NOD received, next move....

[DeadManCrawling]

jlmaca is correct.

In a judicial foreclosure, the Lis Pendens will arrive first, usually. It serves as notice that the property is about to be involved in a legal matter.

In FL, the lis pendens is issued first, and is required to proceed with the actual foreclosure.

THEN, the NOD-a separate document- arrives. This one launches the process of foreclosure. But there is no real timeline the lender MUST follow. It is entirely up to them.

In our case, it has been a long process and looks to be nowhere near done.

Note that in some states the lis pendens and NOD CAN be the same document, but I don't think this is common.

I do not know if any of this would apply in non-judicial foreclosures.

[beachymama]

Have you had a Lis Pendons listed with your local county official records yet? Interested to know the timeline from when that gets officially listed until sale of home.

I have not paid since June 2008. NOD recvd then the Lis Pendens in 3/2009. Since that time I filed BK 07, did not reaffirm in 7/09. Stay lifted in 11/09, BK discharged, but not closed 12/09.

I did apply for HAMP, was turned down, so that could have slowed things down too.

I check the Charlotte County Clerks office weekly and nothing filed since the 3/09 Lis Pendens.

My lender is IndyMac.

I also have another house that has had no payment since Nov 2007 same lender, charged off HELOC, and nothing except NOD and Lis Pendens in 3/09.

[DeadManCrawling]

You may want to recheck your paperwork, beachymama.

The first notice was possibly NOT a NOD, but a Notice of Intent to Accelerate.

The Lis Pendens would typically be the next document, which you have been served with.

If this is correct, then you have more time than you suspected, and your NOD is yet to come. Even when it does, that doesn't necessarily mean the lender intends to act and proceed through foreclosure.

The usual process in FL is:

1. Notice Of Intent to Accelerate
2. Lis Pendens
3. Notice of Default

Confusion over the terms and what they mean can cost you time in the house or working on a mod, or lost time in terms of "free rent" so you want to make sure to look carefully at everything you are served.

We went through all the steps above, but BoA never requested lift of stay, which suggests they have zero interest in foreclosing any time soon.

[jlmaca]

You may want to recheck your paperwork, beachymama.

The first notice was possibly NOT a NOD, but a Notice of Intent to Accelerate.

The Lis Pendens would typically be the next document, which you have been served with.

If this is correct, then you have more time than you suspected, and your NOD is yet to come. Even when it does, that doesn't necessarily mean the lender intends to act and proceed through foreclosure.

The usual process in FL is:

1. Notice Of Intent to Accelerate
2. Lis Pendens
3. Notice of Default

Confusion over the terms and what they mean can cost you time in the house or working on a mod, or lost time in terms of "free rent" so you want to make sure to look carefully at everything you are served.

We went through all the steps above, but BoA never requested lift of stay, which suggests they have zero interest in foreclosing any time soon.

Your list has helped me understand the process. I confused Notice of Intent to Accelerate with Notice of Default. I just received a Notice of Intent to Accelerate from Moss Codilis on behalf of American Home Mortgage Servicing Inc. servicer for Wells Fargo. This notice just showed up in the mail. No recording at county was necessary. The notice states that further action will be taken if I don't pay up the entire balance of the mortgage. Now I'm not sure if Moss Codilis sues me for foreclosure because I think they are just a debt collection firm. I'd imagine it would take another month or more for me to be officially served "lis pendens". Then the real delay game begins.

[cory1848]

I am not even sure if have a received a notice to accelerate. Any way to find that out? I was one month last then filed BK7 09/09, did not reaffirm, stay lifted 12/23 and dismissed 01/2010. However my case has recently been reopened because my lawyers are fighting a couple of violations of stay that my creditors committed. So still sits open as of now. Kind of in limbo. Sounds like I have a lot of time as well, which is fine by me. I could be up and out of here in two weeks if I had to, but would rather bank the money and pay off some remaining debt.

[cory1848]

I am not even sure if have a received a notice to accelerate. Any way to find that out? I was one month last then filed BK7 09/09, did not reaffirm, stay lifted 12/23 and dismissed 01/2010. However my case has recently been reopened because my lawyers are fighting a couple of violations of stay that my creditors committed. So still sits open as of now. Kind of in limbo. Sounds like I have a lot of time as well, which is fine by me. I could be up and out of here in two weeks if I had to, but would rather bank the money and pay off some remaining debt.

Bring this back up a month later... Have either of you hired a lawyer to respond to the Lis Pendens? Served yesterday, I want to respond to slow things a bit but looking like its going to cost be about $1500 to hire a lawyer to do so.

[jlmaca]

Bring this back up a month later... Have either of you hired a lawyer to respond to the Lis Pendens? Served yesterday, I want to respond to slow things a bit but looking like its going to cost be about $1500 to hire a lawyer to do so.

In Maine the summons must come with an "Answer" and an envelope addressed to the court. All we have to do is fill in our name and we are automatically entitled to arbitration. This gives us months of extra time. There are many generic "Answers" to foreclosure summons on the net, check your state. It costs nothing but research.

[feelingnutsy]

Hey---jlmaca---arbitration sounds super---but where
exactly would I look to find out such info?---I'm in Virginia.

[freshstartmi]

Even after the NOD, sheriffs sale, etc isn't there a period of redemption? In MI it is 6 months after the sale to redeem. Couldn't you stay in the house that whole time?

[jlmaca]

Hey---jlmaca---arbitration sounds super---but where
exactly would I look to find out such info?---I'm in Virginia.

I can't seem to find the law exactly. I thought it was a federal law but could be just states. Not sure Virginia is participating but a phone call to an attorney would get you the info on this. If they do offer the arbitration it's good for a solid month delay or more plus if you are thinking of a mod they are more inclined to do this under court supervision I would think.

[feelingnutsy]

Thanks for the info---jlmaca---and I'll check this out.

[jlmaca]

Update.... I have officially been "served" with a foreclosure lawsuit. I have 20 days to answer and they have included an "answer" in the lawsuit package. The "answer" is a fill-in-the-blanks form (with a self addressed, stamped envelope) that requests a mediation hearing. I have no intent at all to keep the home, however, I'm looking forward to this meeting as a delay tactic. I will file my answer on day 19 to get even more time. I want to stretch this out until at least November.