Got a Letter from Lender's Attorney.....

[myhearts07]

So I got the letter from the attorney today that is asking for a judgment of default against us because we did not respond to the complaint. Our attorney said that we didn't have too and I guess he said that because my husband told him that we were not keeping the house. Anyhow, on April 6, the lender's attorney is requesting a motion to dismiss and enter a judgment of foreclosure and sale and move for the entry of default against us. Can anyone explain what that means?

Also, if this judgment is entered and motion to dismiss is approved, we have until Sept. 22, 2009 to redeem the property, 3 weeks for the published sheriff's sale, and then what? We have to go?

Hubby just filed BK last week, and it was filed with the courts today. Will this buy us some time with this foreclosure and if so, how much time?

Thanks

Hearts

[kimba251]

I don't know but I am also trying to understand how this all works too.

I can take this to pm if you want but can you tell me a few things so I have an idea how this works. We will miss our first payment this April. Can you give me an idea how long until I get that letter that you are talking about with the date of Sept. I was hoping we could stay here and save money until next year. We are in Massachusetts which is a judicial state.

Sorry for the quaestions and no answers it's just our bankruptcy is over and we are deciding to walk away after the fact so we don't have an attorney anymore.

THanks I really appreciate it

[myhearts07]

We did not get a letter of default until we were 5 months behind on the mtg. They usually start at 120 days of non-payment from what I read. So you are not even in the process of foreclosure yet for a few months unless your state moves pretty quickly with them or your lender really pushes the issue but they still have to do everything by the book and by the law. check out this website and you should have some more insight. Hope this helps... http://www.foreclosurelaw.org/Massac...losure_Law.htm

I can say we have been blessed to be able to be here as long as we have. We have not made a payment since Sept 08., got served the complaint to foreclose on February 21, 2009 and now have court on April 6th. We will see.

Hearts

[StartingOver08]

Hearts, are you both on the mtg? If your husband filed BK today (it only counts when it is with the courts) then it should buy you some time - at least until the lender/servicer goes in to lift the stay. Once the automatic stay is lifted, then the foreclosure can start where it was left off.

[myhearts07]

Hey SO8, no we are not both on the mtg. Hubby and our daughter are both on the mortgage. He is not planning to reaffirm the house and once that happens I am sure they will go after our daughter and she will have to file Bk because she can't make that payment and her credit is going to be jacked up too. But we have no control over that. WE are doing all the stall tactics that we can to buy some time to save before we have to go, so tomorrow I go to the courts to file a motion for the lender to produce the note. Hopefully that works and I am talking with an organization here in IL that has had much success in saving homes in foreclosure and they are legit because the Clerk of the Circuit Court supports them and advocates with them. So maybe they can help. Maybe with all the stalling and proving having to take place, we will get time to save and find a new place. I do wonder if we can save $20K if the lender would be willing to work with us regarding a loan mod?

Thanks

Hearts

[kimba251]

THanks so much, do you know if your mortgage has the "power of sale" clause? Ours does, I just located it. Does that mean it will go ALOT quicker? I ahve 2 young kids and don't want to end up homeless because we thought we had more time.

[myhearts07]

kimba,

i don't know. What paperwork did you find that in?

Hearts

[StartingOver08]

Look at your note and look at your mortgage - the bank remedies will be in the note and mortgage.

[myhearts07]

I did see that on there, but who is considered the "secretary"? This is making my stomach hurt. Can the lender request that the stay be lifted once they receive notification that the borrower is in bankruptcy?

[ShouldWeFile]

Hopefully that works and I am talking with an organization here in IL that has had much success in saving homes in foreclosure and they are legit because the Clerk of the Circuit Court supports them and advocates with them.

Sorry to interrupt the thread - could you possibly post more info about the organization you are reffering to above?

Thank you in advance.

[myhearts07]

No problem. We are all on here looking for help. The organization is Action Now. They are out of the ILLINOIS. Their number is 312-676-4280 website: www.actionnow.org.
I am supposed to get a call at 11:30 cst this morning and I will post what they tell me.

Hearts

[myhearts07]

UPDATE.... Just talked to someone from Action Now. They try and help you stay in your home by contacting your lender via a housing counselor and when you have to go to court, they give you a letter to give to the judge and attorney to help stall the whole foreclosure procedure while they are working on your case to get the foreclosure rescinded and you into some kind of repayment or workout plan that is actually feasible for you. There is a monthly membership fee of $10 that helps with costs, and that is it. Sounds like they may be able to at the least, stop the process and buy us some time whether it be to save the house or for us to have money to move out and not be stressed about payments. I am going downtown tomorrow to take the paperwork that they faxed me to them and set up the membership deduction. I hope this works because I am so tired of all this drama...

Hearts

[myhearts07]

Second UPDATE!!! So, we are not going to try and save the house. No point. We can save about $25K by the time we have to be out and the stress of trying to negotiate and faxing paperwork and going out of my way to get a no is way too much. Can't do it. WE are getting out and letting go. ]

Hearts

[StartingOver08]

Second UPDATE!!! So, we are not going to try and save the house. No point. We can save about $25K by the time we have to be out and the stress of trying to negotiate and faxing paperwork and going out of my way to get a no is way too much. Can't do it. WE are getting out and letting go. ]

Hearts

I think this is a wise decision. You had posted before your household income and the mortgage costs and it was a substantial portion of your overall income. If you are going to start fresh with a BK, then it is best to get rid of all the debt that is holding you back.

[myhearts07]

Thanks SO/ I just couldn't do it anymore.. I was talking with hubby last night and it was like pulling teeth with him, he is so stressed out right now. I can't let BK and foreclosure ruin my marriage and the harmony of our home and that is exactly what's trying to happen. SO/ you have been a great help to me thank you so much and I will keep you posted on status of BK7.

Hearts