Got a "right to cure" letter today, so what should I do?

[DownNotOut]

I'm technically not yet 2 months behind with IndyMac () and We received a letter today telling us we are in "serious default" and they want 2 full payments plus late charges by June 19.

I'm trying to get a loan mod with them. First attempt, they "conveniently" couldn't find our hardship package in their system. Refaxed all the info to the same number, but also faxed a copy to the SVP of the Loss Mitigation dept. Maybe that will get somewhere.

So, should I call them and tell them I can't pay this by June 19 and that I'm trying to do a mod? Getting anywhere with these people is like talking to a wall.

[h0usekeeper]

If you are considering to file, dont pay. Lenders try to get as much money from you prior to looking at your hardship package. Chances are they do have your file. If you are upside down with your house, considering talking to your lawyer about mortgage cram down. In the future, when communicating with the lenders, write down the time, reps name, and extention. When sending them a package by email, get a receipt from your fax machine and attach it to the same package that you are to send via registered mail.

[KKAB]

DownNotOut, I think I received the same type of letter. It said my loan is in serious default, etc. Is this considered the NOD with Indymac/OneWest? I'm hoping to get a few more weeks before the notice of sale is published in the paper, as I really want to get current on my loan. Did things work out with you okay on this?

[DeadManCrawling]

There are a couple legal documents that look similar but are totally unrelated. One has a lot of power. One means nothing.

If you received a "Right To Cure And Intent To Accellerate" letter, that is nothing more than a legal requirement they must send you when you fall behind. The timeline and requirements vary by state. It is, generally speaking, an official looking attempt to collect on the debt.

The one with power, and to be concerned with, would say "Notice Of Default" and possibly "Notice of Lis Pendens". THis means they are preparing to move ahead on the foreclosure process. If you have received this one, it should also inform you that you have 20 days to respond to the court. If you wish to fight the foreclosure or delay it, you will want to answer.

We stopped paying in January in Florida. We received an "Intent To Accelerate" letter in March.

No Lis Pendens has been posted as yet. (You can check this on your local county website, usually where the deeds are listed, or in the court system).

We have not received the NOD yet either, so things are stretching out pretty far.


Some states allow some or all of these documents to be consolidated. I am not sure if these would even apply in non-judicial states.

[Scooter10]

Bottom line: You have to pay what you want to keep.

But if BK is on the horizon,and file after the start forecloure you can buy yourself alot of rent free living (assume you want to give up the house). They would have to work through all your bk paperwork, get a relief from stay then sontinue the process.

[DownNotOut]

DownNotOut, I think I received the same type of letter. It said my loan is in serious default, etc. Is this considered the NOD with Indymac/OneWest? I'm hoping to get a few more weeks before the notice of sale is published in the paper, as I really want to get current on my loan. Did things work out with you okay on this?

Sorry I haven't responded to this in a while. Somehow I missed the notification that I had a reply. Anyway, we are still trying to truck along with IndyMac. They still have not sent me anything about my modification. Now they are saying maybe sometime in July whenever I call to ask the status. I still think they are really dragging their feet, but they have stopped calling me every blasted day! I did give them a payment at the end of June and paid a couple of late charges, but that still leaves me 3 months behind. I have not received any "Notice of Default" yet, either which gives me hope they're actually doing something. I am waiting on a mod so I can get this mortgage caught up before I file because we plan on keeping the house if we can.

[DownNotOut]

Update on our modification grrrrrrrrrrr!

I've been calling IndyMac every two weeks to check the status of our modification. I'm supposed to be talking to someone in the Loss Mitigation dept. because that's the phone number I use, but I swear I'm talking to some customer service drone.

Anyway, every time I talk to them it's, "Your case is in the review process. It should be 2 more weeks." Two more weeks, two more weeks....that's all I hear.

So, I called them yesterday. My last call to them was 8/14. I get "Roberto" on the phone and he starts out by asking me if I'm calling to pay the $XXXX.XX owed on the account to avoid foreclosure. I told him no, I'm calling about my modification. So he puts me on hold while he goes to "check". He comes back and tells me that it looks like someone tried to work on my account, but there is information missing. Income information. I lost my mind! I have sent ALL the required documentation to these people TWICE - including income documentation! What a bunch of incompetent boobs! I've been waiting 5 months to find out information is missing?!? And why didn't someone notify me? Because they don't really care, that's why. So I guess it's back to square-one with these turkeys! UGH!

[meetsv]

I just got one from BOA (BAC), I believe they are the collection agency, in the letter they are stating that they have the right to enter the property and conduct an inspection, and such inspection is to observe the condition of the property, verify the property is occupied and to determine the identity of the occupants, they are stating that they have the right pursuant to the loan documents. I have read the documents two or three times and nowhere in them states that they have they right to enter the property. Any advice would be greatly appreciated.

[NewLifeAhead]

meetsv.. You might want to start a new thread with your question. Would get more exposure.