What will come next from BofA?

[UpToMyNeck]

Hello,

This is my first post but have been reading this forum for months now trying to get a better understanding of the process.

I will be paying my retiner fee next week and paying attorney in full the following week so we can file for Ch-7 in November. Dont have a lot of debt but mainly filing to get out from under the house.

I have a mortgage with BofA formerly Countrywide. The last payment I made was in April '09. I received a letter 8/10/09 from their attorney saying they have been retained to initiate foreclosure proceedings.

What will come next from BofA? Will they be serving me next? I'm trying to get a handle on what to expect so we can plan accordingly. We are in New Mexico and looks like the timeline for foreclosure here is about 5 months. Not sure where we are in that timeline right now.

Thanks in advance for any info.

[lrprn]

Here are several links that explain how the foreclosure process happens in New Mexico -

http://www.foreclosures.com/pages/state_laws2.asp?state=nm

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

And here's a link that goes through the typical foreclosure timeline no matter what the state - http://www.bankrate.com/finance/mort...-a-glance.aspx

Hope this helps!

[UpToMyNeck]

I appreciate your quick response. Based on the third link looks like were here:

Day 90 to day 105
The servicer refers the loan to its foreclosure department and hires a local attorney or other firm to initiate foreclosure proceedings.
Depending on the state where the home is located, the servicer's representative may record a formal notice of foreclosure at the local courthouse, publish details of the debt in the local newspaper, attend hearings on the case and make appropriate court filings.


Will someone actually notify me? If so is it in person or by mail or do I just have to keep an eye on published legal notices published? My questions may be a bit premature but I'm starting to get anxious. I will see the attorney again next week.

Thanks!