Notice of Intent to Acclerate from BOA

[mama2three]

We last made a payment on our mortgage to BOA on October 1, 2009. We have a 1st and 2nd, both owned by BOA. Yesterday we received a letter in the mail, as well as certified (I am assuming this is the same letter, we haven't picked it up yet), that was a Notice of Intent to Accelerate on the second. It stated we had until May 5th to pay the arrearages or they would initiate foreclosure proceedings.

Is this something different than the Notice of Default? Is the Notice of Default an actual pleading, or just a letter?

We were hoping to stay in the house until the end of the summer. Does our 90 days start now.

I have read that sometimes BOA sends the acceleration notice and then does nothing. Does anyone have any experience with this?

We are in Nevada. Thanks

[Coldplay]

You have not received your Notice of Default !!!!



The Notice of Default will be a summons. It'll have a Docket # on it.

We got our intent to accelerate about 4 months before our NOD. BOA might be even slower than that. I heard from our attorney that they are the worst and super super slow. You can go to your county courts website (if it's online) and search for a NOD there. Also, you can do a 7 day free trial on some of these foreclosure websites to see if you are listed. But in my opinion you have not received your NOD.

It would say

Bank of America (plaintiff)

VS.

Mary Smith (defendant)


Hope that helps to put your mind at ease. Best wishes.

[justbroke]

Coldplay, are you from Nevada?

[Coldplay]

Coldplay, are you from Nevada?

No. NJ.

[secondtimer]

Are NOD a summons in all states???

Got one from CM collections yesterday.
Not a summons but a collection letter stating "The above referenced loan is in default" "failure to cure may result in acceleration" blah blah blah

Should I consider this my NOD???

[justbroke]

This varies by State. In California and Nevada, the Notice of Deficiency (NOD) must be recorded in the official records, and served by first class mail and certified mail. In Florida, as a different example, the NOD is not recorded.

secondtimer, I have no idea. Is "CM" CitiMortgage? It may just be a "you're a bad boy" letter and not an actual notice of default or intent to accelerate.

[Mensa1]

It may just be a "you're a bad boy" letter

Now that is FUNNY... You're a "bad boy" letter...

[justbroke]

Now that is FUNNY... You're a "bad boy" letter...

I love the "bad boy" letters. They go like this... you didn't pay us. Please send us the money now. We are upset. If you don't send us money, we'll send more letters.

(On second glance, secondtimer's letter may be an actual notice of default since it threatens acceleration.)

[mama2three]

I checked our Recorder's website and there is nothing on there so it looks like we have more time. We are enjoying living rent free, so the longer the better. However, we do want to have some time to find a place to rent. Thanks for the help guys

[secondtimer]

CM= Citimortgage

Spoke to collections today since the "Executive Response Unit"(lol) isn't communicating anymore.

Collections guy offered me 2.55% for 5yrs, 1% per year increase after that until it reaches 7.05% in year ten for the remainder of the loan.

The "package" should be here by the end of the month.

If nothing else I held them off for a little while.

Still waiting for the mortgage fairy to come to my house.

[Mensa1]

The "package" should be here by the end of the month.

If nothing else I held them off for a little while.

Still waiting for the mortgage fairy to come to my house.

Sounds like you aren't able or going to accept this offer, from your response???

[secondtimer]

Depends on the details when the paperwork shows up.
It's really not a bad deal if it is for real.
Depends on how they handle the arrears.