July makes 4 months of no payment...

[eventsdj]

and I havent heard a word. We are in Wisconsin.. have BOA for a 1st ($188000) and 2nd ($31000)

I am following the "let sleeping dogs" policy of NOT contacting them.. but I am wondering if this is normal for this area?

I still get my payment coupons, and it dosen't even indicate a missed payment!

Confused (but not upset!)... any input?

[Billssuck]

Still right there with you (but in Missouri) timewise...Haven't heard a peep out of BoA yet. Waiting on paperwork to show up to start the relief from automatic stay; I believe that will be first and then the NOD. That's when I'll start taking pictures off the walls and downsizing and cleaning out stuff to be able to move.

[badhouse]

I'm 128 days behind on my Mortgage payments in Oregon. Bank of America has taken no action against me yet either. It's odd, Oregon is a non-judicial state and my HOA and property tax bills are both really low. It won't cost the bank much to hold my property in REO, so I assumed they would take swift action. I told the bank to just go ahead and foreclose after my first collection call 4 months ago.

I really can't understand why they would risk the house loosing more value while they wait. All I can figure is that Bank of America would rather use it's limited resources foreclosing on its own properties before going after the loans it simply services.

I wish they would just get it over with. I have already arranged alternate housing and it won't really cost me anything more then it costs me to maintain this place while waiting for the bank to foreclose. I would just like to get on with my life.

[bulletproof77]

It took Bank of America 18 months (start to finish) to FINALLY take my house back..You all have plenty of time..The banks are in no hurry. BUT they will get around to you eventually..First the phone calls ("When can you make a payment ?")...Then a bunch more calls. Then, the "We think you qualify for a loan mod BS"..(No, you don't)...Then the spiel about a short sale (Another utter waste of time)..Finally, you will get like 10 copies of the NOD..Then you sit for another 6 months before anyone remotely thinks about sending you a Notice of Trust Sale..Then, you can at least start planning. Depending upon your state, your mileage may vary..

[nervous1]

Does anyone know if the bank acts faster on HELOCS? In addition to our monthly mortgage pmt., we have an equity line? Not late yet, but SERIOUSLY considering stopping payment since don't see how we can continue to make pmts. anyway. I've been told that I should stop since I'm throwing away good money at this point.

????????????????????????

[LoadedGuns]

Does anyone know if the bank acts faster on HELOCS? In addition to our monthly mortgage pmt., we have an equity line? Not late yet, but SERIOUSLY considering stopping payment since don't see how we can continue to make pmts. anyway. I've been told that I should stop since I'm throwing away good money at this point.

????????????????????????

You answered your own question. Stop paying.

[slam22]

We are now in our 28th month of non payment and still no NOD from BofA.

[nervous1]

We are now in our 28th month of non payment and still no NOD from BofA.

What has happened? It's amazing that you not paid for over 2 years...wonder if that's the case just in your area. I have BofA also.

[DeadManCrawling]

We are on month 21 of nonpayment to BoA.

Not much action. They filed the lis pendens a year ago, but that is more of a legal requirement and formality they have to do.

NoD came last October.

They got around to requesting the lifting of the stay last month. I doubt they will do much even with that. They seem utterly uninterested in pursuing this, and it appears more likely that their law firm files something from time to time just to keep billing them for hours spent.

I seriously will be surprised if the FC is complete in another 12 months.

[ryan]

Have to say many of these reports of non-paying but no foreclosure action are very state-specific.

It may be true in Cal or FL or Las Vegas, for instance, but this is not happening everywhere.

In IL, FC are proceeding at a rapid pace. I've sat in court and watched 40+ houses be FC'ed in one morning alone. I've researched and most banks including BofA are taking almost exactly 8 months from FC suit filing date to FC sheriffs sale date.

IL is a judicial state so its going to take a awhile anyway, but I see no hesitancy on the the part of big banks to FC and do so right on schedule.

[mrskal]

So how long approxiamtely do you have in Illinois once they actually foreclose? I received Notice of Intent on June 7, that is the last I heard, except a couple of phone calls that I did not take. Does it depend on the bank? Mine is US Bank, and I have not read to much about them on here.

[avmarathe3]

Does anyone has experiance with US Bank in the city of Las Vegas, NV.

[ryan]

So how long approxiamtely do you have in Illinois once they actually foreclose? I received Notice of Intent on June 7, that is the last I heard, except a couple of phone calls that I did not take. Does it depend on the bank? Mine is US Bank, and I have not read to much about them on here.

Well, if you have not received a Notice of Default, then they have not even filed the FC suit. So, in IL you have quite a while. From the time of FC suit filing date in IL, in my district, it has been running on average 8 months to FC sale date.

Factors that could affect this are many, such as banks present inventory, likelihood your home is quickly resell-able, if you mount a defense, etc.

[mrskal]

Thanks ryan, I am moving so dont really care as long as I have at least until Sept 1st. I would really like to move in October or November.

[calgirl67]

We are now in our 28th month of non payment and still no NOD from BofA.

28 months and NO NOD?? Holy cow I think you have the record. I've seen posts quoting 21 mths but 28?