Florida Foreclosure timeline

[PoorGrammyinBK7]

Foreclosure after filing BK

Well, it is not the same timeline for everyone - thats for sure! We bought another (cheaper) condo in February with help from my husband's family.

We stopped paying on our VERY underwater condo in April 2010, got a Notice of Intent to Foreclose in June from the credit union (1st mtg). Served foreclosure papers (summons) on Dec 20th. Have 20 days to file an "answer".

We really just want to let it go back as soon as possible, so we can stop paying the horrendous condo fees, but we don't know if we should file an answer - wouldn't that delay it?

A little worried because the language of the summons is VERY threatening, making it sound as if they are going to take everything we have.

Should we file an "answer" to inform the judge that this debt was discharged in bankruptcy (we paid the payments for almost 2 years after we filed BK, but it was not reaffirmed)?
Also, they have attached a federal tax lien in the foreclosure paperwork - that is NOT us - should we file an answer to clear that up? Does it cost anything to file an answer?

I am thinking of calling the CU and seeing if they would consider a deed-in-lieu of foreclosure, but don't know if that is possible, since there was also a HELOC lien (also not reaffirmed) with another bank. Do you think they would ever do that and negotiate with the other bank to settle it out?

Any help would be appreciated. Need to know what to do - answer or not (and what to say). Suggestions?

I will be so glad when this is all over - if it ever is!!

[justbroke]

Two things. First, credit unions are much more aggressive and is why I call them ankle biters. They are a company of members and therefore need to be more aggressive, but sometimes it's just almost pathetic... like ankle biting dogs. Additionally, since you say that you discharged the debt in bankruptcy, and are not paying, then that also accelerates (motivates) the lender since they will only lose more money the longer they wait.

You can file a suggestion of bankruptcy in your foreclosure case, but that will just make sure that no "deficiency" judgment will be issued. It's a smart thing to do, just to keep things neat and tidy. If you are not fighting the foreclosure, you don't need to do much of anything but there are attorneys that say to ALWAYS file an answer.

As for a deed-in-lieu, that usually requires that the property was already listed on the MLS for at least 60-90 days before it will even be considered. You really don't need to do anything unless you're just trying to speed up the foreclosure process. Are you still living there?

(Also, you may think the timeline isn't working for you, but it is. You are at month 8 and there is no judgment of foreclosure yet. That judgment of foreclosure -- a default judgment -- is still about 4 months away. That keeps your foreclosure from the time of missing a payment until the foreclosure is completed through sale, at 12 months. The general rule for Florida is 7-11 months from time of first missed payment.)

[StEt0417]

I stopped paying in 09-2010 and received NOD-12/3/10 and served LP-12-21-10. I have no clue what to do in the next 20 days. Should I hire a lawyer to represent me ? Thanks

Ours happen fast like this as well. Stopped paying iN April then served foreclosure papers in August. We hired an attorney at to respond to the notice, then fired the attorney in Nov. since we decided to file BK and other issues with that attorney and we havent heard from the bank, we get letters in the mail all the time to call them so they can help us. We have Bank of america.

[leopold1]

Wow that IS fast leopold1. I was wondering who the bank is? Have a friend who has missed 2 payments and there is a certified letter waiting for them at the PO. Their loan was just sold by Citi to Nationstar Mtg. Wondered if its the same.

It's wellsfargo.

[cory1848]

I am still sitting here with no movement on my suit. I may be forced to move earlier than expected due to a failing septic system. The drainfield needs to be replaced at a cost of $2500-$3000. Lets just say I wont be doing that. Might just get the tank pumped every month, cheaper than my electric bill. lol. The copper plumbing in the walls is failing as well. Many pinhole leaks over the last 2 years. Patching them only causes others to appear up the line. Lets just say that wont be getting fixed either. Either way, we will be out of hear sometime in the month of April.

It is interesting who you meet at New Years eve parties. I went to a party with some friends and the house we were at was rented by a nice couple. This couple happened to live previously at the next subdivision over from where we are currently. The just went through FC and gave their house back DIL. They were only behind 4 months and they called the bank to see what options they had. They said it was pretty simple and straight forward and quick. Had a lawyer look over the paperwork and they just got a check for $2500 to move out. Not sure who the bank was but if March comes and goes, I will be trying this tactic with my servicer. I will leave the house in decent shape, except the old cabinets will go back in and the old appliances will go back in too. Just the way I bought it.

[scooter6251]

As for a deed-in-lieu, that usually requires that the property was already listed on the MLS for at least 60-90 days before it will even be considered. You really don't need to do anything unless you're just trying to speed up the foreclosure process. Are you still living there?

About the DIL, and the requirement for the property to have been listed in MSL, what if your BK 7 was recently discharged, would a lender at that point be receptive to a DIL since they obviously will have to foreclose at some time? There is certainly no possibility I would list it now.

[justbroke]

About the DIL, and the requirement for the property to have been listed in MSL, what if your BK 7 was recently discharged, would a lender at that point be receptive to a DIL since they obviously will have to foreclose at some time? There is certainly no possibility I would list it now.

I don't know if they would. They seem rather insistent that it had been on the market. This may be due to (mortgage) insurance requirements. However, they are desperate these days, and may be open to a DIL especially after the debt was discharged in a bankruptcy.

It doesn't hurt to ask!

[cory1848]

Checking in with my monthly update... Still nothing to report. Still in the house.

[pathfinders]

Still in our Home as well. Nothing either to report,

Hired our Lawyer Back in December as I went as far as I could Pro say.......

We are looking to just stay till the kids get out of school in June, should be no worries...

Still could ask for Mediation, could ask them to produce documents thru Discovery if we want to or have to push them, and of course MSJ would buy us another 30 days, at the hearing if we had to we will ask the Judge for another or additional 30 60 90 days,

This August will be 2 years since we made a Payment. the thing that is helping is that the Law firm that wells Fargo is using is being Investigated by the FL. attorney general It is not sterns but the other one that has just been Robo Signing . That's my update from Tampa FL.

We need or want another 4-5 months and are of course saving money for the move etc.

[pathfinders]

Here is a neat link of the quick back and forth of the Bankster v. Deadbeat Debate http://www.xtranormal.com/watch/8320643/

Pretty good.......

[cory1848]

This August will be 2 years since we made a Payment. the thing that is helping is that the Law firm that wells Fargo is using is being Investigated by the FL. attorney general It is not sterns but the other one that has just been Robo Signing . That's my update from Tampa FL.

That law firm wouldn't happen to be Albertelli Law would it? If so, looks like we are in the same boat sharing paddles. August will be my 2 year mark as well with WF.

[Floridagail]

Thanks for update, keep us updateed.

[scooter6251]

That law firm wouldn't happen to be Albertelli Law would it? If so, looks like we are in the same boat sharing paddles. August will be my 2 year mark as well with WF.

We're waiting on foreclosure from GMAC, after BK7 discharge. GMAC is using Albertilli also.

[cory1848]

We're waiting on foreclosure from GMAC, after BK7 discharge. GMAC is using Albertilli also.

I wonder how long we will sit and wait...Glad I didn't continue on with my lawyer...no need to now.

[scooter6251]

My attorney says up to 2 years. They just don't want to take over the houses. I don't get it. In FL it doesn't take long for mold to ruin a house. You'd think they would want to get them on the market and get rid of them. Something is better than nothing. We are planning on renting ours. It protects the house and get us some income. Needs to be a month to month which means a discounted rent but anything is helpful for us.