NOD received, next move....

[jlmaca]

I filed for chapter 7 in September of 09. Discharged December 09. I have not made a mortgage payment in 10 months and did not reafirm. I just received the NOD and would expect to be served with a foreclosure lawsuit with 45 days or so. When I'm served the lawsuit I plan to answer it only to delay a judgement. When I do receive the judgement I have a 90 day redemption period and then must vacate the property. My goal is to stay in the house until November 2010 which is 8 more months. How long will my answering the foreclosure lawsuit delay things? Is there any realistic hope of dragging this out for 8 more months?

[cory1848]

My Bk timeline is very similar to yours so I am wondering the same thing. I have not received a NOD yet and havent paid since August 09. I am in Florida so no sure how long things take once one receives the NOD.

[jlmaca]

My Bk timeline is very similar to yours so I am wondering the same thing. I have not received a NOD yet and havent paid since August 09. I am in Florida so no sure how long things take once one receives the NOD.

From what I hear in Florida in can take 180 to 200 days under normal circumstances for the forclosure process to complete. Just be sure to answer the foreclosure lawsuit when you get it if you want to delay or you'll get a summary judgement and that will speed things up.

[AngelinaCatHub]

Eight months is a long possibility. I would say 60 to 90 days at tops. You won't get a deficiency Judgment though as you did not reaffirm. This house of course was listed in your paperwork, right? Even after the foreclosure check some of the newer links as some people are not being foreclosed on in a timely fashion causing the house owner additional expenses. 'Hub

[cory1848]

From what I hear in Florida in can take 180 to 200 days under normal circumstances for the forclosure process to complete. Just be sure to answer the foreclosure lawsuit when you get it if you want to delay or you'll get a summary judgement and that will speed things up.

180-200 days from when? First missed payment? or after one receives the NOD?

[jlmaca]

180-200 days from when? First missed payment? or after one receives the NOD?

From what I can tell, the period starts from receipt of the NOD. I have just been informed that lenders in Maine (where I'm from) must include an "Answer" and an envelope address to the court along with the foreclosure lawsuit. This is to ensure and encourge everyone to engage in the foreclosure mediation. I'm hoping that they are so backed up in takes a month or so to schedule the midiation. And then when it's time I just won't show up. At that point they will file for summary judgement and receive it. Then my 90 days starts. I would imagine you'd have a similar proceedure in Florida.

[cory1848]

From what I can tell, the period starts from receipt of the NOD. I have just been informed that lenders in Maine (where I'm from) must include an "Answer" and an envelope address to the court along with the foreclosure lawsuit. This is to ensure and encourge everyone to engage in the foreclosure mediation. I'm hoping that they are so backed up in takes a month or so to schedule the midiation. And then when it's time I just won't show up. At that point they will file for summary judgement and receive it. Then my 90 days starts. I would imagine you'd have a similar proceedure in Florida.

If thats the case, then I have some time as well. I was planning on August cause that would be the 1 year mark for me, BK slowed things down but now it looks like I would be looking at middle of Fall sometime. Fine with me. I would welcome mediation cause I want to see their reaction to losing a house to the current market rates. If I were offered a principle reduction to current market rate, I would keep the place. I have heard of that possibility never happening so they can take it back for much less than market. Currently upside down about 80k so its not worth even talking about anything other than a reduction in principle.

[jlmaca]

If thats the case, then I have some time as well. I was planning on August cause that would be the 1 year mark for me, BK slowed things down but now it looks like I would be looking at middle of Fall sometime. Fine with me. I would welcome mediation cause I want to see their reaction to losing a house to the current market rates. If I were offered a principle reduction to current market rate, I would keep the place. I have heard of that possibility never happening so they can take it back for much less than market. Currently upside down about 80k so its not worth even talking about anything other than a reduction in principle.

That's good news, it's nice to leave the place on your terms, somewhat... I'm about 100k underwater and the place needs probably 20k of work easily. Yes definately go to the mediation if you have it, it should be fun at least.

[jlmaca]

Does anyone know anything about Moss Codilis LLP? From what I can tell they are into collections. I received my NOD from them. Are they also doing foreclosures?

[cory1848]

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.

[DeadManCrawling]

For others looking for general timelines:

We stopped paying our mortgage with BoA in Pasco County (Middle District) January 2009.

Received Lis Pendens in April 2009.

NOD received November 2009.

Filed BK December. Not to delay the foreclosure, but because of other factors. I was hoping BoA would request lift of stay and proceed with foreclosure.

Discharged from BK the other day.

Still no movement at all from BoA. We think it is because the house is extremely upside down, there is no chance of getting more than 40-50% of the mortgage balance from a sale. Also, it is in a HOA with moderate fees but the house itself is a money pit in terms of maintenance and utility costs.

Our attorney thinks it may still be sitting there a year from now, coming to a total of 2 years or a little longer. I hope not.

All of Florida seems quite slow, though occasionally someone posts on the forum that their timeline was 6 months or less.

[jlmaca]

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.

No I have not been served any summons as of yet. Since I just received the NOD they must wait 20 days for a response then they can sue me. When they do serve me the summons they must include an "answer" generic but acceptable by Maine law. This allows a mediation meeting to be scheduled.

[cory1848]

For others looking for general timelines:

We stopped paying our mortgage with BoA in Pasco County (Middle District) January 2009.

Received Lis Pendens in April 2009.

NOD received November 2009.

Filed BK December. Not to delay the foreclosure, but because of other factors. I was hoping BoA would request lift of stay and proceed with foreclosure.

Discharged from BK the other day.

Still no movement at all from BoA. We think it is because the house is extremely upside down, there is no chance of getting more than 40-50% of the mortgage balance from a sale. Also, it is in a HOA with moderate fees but the house itself is a money pit in terms of maintenance and utility costs.

Our attorney thinks it may still be sitting there a year from now, coming to a total of 2 years or a little longer. I hope not.

All of Florida seems quite slow, though occasionally someone posts on the forum that their timeline was 6 months or less.

You received the Lis Pendens before the NOD? THought it was the other way around. THe lawyer you mentioned, is that the same lawyer as your BK? I am wondering if I should hire a lawyer for the foreclosure bit. My BK lawyer I am not happy with and wont give him another cent.

[Coldplay]

You received the Lis Pendens before the NOD? THought it was the other way around. THe lawyer you mentioned, is that the same lawyer as your BK? I am wondering if I should hire a lawyer for the foreclosure bit. My BK lawyer I am not happy with and wont give him another cent.

Isn't a lis pendens and a notice of default essentially the same thing ? Are you saying you received both ?

[jlmaca]

Isn't a lis pendens and a notice of default essentially the same thing ? Are you saying you received both ?

Lis pendens is Latin for "suit pending." This may refer to any pending lawsuit or to a specific situation with a public notice of litigation that has been recorded in the same location where the title of real property has been recorded. ...

A NOD is not a pending lawsuit and has no requirement to be recorded. Please correct me if I'm wrong. I'm no attorney.