quick question/received letters from carrier

[atolar]

we received paperwork. not sure if it's the "paperwork" but it is a summons giving us 20 days to pay the balance of our mortgage, it has a case number and everything and it says is it's not paid, foreclosure procedures will begin. what happens after 20 days?

I live in kansas and have 4 kids, I just don't want to be kicked out of my house, unprepared.

[DeadManCrawling]

Tht sounds like it is THE paper.

If it is, you have 20 days to file an answer with the court. Many people respond to this initial letter, some pro se, some with an attorney.

You can find answers both here and around the net, or hire an attorney if you wish to fight the foreclosure.

You may be able to delay the matter a long time, if you have the time, money, inclination.

Int he end you will be unlikely to win, but there are many good foreclosure defenses. Done properly, they can extend the process for months or even years, allowing you time to save up money.

If you choose not to delay what is probably inevitable, you need to check out Kansas foreclosure law to determine what the approximate time-frame is for you to be out of the house.

After all the foreclosure work is done, you can be there right up till the moment the sheriff shows up to throw you out. I would find that uncomfortable, personally.

Depending on the bank and circumstances, the lender may offer you a payment to leave, called Keys For Cash. It could be a few hundred or even a few grand, to leave the place peacefully and undamaged.

Good luck!

[atolar]

Thanks! ya, we filed 13 a long time ago and after I was laid off, just couldn't do it. it's an older house, so I'm looking forward to moving into something nicer for cheaper.

I have been googling the laws and am only getting spam. got any suggestions as the were to go? I've been reading up on this forum, but nothing specific to Kansas.

[EverHopeful]

Tht sounds like it is THE paper.

If it is, you have 20 days to file an answer with the court. Many people respond to this initial letter, some pro se, some with an attorney.

You can find answers both here and around the net, or hire an attorney if you wish to fight the foreclosure.

You may be able to delay the matter a long time, if you have the time, money, inclination.

Int he end you will be unlikely to win, but there are many good foreclosure defenses. Done properly, they can extend the process for months or even years, allowing you time to save up money.

If you choose not to delay what is probably inevitable, you need to check out Kansas foreclosure law to determine what the approximate time-frame is for you to be out of the house.

After all the foreclosure work is done, you can be there right up till the moment the sheriff shows up to throw you out. I would find that uncomfortable, personally.

Depending on the bank and circumstances, the lender may offer you a payment to leave, called Keys For Cash. It could be a few hundred or even a few grand, to leave the place peacefully and undamaged.

Good luck!

THE paper, what does that mean?

[DeadManCrawling]

THE paper-was responding to their question, about the "paperwork".

It is a vague reference to the Notice Of Default, or the official start of the proceedings to foreclose. Sorry for being vague.

There are several stages things go through, Notice Of Intent To Accellerate, various mildly threatening or accusatory letters to demand payment and so on.

The only document that REALLY counts in these situations is THE paperwork, or the official NOD (Notice Of Default), which officially serves you with notice that they are really, finally going to act on the foreclosure, and you can use this to create a general timeline to figure out how long you have before they can remove you from the house.

Apologies for being vague, I hope that cleared things up.

Best wishes!

[EverHopeful]

Now worries, i suspected it was the Notice of Default. Now does that have to be served in person or do they mail it or what?? I am expecting that anyday since my last payment to Wells the first was Jan 1 2009 and i have not paid since Feb.



Anyone from norcal who has had a NOD and can give me some kind of timeline??

[atolar]

ya, we have had paperwork before that came in the mail, only threats... but this is different, man showed up at the door and handed them to Zeke. and it has a court assigned case number and everything. I'm trying to find good things that can come out of this! I've heard we had 90 days after the sheriffs sale... but not even sure when the sheriff sale is and where I can find out about it.

[EverHopeful]

Forgive me for sounding stupid, but if I plan on foreclosing on the house, do I still have to answer the Notice of Default?Or just ignore it and file BK 7 later?

I plan on moving out within 2 months of the NOE, would that be enough time or would I be booted out ??

[atolar]

no stupid questions here... it's my understanding that a notice of default isn't necessarily your 'get out papers'. if you are moving with in 2 months, that is probably enough time, there is a lengthy process for foreclosure. we've been in our house for over 10 months with out paying and just now getting the official paperwork for foreclosure.


I would ignore it unless you plan to fight it.

[coolgurka]

That is good to know!! I am in a similar situation.

[EverHopeful]

Thanks Atolar!

I am planning to move out of the state/country (CA) by mid august and filing most likely in early august .I want to foreclose on the first and second Heloc and file CH 7 (CA) I see that the process can take a long time even after CH 7 is discharged.

I got something in the mail and am afraid to open it, i think it is the Notice of Default!! -0 .It came in the mail, i thought that NOD is usually served in person or perhaps I confused it with the eviction notice??

I guess I don't have to worry that I will be booted out before August then??

I will ignore the NOD after opening it of course!

[atolar]

everytime we were late on our mortgage, we would get a notice of default, those are eviction papers. You would probably get "served" eviction papers... and even they have to get a court order to evict. (after the sheriffs sale). Mine would always come in certified mail.

BTW: if you are planning on moving mid august, I would probably do the chapt 7 before august.

[dingdong]

To the California posters. Filing a BK will probably get you another 4-7 mnths in the home rent/payment free before you have to move.

Your Cal timeline basically goes like this.

After 3 months of non payment, you will get a NOD. If the arrears are not paid, the lender can move to FC, by Trustee Sale.

The Trustee sale has to be published for 3 weeks (21 days), after that, if you don't move, and the lender has recorded the new deed, they can give you a 3 day notice.

Stay past the 3 days, they have to go to court , file an Unlawful Detainer action against you (2-6 weeks depending on if you answer the complaint or not)

One the UD is heard, if you lose, a writ of possesion is issued and served, giving you 5 days before the Sheriff locks you out.

Filing BK before the Trustee Sale date, stops the FC process, they have to start all over again IF they file for and are granted a motion for relief from stay (Which will typically take 40-60 days, maybe longer depending on how busy they are)

So a BK, timed right before the TS date, gets you approx 21 days ( new TS publishing requirements, plus the time for filing MFRFS and hearing date) 30-60 days, often longer. Then the lender has to move to evict. So usually at least 3 months post BK filing.

My experience living in a rental that was FC was 5 months post BK filing for TS completion and eviction notice. I am in Cal.

[LuciluS]

Atolar:

http://www.foreclosurelaw.org/Kansas_Foreclosure_Law.htm

Kansas Foreclosure Law Summary


Quick Facts



- Judicial Foreclosure Available: Yes



- Non-Judicial Foreclosure Available: No



- Primary Security Instruments: Mortgage



- Timeline: Typically 120 days



- Right of Redemption: Yes



- Deficiency Judgments Allowed: Yes

In Kansas, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.



Judicial Foreclosure



The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder.



The notice of the time and sale must be advertised once a week for three (3) consecutive weeks, with the last publication being no more than fourteen (14) and no less than seven (7) days before the scheduled date of sale. Notice of the sale must also be sent to the borrower within five (5) days of the first advertisement.



Unless otherwise ordered by the court, the sale is typically held at the courthouse of the county in which the property resides. The sale is by public auction to the highest bidder, who will receive a certificate of purchase. After the sale is confirmed, the winning bidder will be entitled to receive a sheriff's deed, which will vest good and perfect title to the foreclosure bidder, once the borrowers right of redemption has expired. The borrower typically has twelve (12) months from the date of the foreclosure sale to redeem the property.

Lenders may sue to obtain a deficiency judgment for the difference between the foreclosure sale price and the amount due on the original mortgage.

More information on Kansas foreclosure laws.

Check your County Clerk's Website or County Sheriff's Website if they exit.

Luci

[slam22]

To the California posters. Filing a BK will probably get you another 4-7 mnths in the home rent/payment free before you have to move.

Your Cal timeline basically goes like this.

After 3 months of non payment, you will get a NOD. If the arrears are not paid, the lender can move to FC, by Trustee Sale.

The Trustee sale has to be published for 3 weeks (21 days), after that, if you don't move, and the lender has recorded the new deed, they can give you a 3 day notice.

Stay past the 3 days, they have to go to court , file an Unlawful Detainer action against you (2-6 weeks depending on if you answer the complaint or not)

One the UD is heard, if you lose, a writ of possesion is issued and served, giving you 5 days before the Sheriff locks you out.

Filing BK before the Trustee Sale date, stops the FC process, they have to start all over again IF they file for and are granted a motion for relief from stay (Which will typically take 40-60 days, maybe longer depending on how busy they are)

So a BK, timed right before the TS date, gets you approx 21 days ( new TS publishing requirements, plus the time for filing MFRFS and hearing date) 30-60 days, often longer. Then the lender has to move to evict. So usually at least 3 months post BK filing.

My experience living in a rental that was FC was 5 months post BK filing for TS completion and eviction notice. I am in Cal.

We are at the 15 month of no mortgage payments to Countrywide(Bank of America) and still no NOD has been filed and we are still in our home (California). I check on the county website every couple of days to see if a NOD has been filed but so far none has been filed. We feel very lucky. Once it does get filed (and it will one day) we know we will have least 4 months at the minimum before we have to be out.