Speed up the foreclosure process?

[wilbur4321]

We've already left the old house, and stopped paying on it (it's about 45 days now). I hope to file for Ch7 next month, and don't want to keep it (even if we do a Ch13 for some reason, the house WILL go).

I don't like the idea of it sitting vacant. I don't want to get hit with tax bills, liability if someone gets hurt, nor see it trashed -- we put a lot of work into it and I'd like to see someone benefit from that.

We're an FHA loan in WA, FWIW, with no 2nd. Any hope for getting the bank to take it by the 60-day discharge, if not sooner (just not before we file)?

thx
--randy

[HHM]

You can always call them and offer a Deed in Lieu, since there is no second you have a pretty good shot at the bank accepting it, but otherwise, there is no way to speed up the foreclosure process.

[cindy02]

Wilbur4321, what made you move so soon?

[wees]

You should really call them, maybe there's things that they can pull to fasten up the closure. LOL. I wish I was like you. hehe..

[hnhlvr]

As long as your mortgage insurance is current, you do not have to worry about liability. We left our home in June (and quit paying our mortgage in May (on the first) June (on the second), but our insurance was paid up through Sept or Oct, so up until that point we were covered.

I'm not sure if the bank will take the house at 60 days, but even if they do, the house could sit empty for months or even a year. One home by me was put into foreclosure and nobody bid on it and the bank took it back and it's still sitting empty even after the bank lowered the price by $100,000!

For my home, it's been empty for 10 months and the trustee sale date has been changed a few times, so I've determined that regardless of what is said in writing, there isn't any way to predict what may happen and how the bank will proceed.

Best of luck.