Post your NOD samples

[debtmonster]

Would some of you mind typing in your notice of default letters on here so we can get an idea of what they look like?

I am wondering if I received a NOD and didn't know it was called an NOD. I want to know when the clock starts ticking.

So far I've been served with a summons for the Notice of Lis Pendens. Would this be considered an NOD? Would the NOD just be a letter in the mail saying I'm late or would there be some kind of bright colored nasty-gram taped to my front door?

I'm confused and maybe others on here behind on their mortgage can also be as well.

[plantlvr]

Good question! I'm pretty sure i haven't got one yet as CW still sends me a normal bill...A few months ago I thought I had gotten a NOD, a certified slip from the Post Office was in my mailbox. I had to go to the Post office to find out it was a damn calender from my garden club! i was so mad i sent the damn thing back!

[debtmonster]

I don't know if the letter I got from the attorney serving me is considered an NOD or not or does the NOD come later?

[fltoo]

NOD should come first and is non judicial. This starts the foreclosure process.

The lis penden is your notification of the lawsuit, judicial, usually sent out by a lawyer.

Finally comes the notice of sale at public auction. This one could take forever.

[debtmonster]

So the regular letters I got from the mortgage company must have been the NOD then, huh?

so what happens if they get a default judgment on me? What is the worst that can happen being that I will probably file Ch. 7 in July?

[fltoo]

Yes, you probably got the NOD before the LIS.

Honestly, not a damn thing to do but live in the house until you get the notice of sale in public auction. Could take 6 months, could take 18 months.
Mine is going on 20 months and I lived in a nice area of Tampa.

Just save and give all your paperwork to the attorney when you file, and he will take care of the foreclosure.

[debtmonster]

That will be sweet. I have to find a way to throttle my income down so I can pass the means test. That profit/loss statement will be fun. I gotta see if Quicken will do that. I gotta go get that software and try it.

[fltoo]

I have a tip for you. I think you said your business is small and run out of the house?

I always did an annual P&L, then did my taxes.

For the past two years, I skipped the P&L statement and went right to Turbo to do taxes. Gather up all your income and expenses, tally and separate them into categories....advertising, home office, utilities, etc.

Use the small business version of Turbo and it will walk you through all entries.

Turbo will spit out schedule C, profit and loss and then you can see what the profit or loss was. Good thing is, you can play around with the input and see the result.

[debtmonster]

I have a tip for you. I think you said your business is small and run out of the house?

I always did an annual P&L, then did my taxes.

For the past two years, I skipped the P&L statement and went right to Turbo to do taxes. Gather up all your income and expenses, tally and separate them into categories....advertising, home office, utilities, etc.

Use the small business version of Turbo and it will walk you through all entries.

Turbo will spit out schedule C, profit and loss and then you can see what the profit or loss was. Good thing is, you can play around with the input and see the result.

That's what I will have to do. I always file a Schedule C and write off a portion of my utilities and home-related expenses.

[myhearts07]

That's good to know. I do a Schedule C also, and I had a loss of $6k so I had no profit on paper. I wrote off everything that I could. This may be the one time that I am glad that I did write every expense I had off. The full amount and not cutting it in half to look like I made some money on paper.