your phone number.

        Concentrate on your future, rather than the past. You have plenty of time of free rent.


        • #5
          We have had the second lienholder on our primary residence do this three times - Quicken Home Loans. Our house is also in Northern Cali, first payment missed was May this year.

          We actually have two homes that we will be giving up, 4 mortgages totalling about 906k, interesting to me that the smallest lienholder is the one who did this.

          IndyMac 1st 318k - 1st missed July
          Countrywide 2nd 100k - 1st missed June

          AmTrust 1st 423k - 1st missed May
          Quicken 2nd 65k - 1st missed May

          None of these lenders call us at all! No foreclosure process has been started by anyone and they won't do Deed in Lieu of Foreclosure - no one wants the houses!
          Last edited by Trixie007; 11-20-2008, 01:08 PM. Reason: include numbers
          BKForum Blog: The Journey



          • #6
            What I don't get is that do they really expect me to open the door for a stranger and invite them inside for a cup of coffee while they ask me why the hell I've missed two payments while ignoring their phone calls?

            Trixie, did you answer the door? I wasn't home when they came and probably wouldn't have opened the door unless it's the mail man, fedex or ups.


            • #7
              You never know who left the note. Did you call to confirm it was from your servicer? There are tons of companies that have access to data on homeowners who are late or just became late. They buy it from credit companies. They could be marketing for your business to refinance on the new Hope for Homeowners program insured by HUD or they could be trying to offer assistance in securing a loan modification. I would assume it would be too early for a BPO. Maybe google the 800 number and see what comes up?????
              Last edited by BassBoy; 11-21-2008, 11:11 AM. Reason: took out advertising (Minny) -- Removed "Real" name (BassBoy)


              • #8
                Thanks Sequoia. I did call the 800 number and googled it and it is indeed the morgage servicing company based in Illinois. Maybe they had the local CU send somone out since I got the loan thru my local CU, make payments to the local CU and they forward it to the Illinois company since they sold them the loan. I did not want to call at first because I did not want them to see my cell number (even if your number is blocked, as mine is, dialing 800 or 888 or 866 toll free numbers will legally unblock it to the receiver). So I dialed using Skype and confirmed it was them.

                I may just talk to the local CU and mortgage servicing company next week and tell them straight up ..... yes, I've missed two payments because I can't afford the payments anymore. My house is 150K upside down. I am broke. And now I am unemployed. And oh, by the way, here's my lawyers number as I am filing for BK.

                I just want to be able to stay in the house till March next year.


                • #9
                  Honestly, I would not tell the mortgage co. you are filing for BK. Just field the calls the best you can! It's hard at first, they know what to say to get to you. Just say, "I am working on it", "I hope to be able to make a payment soon", whatever to get them off the phone. Now, for credit cards, just give them your lawyers # and they will stop calling! That was the best!! I didn't want the mortgage co. and my car loan to speed up their process if they knew I was filing. I don't know if they would have but I wasn't chancing it. We stopped paying our mortgage in Dec 2007. My mortgage is $605,000 and $5000 a month. My house finally went to auction in October and now we have to be out in December. We lived the entire year rent free. We didn't even pay the homeowners insurance! It took them 8 months before they came for my car which I gave them. You will get used to all of this and you can wait to file so your income has a chance to average out to fall under the mean which really is key. I can't answer anything about filing 'cause we haven't even done it yet but I've been through almost everything else this year!! And survived!! And am OK!! You will be too!


                  • #10
                    You should not have a problem staying there until March. You do not have to talk to them unless you want to.
                    My mortgage company asked if I would stay in the house until they ask me to leave.
                    Chapter 7 07/30/2008
                    341 09/17/2008
                    Discharge 11/21/2008


                    • #11
                      Originally posted by Doghouse View Post
                      Trixie, did you answer the door? I wasn't home when they came and probably wouldn't have opened the door unless it's the mail man, fedex or ups.
                      Two times I was not at home. The third time I got lucky, and was in my home office on the second story of the house. When they knocked I looked out, saw the car with some kind of sign on the door that I didn't recognize, so I just didn't answer. I found the door hanger a bit later.
                      BKForum Blog: The Journey



                      • #12
                        Thanks all. The unexpected job loss just accentuated my worries. Since I stopped paying all cc and mortgage last month, I should be able to survive on unemployment insurance till at least March (thank goodness it is 450/week in California).

                        Yeah, I guess maybe I shouldn't tell the mortgage company that I am filing for BK. Don't want them to accelerate their process. In fact they had sent me a hardship document for some kind of loss mitigation help and I am contemplating whether to fill it out and send it back to them to at least stall them a little bit longer.

                        Trixie, looks like I'm going to have to look out as well when I hear a knock on the door now that I am unemployed and will be home more. Still don't know why they think I'd have a chat with them at home if I am ignoring their calls and letters.


                        • #13
                          Honestly, I don't think it's your creditors at your door...I don't think they're allowed to do that-there are strict rules about what they can and can't do to collect a debt. I had five knocks on my door in 11 months and none were creditors. Two were real estate agents offering a way to save my house, Two were the people hired to pick up my car, and the last one was this amazing guy who acts as a liason between the bank (who now owns my house) and me- He is sooooo nice and worked out a "cash for keys" deal with us for vacating the house. I have almost 800K in all combined debt and no one ever bothered me more than that. I've had a couple of court dates too with creditors suing me (Target Natl' Bank), no biggie, nothing happened. They can't get what I don't have!!
                          I can't believe I've survived all this and I don't even have an ulcer!! The scariest part of this whole year was losing the house and finally having to leave. Two kids who are sorta old enough to understand a little and you have to stay "up" and positive for their sakes. I don't want them to be scared or feel unsure of things.
                          You will be fine and you'll get used to all of this and you'll find a level of acceptance and comfort. Good Luck!


                          • #14
                            Creditors can come to your home during "reasonable" hours to try and collect. Capital One Auto Finance started doing it just before I quit working for them. Breaking kneecaps, however, is not allowed!


                            • #15
                              I don't believe it was actually the creditor at the door - I believe they just hire some sort of courier service to drop off the notice asking you to call them. I suppose just the shock value of it might make some people call.
                              BKForum Blog: The Journey



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