Certified letter

[nazstar]

I just got a notice that there is a certified letter waiting for me at the post office from the mortgage company. I am 2 months behind and not planning on keeping the house. I told them I was having trouble paying and was speaking with a lawyer to go over my options. Could this be a notice of foreclosure already? Or is that done by the sheriff or court?

[HHM]

Go pick it up and find out.

The legal requirement for notice is that they "send" it to you. Whether you actually receive it or not is irrelevant. So go pick-up the letter and answer the question for yourself.

[BKcrazy]

Ah, I just got a notice for a certified letter too. There are actually two items waiting for me. If it's the mortgage company, aren't they violating the automatic stay?

[nazstar]

Go pick it up and find out.

The legal requirement for notice is that they "send" it to you. Whether you actually receive it or not is irrelevant. So go pick-up the letter and answer the question for yourself.

I've been trying to pick it up! I moved, so I got the notice when I picked up my mail this weekend. The post office in my old neighborhood is so difficult and when I go they tell me, "oh the mailman has it out" and they won't redeliver it to my new address. I'll just have to try again. It will probably entail taking time off to get there while they are open.

[BassBoy]

It could be.....

The mortgage company may be contacting you about your delinquent balance. As long as the mortgage company does not demand payment and if there is some language that the payment is voluntary, then the lender has not violated the automatic stay.

[BKcrazy]

It was for the trustee sale. Yippee.

[nazstar]

Okay. I got the letter today but not sure what it means. It's titled NOTICE TO CURE AND INTENT TO ACCELERATE. It says this is a formal notice that my agreement to pay as outlined in my Note and Mortgage/Deed of Trust has been breached due to missing payments as of Nov 1.

It is asking me to pay the last 2 months by the last business day of December. All payments in Certified funds, only full amount will be accepted. It is their intent to declare loan past due and payable immediately if backpayments are not made.

Any help here?

[HHM]

That is generally the first step in the foreclosure process. No big deal.

It is simply the acceleration notice...before a bank can foreclose (in many states, especially power of sale states, i.e. non-judicial foreclosure), the bank must first "accelerate" the note, meaning they must demand you pay off the note in full by "XX" date. If you fail to pay, then the home officially goes into foreclosure.

[nazstar]

Thanks! And from that point (which would be January 1st), it should take about 4-5 months to complete foreclosure process? This isn't something they can complete in 30 days or anything?

[BassBoy]

30 days? Highly unlikely, especially in a judicial foreclosure state.

[nazstar]

Do you know offhand if Florida a judicial foreclosure state?

[BassBoy]

FLORIDA FORECLOSURE
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: No
Security Instruments: Mortgage
Right of Redemption: Yes-brief and subject to court procedure
Deficiency Judgments: Yes
Time Frame: Usually 180 days

[gophermn]

Sheriff sale - must delay them!!

Moved post

[chpxiii]

I wish my attorney would just file. I met and paid in full 10/19/07.

Why is he delaying? From this statement, it seems like you can just go ahead and file, but are there circumstances that you're attorney is waiting for time to pass? i.e. 6 months for income, 90 days for credit card usage, etc. What?