We officially missed our 3rd mortgage payment on November 30. Today we got a debt validation notice, I guess that's what it is. Telling us the amount of debt we owe to BoA and asking us if we dispute it. Should we be doing anything? Talking to them? We are planning to file BK in January once we get the lawyer paid and are letting our house go in the BK. Just wondering if I need to do anything or just hold onto the paper. What comes next?
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No need to respond to this or anything else if you are letting the house go.
One caution: BoA is renowned for taking a LONG time on foreclosures. You may have a year, two, or even three, in the home rent-free. Which can also be a real hassle if you want to or need to move for your own reasons. Abandoning the place does NOT remove your responsibility for may aspects of the home.
Good luck,
-dmc11-20-09-- Filed Chapter 7
12-23-09-- 341 Meeting-Early Christmas Gift?
3-9-10--Discharged -
Thanks for the reply DMC. Im ok with them taking a long time right now. We really need to get some money saved at this point to get into a rental home, so Im good with that for now. That being said once we get enough saved we would like to be free of this money sucking pit and just move on. Will filing the BK speed things up at all if we need to?Comment
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