A place for the discussion of all things foreclosure related. You can participate in our general Foreclosure Discussion or post items of interest in our Foreclosure News. It's easy to get started, you can post a new topic (question) or Create a new Profile which will allow you to receive email notification of replies. http://www.all-foreclosure.com/forums/index.php Wed, 16 May 2012 08:58:31 -0700 Phorum 5.2.12a http://www.all-foreclosure.com/forums/read.php?3,5697,5697#msg-5697 http://www.all-foreclosure.com/forums/read.php?3,5697,5697#msg-5697 chucky Foreclosure Discussion Wed, 16 May 2012 06:42:56 -0700 http://www.all-foreclosure.com/forums/read.php?3,4158,5696#msg-5696 http://www.all-foreclosure.com/forums/read.php?3,4158,5696#msg-5696
If it is inevitable that Say will eventually lose the house she would probably be better off letting them foreclose and staying as long as she could without paying anything.

Of Course this is Just my opinion.]]> EB Foreclosure Discussion Wed, 16 May 2012 05:39:38 -0700 http://www.all-foreclosure.com/forums/read.php?3,4158,5695#msg-5695 http://www.all-foreclosure.com/forums/read.php?3,4158,5695#msg-5695 Say has a Point Foreclosure Discussion Wed, 16 May 2012 05:12:56 -0700 http://www.all-foreclosure.com/forums/read.php?3,5693,5694#msg-5694 http://www.all-foreclosure.com/forums/read.php?3,5693,5694#msg-5694
Short sale would require your father, assuming he's on title to the home, to list the property for sale with a real estate agent.

If the property actually goes to auction you should figure on being out of the property around 30 days after the auction. It could be later but that would be a "safe" timeframe.]]> Jim V Foreclosure Discussion Tue, 15 May 2012 20:03:19 -0700 http://www.all-foreclosure.com/forums/read.php?3,5693,5693#msg-5693 http://www.all-foreclosure.com/forums/read.php?3,5693,5693#msg-5693
If it goes to the foreclosure date how long will I have to move out?

They are stating they will review more paperwork for underwriting so trying to continue to get more paperwork together for reveiw before June 4 ?

Any advice would be appreciated.]]> Georgia Foreclosure Discussion Tue, 15 May 2012 19:15:53 -0700 http://www.all-foreclosure.com/forums/read.php?3,5683,5692#msg-5692 http://www.all-foreclosure.com/forums/read.php?3,5683,5692#msg-5692 But you are correct. I did work out of the house to help with my mother during the day
who was ill. Therefore, I had the internet and phone in my name when I had the internet installed. It has been explained to Wells Fargo and we are to send in things with his name on items (from the mail) to show he was recieving information at this address. They are going to determine based on that. He bought this house to be closer to town but kept his original home and family lives there. There are some items that still has his name attached to that house because mail was never changed. Items were just given to him if they came to that address by family.]]> Georgia Foreclosure Discussion Tue, 15 May 2012 13:19:59 -0700 http://www.all-foreclosure.com/forums/read.php?3,5649,5691#msg-5691 http://www.all-foreclosure.com/forums/read.php?3,5649,5691#msg-5691 gumball Foreclosure Discussion Tue, 15 May 2012 12:38:23 -0700 http://www.all-foreclosure.com/forums/read.php?3,5677,5690#msg-5690 http://www.all-foreclosure.com/forums/read.php?3,5677,5690#msg-5690
Mitch]]> Goldman in Florida Foreclosure Discussion Tue, 15 May 2012 09:20:36 -0700 http://www.all-foreclosure.com/forums/read.php?3,5687,5689#msg-5689 http://www.all-foreclosure.com/forums/read.php?3,5687,5689#msg-5689 EB Foreclosure Discussion Tue, 15 May 2012 04:40:06 -0700 http://www.all-foreclosure.com/forums/read.php?3,5687,5688#msg-5688 http://www.all-foreclosure.com/forums/read.php?3,5687,5688#msg-5688 NJDave Foreclosure Discussion Mon, 14 May 2012 14:51:10 -0700 http://www.all-foreclosure.com/forums/read.php?3,5687,5687#msg-5687 http://www.all-foreclosure.com/forums/read.php?3,5687,5687#msg-5687 EB Foreclosure Discussion Mon, 14 May 2012 13:19:00 -0700 http://www.all-foreclosure.com/forums/read.php?3,5683,5686#msg-5686 http://www.all-foreclosure.com/forums/read.php?3,5683,5686#msg-5686
Did your Father actually live there? If so, he must have had mail going there. Do you have any kind of tax status in your state for owner occupants?

And have you explained to Wells Fargo the situation?

Guess I, for one, need some clarification on the situation. It's Monday morning and I am not yet firing on all cylinders :>)

Steele]]> steele in minnesota Foreclosure Discussion Mon, 14 May 2012 06:37:37 -0700 http://www.all-foreclosure.com/forums/read.php?3,5677,5685#msg-5685 http://www.all-foreclosure.com/forums/read.php?3,5677,5685#msg-5685
Research "Credit Default Swaps", this type of defense seems to hit the banks harder then the "show me the note" defense.

Just my opinion of course.]]> EB Foreclosure Discussion Mon, 14 May 2012 05:27:04 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5684#msg-5684 http://www.all-foreclosure.com/forums/read.php?3,5667,5684#msg-5684 NJDave Foreclosure Discussion Sun, 13 May 2012 08:47:32 -0700 http://www.all-foreclosure.com/forums/read.php?3,5683,5683#msg-5683 http://www.all-foreclosure.com/forums/read.php?3,5683,5683#msg-5683
denied stated could not prove residency on the house. My father's home has my telephone number on the home phone bc I did Medical Transcription there qhile helping to look after my mother and since it was my business I listed the services in my name. His namr was left on is house that he doesnt live in annymore. Is there any chance Wells Fargo is going to let him keep this house and work out a load modification. The load was on an afjustable arm and the paymet is now exceeding the contract amt of 1057. payment is now up to 1231.

Any help would be appreciate, Cant catch up,,,, We don't know what to do byt we dont[ want to lose this house]]> Georgia Foreclosure Discussion Sat, 12 May 2012 18:38:01 -0700 http://www.all-foreclosure.com/forums/read.php?3,5649,5682#msg-5682 http://www.all-foreclosure.com/forums/read.php?3,5649,5682#msg-5682
Have you spoken with BOA about your situation?

I would be proactive and start there.]]> steele in minnesota Foreclosure Discussion Sat, 12 May 2012 10:59:05 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5681#msg-5681 http://www.all-foreclosure.com/forums/read.php?3,5667,5681#msg-5681
I would think more likely that the docs would simply not address the issue.

Curious.

Steele]]> steele in minnesota Foreclosure Discussion Sat, 12 May 2012 10:22:51 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5680#msg-5680 http://www.all-foreclosure.com/forums/read.php?3,5667,5680#msg-5680
Foreclosure is not a quick process. They won't be appearing to throw you out on the street any time soon.

As NJ Dave suggested it won't hurt to see if the lender has additional options. But you have already used most of them. I also don't see a lot of hope in this situation.

Sorry.

Steele]]> steele in minnesota Foreclosure Discussion Sat, 12 May 2012 10:18:41 -0700 http://www.all-foreclosure.com/forums/read.php?3,5677,5679#msg-5679 http://www.all-foreclosure.com/forums/read.php?3,5677,5679#msg-5679
Again, we have a number of different interpretations on this. You might want to contact local attorneys who work in this field. Do not depend on national news stories for something like this. And be careful of scams that promise the world.

As you suggest, this is largely a stall tactic. Lenders will keep coming after a delinquent borrower. They may have to regroup but seldom are stopped.]]> steele in minnesota Foreclosure Discussion Sat, 12 May 2012 10:09:19 -0700 http://www.all-foreclosure.com/forums/read.php?3,5659,5678#msg-5678 http://www.all-foreclosure.com/forums/read.php?3,5659,5678#msg-5678
Compare this to the typical utility bill that will stay with/follow the user. Each state may be different on what stays with a property and what doesn't. Here is Minnesota, city water and sewer bills stay with the house just like real estate taxes but gas and electric, which are normally done by private providers, follow the user.]]> steele in minnesota Foreclosure Discussion Sat, 12 May 2012 10:02:20 -0700 http://www.all-foreclosure.com/forums/read.php?3,5677,5677#msg-5677 http://www.all-foreclosure.com/forums/read.php?3,5677,5677#msg-5677 jetliner Foreclosure Discussion Fri, 11 May 2012 20:02:06 -0700 http://www.all-foreclosure.com/forums/read.php?3,5659,5676#msg-5676 http://www.all-foreclosure.com/forums/read.php?3,5659,5676#msg-5676 floridaguy2321 Foreclosure Discussion Fri, 11 May 2012 11:51:13 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5675#msg-5675 http://www.all-foreclosure.com/forums/read.php?3,5667,5675#msg-5675 mommy25 Foreclosure Discussion Fri, 11 May 2012 10:37:40 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5674#msg-5674 http://www.all-foreclosure.com/forums/read.php?3,5667,5674#msg-5674
If you care to send (FAX/scan) to me the loan mod agreement, I would review it with respect to the "reaffirmation" language. If I have any question as to its meaning, I could have our in house counsel (my daughter) give it a look, too]]> NJDave Foreclosure Discussion Fri, 11 May 2012 10:26:59 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5673#msg-5673 http://www.all-foreclosure.com/forums/read.php?3,5667,5673#msg-5673 mommy25 Foreclosure Discussion Fri, 11 May 2012 10:03:14 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5672#msg-5672 http://www.all-foreclosure.com/forums/read.php?3,5667,5672#msg-5672 NJDave Foreclosure Discussion Fri, 11 May 2012 09:12:36 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5671#msg-5671 http://www.all-foreclosure.com/forums/read.php?3,5667,5671#msg-5671
They did reopen our case and are asking for a bunch of documentation. We need to return to them for underwriters to look at and see if there is anything they can do. She said it takes them 30 days to process it. They said if anything is going to happen then it needs to happen pretty fast. So that means we might hear back sometime in June.

I am not sure whether to sit tight or start looking.....or to move out and put the house up and get a possible short sale??

Thank you for your time; I really appreciate it.]]> mommy25 Foreclosure Discussion Fri, 11 May 2012 08:48:45 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5670#msg-5670 http://www.all-foreclosure.com/forums/read.php?3,5667,5670#msg-5670
There is no harm in asking the mortgagee for another workout, but it is under no obligation to offer additional relief. Don't agree to something which is unrealistic.

I would not be too optimistic about keeping the house.]]> NJDave Foreclosure Discussion Fri, 11 May 2012 08:37:10 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5669#msg-5669 http://www.all-foreclosure.com/forums/read.php?3,5667,5669#msg-5669
Every since my husband's job loss that led us to bankruptcy, we have not been able to reestablish our income that we had before. Our house payment from the loan modification is as low as what you would pay for an apartment or a rental. We live in a modest 4bdrm, 2000 sq ft home suitable for a family of 7. I have 5 children. My husband's work (2 jobs) has not been completely steady; we learned about 6 mos ago of a 30% decrease in his pay. His 2nd job is commission only and that isn't consistent and hard to budget and plan.

I have no problem leaving the house and finding another home. It's just that we would pay the same amt elsewhere and not get as much as we have here. My husband and I are not good at budgeting/finances so I want to know, based on our circumstances, what is the best financial decision? We just learned that my husband has some significant commissions coming in a couple of months; enough to pay the past due amount. Don;t know if it could happen before the foreclosure or not -- and not sure that's the best thing to do! We are upside down on the house and will never make a profit on the house. We have been here 12 years now and it needs fixed up and in need of some repair.

Thanks for any advice....]]> mommy25 Foreclosure Discussion Fri, 11 May 2012 07:21:57 -0700 http://www.all-foreclosure.com/forums/read.php?3,5667,5668#msg-5668 http://www.all-foreclosure.com/forums/read.php?3,5667,5668#msg-5668
Although a cat is said to have nine lives, a distressed borrower has but two or three. Although each scenario is different, the fact you keep running into difficulties suggests you cannot afford to keep that house. Perhaps its time to articulate and pursue new short and long term goals.]]> NJDave Foreclosure Discussion Fri, 11 May 2012 06:04:45 -0700