How long did you live "rent free?"

[MaxHouston]

Core1848 AWESOME information! Thank you very much for this wealth if great information. It will take me little time to throughly digest all that unfolded in your case, but the bottomline is, I am so glad that all worked out well for you in such very bad circumstances.

Yet on thing that sticks out is, it sounds like you used the “Show me the note.” strategy? As I had heard, that homeowners are sometimes able to use that strategy in order to buy some more time, and it puts the foreclosure on hold indefinitely.

Thanks so very much.

Max

[cory1848]

Core1848 AWESOME information! Thank you very much for this wealth if great information. It will take me little time to throughly digest all that unfolded in your case, but the bottomline is, I am so glad that all worked out well for you in such very bad circumstances.

Yet on thing that sticks out is, it sounds like you used the “Show me the note.” strategy? As I had heard, that homeowners are sometimes able to use that strategy in order to buy some more time, and it puts the foreclosure on hold indefinitely.

Max

It wasn't the show me the note strategy. I brought that up to my lawyer at the time and he said courts are getting wind of using that just as a delay tactic. Said the note usually shows up. I guess when you fight a case, you aren't supposed to fight it to just delay it, you have to show that you want to actually proceed and follow through. At least thats what I got from it. With that said, my lawyer used the motion to dismiss tactic and requested discovery off all documents to back up their claim. Bank came up with the requested docs and thus we dropped it on our end. Keep in mind that all took 6 months.

The way my lawyer worked was a 2 phase process. From the initial Lis Pendens up until the summary judgement phase was a flat $1500. We finished this out. The second phase was if I wanted to pursue fighting through summary judgement part of it. That is where it would get nasty and all that paperwork would be scrutinized. We decided to drop it because our original timeline was to be out Nov/Dec 2010. IF I chose to continue to fight it, who knows where I would be. For $1500 I will be getting an additional 18-24 months rent free just by fighting it a bit. I can see why these cases drag out forever.

[helpme2010]

NOD was sent to me awhile before the LP was. I didnt think I received it either as it was not required to be sent Certified, etc. It was regular mail. After going back through all the paperwork I received, I found it. Once I was served, I hired a lawyer. Instead of filing answers to the summons right away, he submitted a motion to dismiss based on the fact that a security was not allowed to foreclose because they technically don't own the note. It is a delay tactic because eventually the law firm will come up with the correct paperwork. They should have filed it correctly in the beginning so I have no issues making them do it correctly. This alone bought me 6 months. A heading was set for the motion to dismiss and the day before the hearing, my lawyer negotiated with the law firm that was suing me that if we were to drop the motion, they would allow us the original 20 days to file the answers. We agreed, and 2 weeks later filed the answers. At this time, I decided not to pursue the case anymore and let the lawyer go. He signed off and that was the last record recorded. That was October 2, 2010. Nothing has happened since.

You will receive a lot of letters from lawyers wanting to help. Some are legit and some are bottom feeders. DO you research before hiring anyone. You are receiving those letters because now it is public record. Not really out of the blue, the bottom feeders search those records everyday and send out info once they find something.

I kind of got lucky in the fact that timing played into my case. The law firm that is handling my case for the bank is now under investigation for fraud from signing all those foreclosures with bogus information. Since that has happen, everything has stopped. Good for me, bad for people wanting things over with.

You judicial state homeowners make me so jealous. I am in a non-judicial state, so I can't use the courts easily to delay, but I am using every tactic possible to buy more time.

[CCsAreEvil]

Here in Arizona. It appears we only get to stay in the property for about 8 months total. I think it really does depend on several factors: who the lender is, value of home vs loan amount, local RE economy, etc.

I really was hoping to stay much longer, but I'm just not as lucky as some of you out there being able to stay 1-2 years or even longer.

We did start and try a loan mod with the lawyer representing CitiMortgage, but I'm still betting it will not work out and we'll have to find a place soon.

Yes, we are waiting until the end on this one. Our auction date is in April. I don't know how long we'd get to stay after the auction date.

[ryan]

Some very good information on this thread. Motioning for an early dismissal by defendant due to lack of standing by plaintiff does seem to work often in Judicial FC states ( to buy time)

.....as to all the lawyers who send you mail once you are publicly identified as a FC, you should know this: Most of these lawyers are soliciting you for BK work. Few are really interested, or experienced at actual FC defense.

[FreshStart2009]

It has now been exactly three years since we've made payments on either our 1st or HELOC with Bank of America. To date no NOD has been filed. My company is transferring me to Dallas next month. My wife and I just got back from Texas where we just bought a new house for cash. With no debt after the BK discharge we've been able to save a ton cash over these past three years, and combined with some serious budgeting we were able to do the all cash deal on the home in Dallas. BTW it's almost twice the size of our existing home and half the price. Filing Chapter 7, while difficult to come to terms with has actually been the smartest decision we ever could have made.

Congrats slam22 on your new home purchase with no mortgage! My situation is similar to yours. Chapter 7 discharged in Aug 2009. Ch7 BK included both 1st mortgage and HELOC, both with Countrywide/BofA.
If you don't mind, can you share what you did to stay this long rent-free. I'd like to do the same and stay rent-free as long as possible. My last payment was in June 2010. So, 10 months since our last payment thus far.

[chicagoannie]

I live in west suburban IL and have a friend who stopped paying a Chase mortgage in July 2009. It is now March 2011 and they are still in their home. Chase filed NOD in Sept 2010 but as of today, no date has been set for the sheriff's sale.

[FreshStart2009]

I live in west suburban IL and have a friend who stopped paying a Chase mortgage in July 2009. It is now March 2011 and they are still in their home. Chase filed NOD in Sept 2010 but as of today, no date has been set for the sheriff's sale.

Hmmm ... I thought there was a 111 day limit once Notice of Default is filed (= 90 days for NOD to Notice of Trustee Sale + 21 days till the actual sale)
It might depend on the bank, the state you're in, etc.

Any thing your friend did to prolong their rent-free stay??

Thanks!

[MD69107]

Same here in MD. Made my last payment to Chase in Aug 09. They started the foreclosure process in April 10. Still here, no sale date as of yet.

[tobee43]

what the heck is with chase.....it's been over three years. they haven't moved an inch.

[helpme2010]

I am running out of time and fast. I estimate 2 months left for me (this might be more time depending on when the auction date occurs and whether I take the cash for keys deal, if it is offered or wait it out until the last days before the eviction process takes place).

I had 2 interviews a couple weeks ago and a couple phone/email interviews, but they haven't panned out. If I can just land that job, I will be a productive member of society again and be happy to pay all those taxes to help the economy. I am so close, but unfortunately when unemployed you can't pick the date you will get a job.

[tobee43]

I am running out of time and fast. I estimate 2 months left for me (this might be more time depending on when the auction date occurs and whether I take the cash for keys deal, if it is offered or wait it out until the last days before the eviction process takes place).

I had 2 interviews a couple weeks ago and a couple phone/email interviews, but they haven't panned out. If I can just land that job, I will be a productive member of society again and be happy to pay all those taxes to help the economy. I am so close, but unfortunately when unemployed you can't pick the date you will get a job.

i'm really hoping for you. i know something will come up!!! i understand many places now take a ton of time to make up their minds...so you may not be out yet.

yes, take the cash for keys offer. at least that will help with the move!

[IamOld]

Wow - not in my state - miss about 2 - may be 3 payments and you can be out w/in 30 days!

[tobee43]

oh...IamOld, you must be in a non-judicial foreclosure state, they seem to move much faster in the foreclosures.

[chicagoannie]

Hmmm ... I thought there was a 111 day limit once Notice of Default is filed (= 90 days for NOD to Notice of Trustee Sale + 21 days till the actual sale)
It might depend on the bank, the state you're in, etc.

Any thing your friend did to prolong their rent-free stay?? Thanks!

My friend filed Ch 7 the same month the NOD was filed (9/10). The BK was discharged 12/10. IL is a non-judicial foreclosure state. Not sure how that works. Also - the property shows up on the public records now as Lis Pendens, not NOD.