Stalling Tactics to Stay in House Longer after BK????

[drowning123]

It's when you doze off to sleep. LOL.

[ccsjoe]

helpme, here's a thread that has a lot of detail about the sequence of events in CA. In addition yes, sending the signed loan mod papers back might help stretch things out, but you need to be careful that it doesn't re-obligate you to the loan itself. I presume you elected to surrender, not reaff. If you sign new loan related papers post filing date those would not be covered by the discharge. Please talk to your attorney about this point. You may end up with a nasty 1099 surprise or worse.

http://www.bkforum.com/showthread.php?63621-Judicial-vs.-non-Judicial-states

[helpme2010]

Thanks ccsjoe, I am going to look at your link right now. I am going to ask my attorney about the loan mod idea after the discharge as well. He did say he can help me with staying in the house longer. I want to do my homework before hiring him for this process as well (just in case there isn't much he can do).

I did surrender the house in chapter 7. You make a good point that I don't want to reobligate myself to a new loan. If I surrender my house, I am thinking that the loan modification docs will be void as the loan mod docs should apply to a person that owns the home and I should no longer own the home after discharge, plus, I am not going to make any payments, just use this to stall the process of foreclosure while they review my loan mod docs.

Has anyone tried this idea out yet???

helpme, here's a thread that has a lot of detail about the sequence of events in CA. In addition yes, sending the signed loan mod papers back might help stretch things out, but you need to be careful that it doesn't re-obligate you to the loan itself. I presume you elected to surrender, not reaff. If you sign new loan related papers post filing date those would not be covered by the discharge. Please talk to your attorney about this point. You may end up with a nasty 1099 surprise or worse.

http://www.bkforum.com/showthread.ph...udicial-states

[ccsjoe]

If I surrender my house, I am thinking that the loan modification docs will be void as the loan mod docs should apply to a person that owns the home and I should no longer own the home after discharge,

WRONG!!!!! You do own the home, your name is still on title. The lender is discharged from its legal recourse to collect on the previous loan from you, everything else remains the same!!! Your name is still on title until a foreclosure or other deed transfer event takes place and gets recorded. The debt itself NEVER goes away, only the lender's ability to collect on it.

[helpme2010]

ccsjoe, I appreciate you putting up this link and can see you have done this before with other members on this board (so again, I thank you for repeating yourself as it is difficult to find every thread like this doing a search on this board).

What you are writing here is a bit scary as looking at my timeline below, the worst case scenario could be:

Nov 15th - Discharge
Nov 18th? - Notice of Sale with 21 days
December 7th - Auction with sale
December 10th - get the hell out of the house

Now I understand this is worst case scenario assuming the trustee files immediately.

I am guessing there are a few more delays in there and there will be some more time, but this could be December to January that I have to be moved out by and I was thinking I had a lot more time than that.

This makes me think again about submitting the loan modification doc back to the trustees to stall this process immediately after the discharge.

So from what I am seeing, I need to stall quickly before that notice of sale comes up which will be the very next item coming my way after the BK discharges.

[ccsjoe]

Well, you never did get clarification on whether the first loan mod you successfully completed reset your foreclosure process. Your attorney should answer that for you. Additionally, yes, you are assuming the lender will be extremely efficient. Since you do have an attorney, run through the consequences of the different actioons you can take as well as possible outcomes.
My guess, and this is a GUESS, since you successfully completed a loan mod already, your foreclosure has been reset-for lack of better term. After your first mod, you did not get any additional NOD's or anything else right? Also, check your county recorder to see if your property's deed has been assigned from lender to a trustee (servicer) recently. This should be a good indication of whether they are getting ready or not. Of course, lenders assign deeds to trustees and sub trustees many times simply because they are no longer servicing the loan themselves and have transferred it to a third party, not intending to foreclose. But if your payment instructions have not changed and there is a recent assignment, this could be a heads up.

[helpme2010]

ccsjoe, you are correct, I never did verify if the first loan mod reset my NOD (that will truly rock if it did, buying me several months which I could really use).

I will consult my attorney and pay for his additional fees to go over timetables and consequences of various actions taken when discharge completes.

When you mention checking the county recorder about if my loan was transfered to a trustee recently, it was previously transfered to a trustee and that trustee was the one sending me loan mod options and they even sent 2 loan mod applications through my attorney during my BK, which may mean they aren't in as much of a hurry to get rid of me as I think they are.

My plan would be to find a job and then rent a house. The house would be closer to my job and family as well. The job would help me meet the credit requirements easier and ensure I can make the rent payments easier as well. That is why I want to stall for a little longer.

Well, you never did get clarification on whether the first loan mod you successfully completed reset your foreclosure process. Your attorney should answer that for you. Additionally, yes, you are assuming the lender will be extremely efficient. Since you do have an attorney, run through the consequences of the different actioons you can take as well as possible outcomes.
My guess, and this is a GUESS, since you successfully completed a loan mod already, your foreclosure has been reset-for lack of better term. After your first mod, you did not get any additional NOD's or anything else right? Also, check your county recorder to see if your property's deed has been assigned from lender to a trustee (servicer) recently. This should be a good indication of whether they are getting ready or not. Of course, lenders assign deeds to trustees and sub trustees many times simply because they are no longer servicing the loan themselves and have transferred it to a third party, not intending to foreclose. But if your payment instructions have not changed and there is a recent assignment, this could be a heads up.

[ccsjoe]

ccsjoe, you are correct, I never did verify if the first loan mod reset my NOD (that will truly rock if it did, buying me several months which I could really use).

I will consult my attorney and pay for his additional fees to go over timetables and consequences of various actions taken when discharge completes.

Good, just want to make sure you cover your bases, even if it costs you a little more. Better safe than sorry when dealing with a house and needing to extend options.

[helpme2010]

My attorney emailed me back and thinks I won't be discharged for at least 60 more days (placing it in the mid to end of December). So once this happens we can move from there and I will share the advice I get from him.

Any other ideas, please post up.

[helpme2010]

I wanted to bring this thread back to the top again to see if any additional ideas or suggestions come up.

[tobee43]

i'm only going to go out on a limb here and say your loan mod did not re jump the foreclosure process....i'm gathering this from others that had or have began or were in the process of the modification.

joe has pointed out that the civil codes on this out in calif are quite clear...now exactly how fast they are moving is anyone's guess in the foreclosure climate...if your nod has been rec'd you can always go in and ask the judge for an extension...or joe...is that simply out of the question in calif...i know in florida and nj once you rec the nod you can go in and get the time extended from the judge.....since they really do not want people thrown out on the street...

the other factor here is...many question simply cannot be answered because no has the clear cut written down in blood answers as yet. this is certainly and i am being redundant when i say...we are in uncharted waters. there is simply no history to repeat itself here.

i do hope there is a definitive answer somewhere out there for you...i have a few questions myself i keep posing and there just are no answers yet.

[ccsjoe]

i'm only going to go out on a limb here and say your loan mod did not re jump the foreclosure process....i'm gathering this from others that had or have began or were in the process of the modification.

tobee, because CA is non-judicial, since OP successfully completed a loan mod program, he would have reinstated the loan as the mod would have addressed delinquent balances, hence the possibility of "resetting" the clock. OP needs to get clarification on this from a CA Real Estate or Foreclosure attorney.

joe has pointed out that the civil codes on this out in calif are quite clear...now exactly how fast they are moving is anyone's guess in the foreclosure climate...if your nod has been rec'd you can always go in and ask the judge for an extension...or joe...is that simply out of the question in calif...i know in florida and nj once you rec the nod you can go in and get the time extended from the judge.....since they really do not want people thrown out on the street.

No asking judge for extension in CA since foreclosures are non-judicial; hence no judge involved.

[tobee43]

tobee, because CA is non-judicial, since OP successfully completed a loan mod program, he would have reinstated the loan as the mod would have addressed delinquent balances, hence the possibility of "resetting" the clock. OP needs to get clarification on this from a CA Real Estate or Foreclosure attorney.




No asking judge for extension in CA since foreclosures are non-judicial; hence no judge involved.

yes, and of course i know the difference but am NOT only brain dead.... i just can't grasp it.....i mean what are they doing in california...throwing them out in the streets....who is it that controls the rate or speed of the eviction after the nod is rec'd in the non-judicial states??

[ccsjoe]

....who is it that controls the rate or speed of the eviction after the nod is rec'd in the non-judicial states??

Civil code statutes stipulate minimum time requirements, e.g. time from NOD to Notice of Trustee Sale must not be less than 60 days, Notice of Trustee Sale to actual sale date must not be less than 21 days. As far as eviction, to quote your words directly, those can not proceed until the sale happens (foreclosure). Once it happens, you as the former homeowner can get served with a 3 day notice. If you refuse to leave, new owner must file an Unlawful Detainer against you (eviction lawsuit), get you properly served, provide you with the statutory 30 days to respond, and assuming you don't respond it'll take approx. a week for new owner to get judgement. Then judgement must be taken to Sheriff, who will visit you, give you 3 days to vacate before forcefully removing you.

[tobee43]

Civil code statutes stipulate minimum time requirements, e.g. time from NOD to Notice of Trustee Sale must not be less than 60 days, Notice of Trustee Sale to actual sale date must not be less than 21 days. As far as eviction, to quote your words directly, those can not proceed until the sale happens (foreclosure). Once it happens, you as the former homeowner can get served with a 3 day notice. If you refuse to leave, new owner must file an Unlawful Detainer against you (eviction lawsuit), get you properly served, provide you with the statutory 30 days to respond, and assuming you don't respond it'll take approx. a week for new owner to get judgement. Then judgement must be taken to Sheriff, who will visit you, give you 3 days to vacate before forcefully removing you.

thank you...that should have explain the process for the non-judicial states in as much as "time lines"...or at least a basis for what they should be as far as the civil code dictates...

i suppose this is why we here so much about squatters now in calif....makes it perfectly clear now!...

hate to ask you joe...but can you blog your response since this really comes up so much?????