! Finally ! NOD....Now what?

[sjcmCA]

My ch7 case was closed in early April but I just got the NOD (Notice Of Default) for my condo.

There are some questions I would like to clarify the upcoming foreclosure process. Any experience or suggestion would be highly appreciated.

I am living in Northern California and I need to let the condo go.

1. I have not paid the property taxes from Nov. 2009 but the County keeps sending the tax bill. As far as I remember, I don't have to pay the outstanding property taxes because the condo will be foreclosed? Am I understanding correctly?

2. If I don't respond to NOD within 30 days, what would happen next?
Do they keep sending me the certified mails regarding the default/schedules or just move on to the trustee sale 90 days after NOD?

3. The outstanding HOA dues until the trustee sale will be my responsibility. Is this correct?

4. I saw some articles regarding cash for key....Can I expect this as well?

I have cleaned the condo thoroughly and kept in an excellent condition.
Even though it will be foreclosed, there are a lot of good memories and emotions in there......

However, I am almost there to finalize my bk.....thanks always for all your supports...

[bulletproof77]

Usually, if you BK'd the mortgages, the HOA dues go with the mortgage..and that's why it's called the "nuclear option"....Taxes stay with the property and your lender will pay them. After NOD in California, usually it can be anywhere from 3-6 months before a Notice of Trust Sale. As far as CFK..that's a little iffy. Usually you have to stay in place after NTS and kind of make them choose between eviction and offering you CFK to move. If the property is clearly vacant, they just change the locks, put up their little signs and move on to the next one..And I should add, the reason you just got the NOD is that a BK stalls the whole foreclosure process and your lender was probably too lazy to ask the BK court for a relief of stay..

[sjcmCA]

Usually, if you BK'd the mortgages, the HOA dues go with the mortgage..and that's why it's called the "nuclear option"....Taxes stay with the property and your lender will pay them. After NOD in California, usually it can be anywhere from 3-6 months before a Notice of Trust Sale. As far as CFK..that's a little iffy. Usually you have to stay in place after NTS and kind of make them choose between eviction and offering you CFK to move. If the property is clearly vacant, they just change the locks, put up their little signs and move on to the next one..And I should add, the reason you just got the NOD is that a BK stalls the whole foreclosure process and your lender was probably too lazy to ask the BK court for a relief of stay..

Thanks a lot for your help...
I haven't heard about the nuclear option. Some folks here said that HOA will be owner's responsibility until the title will be changed to the bank.

I need to research more if I can stop paying HOA and avoid any legal issue with HOA.

Anyway, it would be really helpful if I don't have to pay HOA from now on.

I didn't reaffirm anything so this foreclosure process will be my last hurdle.

Oh, the bank tried relief of stay during bk but it was discharged even before the hearing date.

Thanks again for all your help!