This forum allows posting of questions without joining, but if youd also like to receive e-mail notification of responses to your post while also protecting your email address, you should Create a New Profile Its quick and easy. Weve also added a captcha to slow down spam posts, logged in users dont have to deal with the captcha. If you are asking a question about the foreclosure process, it is helpful if you include the state the property is located in, whether your loan is a first or second loan and the lender/servicers name. http://www.all-foreclosure.com/forums/list.php?3 Fri, 20 Nov 2009 20:33:16 -0800 Phorum 5.2.12a http://www.all-foreclosure.com/forums/read.php?3,1205,1205#msg-1205 http://www.all-foreclosure.com/forums/read.php?3,1205,1205#msg-1205 williamsmth22 Foreclosure Discussion Fri, 20 Nov 2009 10:29:26 -0800 http://www.all-foreclosure.com/forums/read.php?3,1203,1203#msg-1203 http://www.all-foreclosure.com/forums/read.php?3,1203,1203#msg-1203 N. Orm Foreclosure Discussion Fri, 20 Nov 2009 15:15:25 -0800 http://www.all-foreclosure.com/forums/read.php?3,1202,1202#msg-1202 http://www.all-foreclosure.com/forums/read.php?3,1202,1202#msg-1202 INSIGHT Foreclosure Discussion Thu, 19 Nov 2009 15:52:10 -0800 http://www.all-foreclosure.com/forums/read.php?3,1196,1196#msg-1196 http://www.all-foreclosure.com/forums/read.php?3,1196,1196#msg-1196 williamsmth22 Foreclosure Discussion Fri, 20 Nov 2009 09:17:29 -0800 http://www.all-foreclosure.com/forums/read.php?3,1186,1186#msg-1186 http://www.all-foreclosure.com/forums/read.php?3,1186,1186#msg-1186 Rod Foreclosure Discussion Wed, 18 Nov 2009 13:53:04 -0800 http://www.all-foreclosure.com/forums/read.php?3,1185,1185#msg-1185 http://www.all-foreclosure.com/forums/read.php?3,1185,1185#msg-1185 EDram Foreclosure Discussion Wed, 18 Nov 2009 14:43:00 -0800 http://www.all-foreclosure.com/forums/read.php?3,1180,1180#msg-1180 http://www.all-foreclosure.com/forums/read.php?3,1180,1180#msg-1180 conradtherealtor Foreclosure Discussion Wed, 18 Nov 2009 14:39:00 -0800 http://www.all-foreclosure.com/forums/read.php?3,1170,1170#msg-1170 http://www.all-foreclosure.com/forums/read.php?3,1170,1170#msg-1170
The arm's are out of control, the property taxes keep going up, the repairs are eating me alive and November/December are historicaly bad months for collection.

All that to say this, I am thinking of giving them back. I have lost over 20k the last 3 years and can't keep this up. My wife and I both work 2 jobs just to stay afloat.

What am I looking at? Will they come after the difference or just write it off? Can they come after my personal residence which has very little equity? The 5th rental? What about taxes? How is my mid 700 credit rating going to look with 4 foreclosures? How many times is my phone going to ring and for how long? How much advance notice should I give the tenants? Sorry for all of the questions.

These properties are killing my family. I am grateful for any and all help.]]> Stewball Foreclosure Discussion Fri, 20 Nov 2009 09:25:28 -0800 http://www.all-foreclosure.com/forums/read.php?3,1166,1166#msg-1166 http://www.all-foreclosure.com/forums/read.php?3,1166,1166#msg-1166
is there any merit to that line of thought or does it really matter nowadays?? tia!]]> karen h. Foreclosure Discussion Wed, 18 Nov 2009 08:14:49 -0800 http://www.all-foreclosure.com/forums/read.php?3,1164,1164#msg-1164 http://www.all-foreclosure.com/forums/read.php?3,1164,1164#msg-1164
Thanks,

John and Kandice]]> John Foreclosure Discussion Wed, 18 Nov 2009 10:46:29 -0800 http://www.all-foreclosure.com/forums/read.php?3,1156,1156#msg-1156 http://www.all-foreclosure.com/forums/read.php?3,1156,1156#msg-1156 Tony_1234 Foreclosure Discussion Thu, 19 Nov 2009 13:37:22 -0800 http://www.all-foreclosure.com/forums/read.php?3,1150,1150#msg-1150 http://www.all-foreclosure.com/forums/read.php?3,1150,1150#msg-1150 tina35 Foreclosure Discussion Mon, 16 Nov 2009 06:37:30 -0800 http://www.all-foreclosure.com/forums/read.php?3,1149,1149#msg-1149 http://www.all-foreclosure.com/forums/read.php?3,1149,1149#msg-1149 N. Orm Foreclosure Discussion Sun, 15 Nov 2009 12:58:53 -0800 http://www.all-foreclosure.com/forums/read.php?3,1146,1146#msg-1146 http://www.all-foreclosure.com/forums/read.php?3,1146,1146#msg-1146
My question is: What type of tax does IRS apply? Is it ordinary income or capital gain tax?

Thank you]]> Matt Foreclosure Discussion Mon, 16 Nov 2009 11:50:33 -0800 http://www.all-foreclosure.com/forums/read.php?3,1139,1139#msg-1139 http://www.all-foreclosure.com/forums/read.php?3,1139,1139#msg-1139 William Richmond Foreclosure Discussion Wed, 18 Nov 2009 18:43:22 -0800 http://www.all-foreclosure.com/forums/read.php?3,1135,1135#msg-1135 http://www.all-foreclosure.com/forums/read.php?3,1135,1135#msg-1135
I got behind on my mortgage because my credit card bill was up to 24%. They have now got me down to 2% so that % is locked in on my cc card.

I have now found myself around 3 months late on my mortgage.
I have rented out my home, but have used the renters $ to get ahead on other things.

(by the way I am a San Diego resident)

I wrote into my mortgage company and said I am renting out the home and I am not living
in it. Not knowing I have to "live/reside" in the home for them to remodify the loan. I tried
backpeddling and told them I do live in the home and rent out the rooms, they didn't go for it.

So my next step it to speak to HUD. Now my question to you is, what do I tell them.
I live in the home, I don't live in the home, etc.. It's like you tell the truth and things backfire
on me.

The renters pay me $2,000 a month (which is right around what the mortgage is).
I am upside down on my home and I put $100,000 down for it, and don't want to lose
that.
I want to re-modify my load where I can get locked into a good % and make progess on paying
off my home. I have a load where the % can go up and down.

Again, stupid me when I wrote my hardship letter that I said I don't live in my home (which I don't)
but, then they said "send us a utility bill under your name", but all the bills are under the renters name.]]> Mike Stevens Foreclosure Discussion Wed, 18 Nov 2009 10:23:03 -0800 http://www.all-foreclosure.com/forums/read.php?3,1126,1126#msg-1126 http://www.all-foreclosure.com/forums/read.php?3,1126,1126#msg-1126 cc Foreclosure Discussion Thu, 12 Nov 2009 18:58:11 -0800 http://www.all-foreclosure.com/forums/read.php?3,1123,1123#msg-1123 http://www.all-foreclosure.com/forums/read.php?3,1123,1123#msg-1123 I have a home, in NY, in the foreclosure process. A tenant is renting out the home. The auction is scheduled for this monday. A rep from Fannie Mae Bank visited the tenant today and alledgedly told him the bank has recently taken title and he must leave. I advised him not to leave unless he has an eviction notice from the sheriff to vacate premises.
My goals:
- I at least want the tenant to be able to stay at the house through the holidays
- I would like to see the bank pay the tenant cash, I've heard $2500 has been given from the bank to the tenant to vacate premises. (Unfortunately, the bank may have paid my former tenant who left in Sept 2009, I have no way of knowing if this occurred)


What can I do to help keep the tenant on the premises as long as possible?]]> RG Foreclosure Discussion Thu, 12 Nov 2009 11:59:09 -0800 http://www.all-foreclosure.com/forums/read.php?3,1116,1116#msg-1116 http://www.all-foreclosure.com/forums/read.php?3,1116,1116#msg-1116 I did not write it down and can't remember what it should say - can anyone please help me!
Thanks so much!]]> Sandra Foreclosure Discussion Thu, 12 Nov 2009 09:18:17 -0800 http://www.all-foreclosure.com/forums/read.php?3,1105,1105#msg-1105 http://www.all-foreclosure.com/forums/read.php?3,1105,1105#msg-1105 I have 1st mortgage 420k,
2nd mortage 60k
house now worth approx 375k

I have had a job offer in my native Australia (im not a US Citizen)

Im think thing of handing back the keys to the bank and walking away


do you think they will find me if I move back to Perth?
I wont have to worry about my credit report as I wont use either my US credit report OR use my US SS #

what are the odds I'll be found?]]> Brad Sellers Foreclosure Discussion Fri, 13 Nov 2009 00:02:57 -0800 http://www.all-foreclosure.com/forums/read.php?3,1100,1100#msg-1100 http://www.all-foreclosure.com/forums/read.php?3,1100,1100#msg-1100
My business is in the process of folding and my wife has also lost her job. Although we are both actively looking for current jobs we are getting nowhere fast.

Our California home which is valued anywhere from 150-200K less than purchase price is no longer affordable. We are reviewing the financial analysis forms from the banks and can complete most of the paperwork. However, we do have a problem with one of the forms, the dreaded 4506-T. Tax forms for the last 3 years were never filed (never let friends handle taxes). Yes that was stupid on our part, but what is done is done. Anybody know the consequences? The way I see it is that the home just might go to foreclosure.]]> Mr. Smith Foreclosure Discussion Wed, 18 Nov 2009 11:03:48 -0800 http://www.all-foreclosure.com/forums/read.php?3,1088,1088#msg-1088 http://www.all-foreclosure.com/forums/read.php?3,1088,1088#msg-1088 TiffanyC Foreclosure Discussion Wed, 11 Nov 2009 06:41:15 -0800 http://www.all-foreclosure.com/forums/read.php?3,1066,1066#msg-1066 http://www.all-foreclosure.com/forums/read.php?3,1066,1066#msg-1066 now it's crappy as hell ..but my question is, was/is this consider predatory lending?? not sure how our loan was approved]]> Jonny Foreclosure Discussion Thu, 12 Nov 2009 09:32:28 -0800 http://www.all-foreclosure.com/forums/read.php?3,1062,1062#msg-1062 http://www.all-foreclosure.com/forums/read.php?3,1062,1062#msg-1062 Home in Vancouver, WA. I co-own home, he lives in the home, I live in Vegas.
He stopped making payments months ago, and I can't afford to make both. We are both on title and the first mortgage. I took out a Home equity line of credit (Bank of America) for our mutual benefit, but it is solely in my name, secured by a deed of trust on the home.
Home = approx $180-$200k, 1st = $133k, HELOC = $47k.

My question: if the home gets foreclosed on, and the line of credit doesn't get full paid off, am I still obligated to that debt? (I own another home in Seattle and one in Vegas, so I can't really just declare bankruptcy.)
I am attempting to get sole ownership of the Vancouver house, so that I can rehab it and get it rented out until there is some equity to sell it, but the co-owner lives there and won't sign it over to me - I am hiring an attorney, but thinking it might just be better to let it go, if the line of credit debt goes away with any foreclosure - as we're 7 months behind already, and my credit is pretty much shot already.
Please advise... Thanks so much.]]> Berk Foreclosure Discussion Tue, 10 Nov 2009 12:39:10 -0800 http://www.all-foreclosure.com/forums/read.php?3,1051,1051#msg-1051 http://www.all-foreclosure.com/forums/read.php?3,1051,1051#msg-1051 jairr Foreclosure Discussion Wed, 18 Nov 2009 11:20:03 -0800 http://www.all-foreclosure.com/forums/read.php?3,1049,1049#msg-1049 http://www.all-foreclosure.com/forums/read.php?3,1049,1049#msg-1049 jairr Foreclosure Discussion Wed, 18 Nov 2009 13:02:30 -0800 http://www.all-foreclosure.com/forums/read.php?3,1040,1040#msg-1040 http://www.all-foreclosure.com/forums/read.php?3,1040,1040#msg-1040 owes about that much on mortgage after taking 150 out of home and refinancing it a few years back when it was worth 425k
he wants to just hand the keys to the bank and walk,
does not care about his credit has another house
he and wife both work
pays almost 3k a month for mortgage and taxes/insurance etc
is he making a mistake beside ruining his credit for the next 7 years

please advise
thanks]]> uncle chuckee Foreclosure Discussion Mon, 09 Nov 2009 13:25:57 -0800 http://www.all-foreclosure.com/forums/read.php?3,1030,1030#msg-1030 http://www.all-foreclosure.com/forums/read.php?3,1030,1030#msg-1030
The City Code Enforcement is sending me citations and fines on the property for vandalism done after we left. I get the notices at my new address via mail.The fines will go up to 100k, according to the City's Order issued Sept. 2009 to me. The Code manger said that eventually there will be a tax lien placed on the property and a judicial foreclosure. When ever that will be ? - I wonder.

I have been given the run-around by B of A, Countrywide and Reconrtrust for six months- since the City began getting on my case. TALKED TO SO MANY PEOPLE, E-MAILED, WROTE, FAXED ! A lawyer said it would cost $6 just to file suit. I have two complaints pending with the Comptroller of the Currency as of now.

Any ideas on how to force the foreclosure here in Riverside , CA to be recorded? Ideas welcome ! I plan on picketing in front of the B of A on the day after Thanksgiving if this is not resolved .]]> CJALTER Foreclosure Discussion Fri, 06 Nov 2009 09:56:21 -0800 http://www.all-foreclosure.com/forums/read.php?3,1027,1027#msg-1027 http://www.all-foreclosure.com/forums/read.php?3,1027,1027#msg-1027 dnnsma5 Foreclosure Discussion Fri, 06 Nov 2009 16:08:23 -0800 http://www.all-foreclosure.com/forums/read.php?3,1023,1023#msg-1023 http://www.all-foreclosure.com/forums/read.php?3,1023,1023#msg-1023 Juskal Foreclosure Discussion Thu, 05 Nov 2009 22:19:12 -0800