foreclosures in nevada anyone?

[AfraidOfBK]

Has anyone gone through (or is going through) foreclosure and BK in Nevada? Or anyone with Chase?

I missed the pmt on my second mortgage (with Chase) in feb....
I missed the pmt on my 1st mortgage (also with chase) in Mar...
(Still missing pmts, not planning to get current)

Is the discrepancy of not missing in the same month going to HURT me? It really was an accident that I missed the 2nd mortgage first! And now the second mortgage dept is the only one calling...no one has even called on the first (Is this because I sent in loan mod papers before i knew I was gonna give up the home?)

I plan to file ch 7 in July. I know they will eventually foreclose, but Im trying to stay in house as long as possible rent free since I dont want to secure another lease in this state (want to move out of state by end of 09).

SO - do I need to pay prop taxes?

1. do I need to pay HOA fees?
2. If I wait and see if bank pays them, how long can I be late without a lien happening?
3. Do I pay homeowners insurance? Im not even sure if its current or when it comes do as it (and the prop taxes) are currently escrowed)

Thanks for any help...I will be surrendering home in bk ut I dont want anything haunting me after.

[StartingOver08]

SO - do I need to pay prop taxes? No, these become a lien against the property and will be discharged in the Bk.

1. do I need to pay HOA fees? Yes, keep these up as long as you are in the home.

2. If I wait and see if bank pays them, how long can I be late without a lien happening? If you are talking about a tax lien, it doesn't matter. The lien goes against the house and not you.
3. Do I pay homeowners insurance? Im not even sure if its current or when it comes do as it (and the prop taxes) are currently escrowed)

Thanks for any help...I will be surrendering home in bk ut I dont want anything haunting me after.

If the taxes and insurance is escrowed the bank will continue to pay even if your escrow goes into the negative. They will just add this balance to what you owe - and of course, you are going to discharge the mortgages in the BK

[AfraidOfBK]

Thanks, StartingOver, your answers are very helpful and VERy much appreciated.....you know by my posts how Im losing my mind over this.

I just talked with Chase today and they said they never got my loan mod paperwork (no big deal for me, except I was trying to use that to delay FC)

Now, I had to submit everything over phone and they said I definitely DO NOT and probably will NEVER qualify for a loan mod (they were very unkind) and so i should expect to be foreclosed on starting enxt month. I think that means Ill get my NOD next month, right? Then what? I already got the 2nd mortgage's NOD, but the lady in that dept told me the second wont foreclose without the first, is this true?

THEN - If Im not planning to file until July, could I risk being foreclosed on first? Is it stupid to file bk after a foreclosure cuz you'll get both on credit? Could I still discharge house debt if i file after foreclosure?

Right now Im hoping i just barely file BK before they foreclose, and if anything, delay it a couple of weeks so i can move out later?

[AfraidOfBK]

deleted by moderator - reply to a spammer

[lrprn]

deleted by moderator - reply to a spammer

AOB, this "member" who posted a phone number here with no other identification is a spammer trying to lure desperate people in by promising something they desperately want - a way to save their home. Please in the future don't fall for this false come-on. No legitimate business is ever going to post the way this spammer did here with a non-specific member name, no business name or address, and a phone number to call (which wasn't even toll-free!).

Time to get your "this is a scam" shields up higher and keep them at full alert. NEVER respond to post like this here or anywhere else - they are bad news and will only break your heart (and if they can, they will break your wallet too).

[AfraidOfBK]

Thats why I decided not to call....I even asked to communicate via forum only until i saw another post by this same member with a phone number....looked like their attempt at self advertisement! From now on I will not even respond, sorry

[NeedNewStart]

I don't know if you already know this but... once you get the NOD you'll still have about 4 months to live in the house in NV.

[AfraidOfBK]

Yes, but If I have four months from now, that gives me until July-Aug which is around my planned file date (July 1). What if (worst case scenario) I have to file later and my home forecloses first?

Does that look worse on credit?
Can I still include deficiency and mortgage in BK?

And since Im not paying the mortgage now, can I include it as an expense in Nevada?

[NeedNewStart]

My first mortgage is with Chase too, my last payment was in January and they have not started the foreclosure process yet. I'm pretty sure you have to be 90 days behind before they'll start the process. It might even be longer. I'll let you know when I get the NOD.

My second is with another bank and I have not paid it since December, I doubt they will foreclose because they wouldn't get anything because the house is worth less than what I owe on the first and the first gets paid first.

I'm going to file Ch. 7 too but don't plan on doing it until Feb/March 2010. I don't live in the house because I had to move out of state. If I were you I'd stay as long as you can.

I'm planning on the house foreclosing before I file and the deficiency will be included in the BK.

I'm not sure if you can include the mortgage as an expense on the means test if you're not paying it... I think it depends on the Trustee, a lawyer can probably tell you.

[AfraidOfBK]

i got the NOD at 45 days behind.....now I am thinking I only have four months until they foreclose. What I am wondering is if I have any time beyond those four months.

NeedNewStart, you are going to file after foreclosure? What are the risks/ramifications with that? Does it simply look worse on credit? I am now wondering if I should delay my filing a little longer.....I actually dont think that would really benefit me.


What I AM worried about, though, is that my filing date (planned date) might just barely miss the foreclosure. Should I speed up the filing then, so as to file before the foreclosure process is finsihed?