Notice of Intent to Foreclose

[JustDo]

Hi Folks,
We recently received our chapter 7 discharge and are surrendering our home. We received a "Notice of intent to Foreclose" in the mail yesterday from National City Mortgage.
They are giving us 20 days to "pay up" or they plan on pursuing foreclosure.
We are in California.

Does anyone have experience with one of these letters. Are they likely to proceed with the foreclosure in short order after the 20 days or has anyone experienced this and then still not received an official "Notice of Default" for quite some time after this type of letter?

Any help is greatly appreciated. Thanks.

[spidge]

Unfortunately every lender is different. Some have a department of their own to proccess foreclosures and some lenders just have a third party do it. Many have more work than they can handle so you could end up staying rent free for some time, but you never know until you get into the proccess.

[monkatom]

I am in CA also and have National city. I received the same letter than a month latter received info on who the law firm is in San Diego that will handle the case. I have checked the county recorders office and they still have not done an official NOD. My last Paymnet was December 1. Hope this helps.

[JustDo]

Thanks for the help.