341 Tuesday afternoon in MD

[ryan]

That is GREAT NEWS for you!...happy to hear it!

[debee]

Wow, that was a nice trustee! Glad it went so well so fast and that you can exempt your refund! Yay!

[chicagoannie]

Hi Bk - sorry you are sick, would've thought the BOOZE killed any germs! Great recap of your 341 - I love happy endings! I get to keep my tax refund too, what an IMMENSE relief...can't wait until Feb so I have a little cash again. Be good to yourself today and Happy Festivus!!!!

[oregonpilot]

BKlooker.
I am soooo glad that is over for you.
Welcome to that 60 day club.
Happy holidays and take care of yourself, good luck on getting the new job.

[Charlie777]

From what I've read, Maryland is a judicial foreclosure state, so they will have to go to court (backed up by the foreclosure fraud issues) and get a foreclosure order before they can start to evict you. You might be able to negotiate a forbearance period where they let you live in the house rent free in return for cooperating with the foreclosure.

[BKlooker]

Hi Charlie,

Yes we are a judicial foreclosure state. The governor actually just changed the laws about 2 years or so ago which protracted the foreclosure process here in my state. They have to wait a full 90 days late before beginning the process and sending out the NOF, and from there they STILL have to wait a full 45 days before they can push it to a courthouse and start the actual foreclosure/resale process. It will take them a few weeks to get a court date, and then from there, and they must serve you personally with the foreclosure filings they make with the court via courier for 2 attempts before sending it priority mail with return receipt. This can take a full 2 weeks.

From there, they MUST wait an ADDITIONAL 45 days AFTER filing with the court before they can start the sale of the property. Once they start, they have to list it for 3 straight weeks in the paper before the sale. Then, assuming they sell it on the first try (not at all a guarantee with the backlog…most of them take a few tries to sell off, and it's an additional month or more for everytime they don't sell it before the next retry), you then get at least 30 more days to vacate the premises from there.

So, at an absolute minimum, assuming the lender moves at a fast pace, I have at least 180 days from the first missed payment before I have to move, assuming the house resells fast and I do nothing, which puts us at the end of April, early May. That gives me through the winter time to enjoy living here rent free and saving up some money, which is excellent. I’ll be looking for a place to move and putting a deposit down sometime in March in all likelihood, just so I can jump ship fast if I need to. There are a billion complexes within 1 square mile of my house who compete for renters, so prices are good and I don’t think it will be too hard.

In addition, it’s easy to drag this process out. I spoke with my lawyer today….he says once the process starts, I can pay him as little as a grand or so, and they can likely keep me in the house an additional 3-4 months at least (likely longer) by filing objections at certain points in time. In Maryland because of the new laws, the lenders have to cross every single t and dot every single i, or else the court can throw it out and the lender has to refile and start over again with the 45 days plus 3 weeks to restart the sale process, and that’s after a 30 day delay from when the case gets dismissed. In addition, in MD the homeowner has the right to mediation, so that can tack on an additional 2-3 months just by paying the $50 fee and filing a document to request mediation once the foreclosure starts. The reality is I likely have well into the summer before I really NEED to leave.

If they make even a small mistake in the documents filed with the court, it’s easy to get it dismissed. They effectively already have…they forgot to include the second mortgage component with the relief of stay filing…my lawyer is starting to save these details for ammo.

My lawyer says my lenders are idiots for spending money to file a relief of stay. Because November was my first missed payment, they still can’t do ANYTHING legally until the first day of February, and even there they have to wait 45 days from there to get it into court…I’ll be discharged long before then….so they effectively just wasted $500 on a lawyer and a filing for nothing…not the brightest bulbs.

[BKlooker]

Update on my case:
I visited with my lawyer today. They updated my file to exempt my tax refund and filed it this afternoon with the court successfully (they did it totally for free, since the trustee requested it). In addition, the trustee has already filed a no distribution on my case, and she says she won’t stop the relief of stay if they want it, so that is that.

I am sooooo glad to have the credit card debt off of my back, coupled with the house no longer in issue as far as me needing to short sale it….to know I have a full year essentially to live debt free before I have to start paying down my student loans is a wonderful feeling too. I think I will be able to buy a new car (a used, refurbished car I should say) outright without need for a loan by the end of next year, depending on just how long I can stay in my house before moving, thanks to being able to keep my tax refund.

After I got back from my lawyers, I slept all afternoon to try and kick this cold that’s going around. I am feeling a little bit better now….got a ton of presents to wrap before heading to my parent’s house tomorrow.

I wish everyone on here a very happy holiday weekend! Santa definitely came by early for me this year, so I have a lot to be thankful for

[smoothdaddy]

Glad to hear that. Happy holidays to you as well.

[oregonpilot]

Update on my case:
I wish everyone on here a very happy holiday weekend! Santa definitely came by early for me this year, so I have a lot to be thankful for

That is soooo aweome bk. Sounds like some extra sleep helped...i'm so happy for you!!!!!
Have a GREAT holiday!!!
So many of us have alot to be thankful. for...I'm still so happy i can hardly stand myself. hahahahahaha