Just Checking?

[screentest]

Hello All,

I am now 41 days post bar date and still no discharge. I did however receive a notice of "motion for relief of stay" from our mortgage lender. They are apparently in a hurry to get the foreclosure started and I guess they are tired of waiting for the discharge, as I am.

They have set a hearing for December14th. Is there anything I need to be concerned about here in relation to our case or discharge? Does this start anything new?

I am not concerned with the foreclosure process I just want this case to get officially discharged and closed without any more trouble.

Thanks
ST

[screentest]

Bueller...........Bueller...........Bueller....... .........Anyone............?

[tcreegan]

Hi screentest,

You don't need to attend the hearing, the motion is approved and the lender proceeds w/ the foreclosure. This shouldn't affect your discharge.

Some courts seem to drag their feet on getting the discharge entered. Check out the sticky on discharge delay.

Hope you get discharged sooner than later!

Tom in Colo

[screentest]

Thanks Tom. I hope so too. So very slow out here in SoCal with all these filings piling up.

Always appreciated.

ST

[frogger]

Mortgage holders in my area normally go for a relief of stay in order to start foreclosures. While I hear of other parts of the country having slow foreclosures, that's not the case here.

[screentest]

Hi Frogger,

There is a major back-log of foreclosures in my area as well; however, I am lucky enough to have One West Bank and they are a foreclosure mill. They help no one because of their "shared loss agreement" with the FDIC. Doesn't surprise me they want to get moving on my loan as they stand to make nearly 370k by foreclosing on me.

I plan to hold them off as long as they can however I know the inevitably outcome.
Oh well...complete fresh start.

I still love your advice......and your screen picture!

ST

[bk2009]

They're going to make $370k on you? Does that mean you have equity in the house? If that's the case, the trustee might be interested in selling the house themselves to distribute to everyone and not just let them have the cash.

[screentest]

Hi Bk2009,

No...no equity. We owe 670K after fees, taxes etc. on the house and it appraises at 285K. One West Bank purchased our house from the FDIC and our former bank once it was closed down by the FDIC. One West purchased our note for 250K. One West Bank then enters into a "shared loss agreement" with the FDIC and receives 93% of the Original note once foreclosure is complete. Its a scam on grand proportions and they DO NOT participate in any government run assistance program such as HAMP etc. Once a bank is closed down by the FDIC you'll notice One West Bank is granted all the assets.

Incidentally One West Bank, (Formerly Indymac) was formed by George Soros and Michale Dell to eat up troubled assets such as mine for a HUGE, HUGE profit!
Not to get political but Soros and Dell are huge supporters of this current administration....go figure. It's all a complete scam with a smile!

ST

[screentest]

Here is a reference to the OWB fraud.

http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/

[tcreegan]

...given your experience w/ FDIC and One West Bank....your little pic of ol' Burns there seems very appropriate!!

[screentest]

...given your experience w/ FDIC and One West Bank....your little pic of ol' Burns there seems very appropriate!!

LOL.....Exactly. Thats how I view my(ours) adversaries.

ST

[helpme2010]

screentest, being that my loan is serviced by Indymac, I am scared they will try to accelerate my foreclosure as well.

Unlike what the article said, I did get 2 loan modifications through Indymac prior to filing BK (I defaulted on my final payment of my second loan mod - they had jacked up the 2nd loan mod by 500 a month, then showed what my payment would be after the 2nd loan mod was over which would be another 500+, pushing my payment to a little bit higher than before the loan mods began).

I also received my NOD and rights to sell my house by the trustees corp that Indymac put my loan through, so now I am really curious as to whether my loan will continue from the previous NOD or whether the NOD resets giving me more time.

I am pushing for as much time as possible to stay in my house so I can first find a job, then find a place to rent. So I have no idea what my time table will be for foreclosure to push me out of my house.

[helpme2010]

I am now 41 days post bar date and still no discharge. I did however receive a notice of "motion for relief of stay" from our mortgage lender. They are apparently in a hurry to get the foreclosure started and I guess they are tired of waiting for the discharge, as I am.

To make a long story short, I am over 60 days past the 341 with no discharge yet (likely the end of December). So I am hoping Indymac doesn't try to file a motion for relief of stay to accelerate the foreclosure. I had no idea a mortgage company could file this (I thought foreclosure had to stay on hold until the bk was discharged). This really sucks!!!

[btbeme]

Mine in Phoenix (sometimes referred to as Los Angeles, Jr.) took 22 days after my 60, and finally discharged this morning. Considering the backlog of filings, the holidays, and the crushing pressure being placed on the state and federal workers who are expected to grind this stuff out daily, I feel fortunate to have spent only 82 days from my 341 to getting relief. I think the only good part about being a state worker in the BK office is guaranteed job security for the foreseeable future. These poor folks are getting buried alive.

I know that Murrieta and Riverside County in general are amongst the highest in the nation for both BK and foreclosure. As a former mortgage officer, I also know that IndyMac played fast and loose with files so it does not surprise me to hear that the people picking up the pieces are trying to put this behind them as quickly as possible.

The California Collapse will continue. Others will follow. My greatest concern will be finding a rental property that is not in distress - who wants to rent only to come home 2 months later to find a vacate notice on the front door?

Oh well...let the banks buy toxic assets. I told mine to go piss up a rope a long time ago, but it took a Ch 7 discharge to get their attention and now they want to play ball.