Anybody experience cash for keys with BOA?

[confident]

Yes, you are liable for post-bk HOA fees. I've seen some where they're attached to the property and the bank eventually pays them at foreclosure sale, however, if the HOA wants to pursue you for them they can.

You're right, thanks. This is exactly what I was advised as well.

[lorrieduke]

Confident - Yes the Trustee Sale was July 13, 2010. I went to the courthouse and on the steps were a small gathering of people. Most looked like professinals (suits and skirts) with clip boards in hand. There was a gal with a list of all properties up for auction that day. She said the property address, name of person/persons who held title, who held the note and a starting bid amount which I might add in our case was hundreds of thousands more than what the property was valued at. When nobody placed a bid she said something like it was going back to the bank (can't remember her exact words.) It was fast, under 3 minutes then she moved on to the next property. I am from California too so the process should be similar for you..

anyway -
I got in my car and drove back home to the house I just lost. :-( We didn't know what to do next but an attorney told me they couldn't just throw us out in the street the very next day. He said the bank had to follow all eviction laws and there was a process which by the way you don't want to let happen since nobody will rent to you with an eviction on your record. The attorney told us to sit tight after the Trustee Sale because someone representing the banks interest would probably contact us. So we did and it was only a couple days later when the gentlemen from Prudential showed up and offered us the options.

All I can say is this - Don't be afraid. Everything will be ok. If you are like I was this whole process is weighing heavily on you now. For me it was anxiety, stress and sleepless nights but guess what? I'm okay and you'll be okay too. Just hang in there and don't forget to smile. :-)

Lorrie

[confident]

Lorrie - thank you for the detailed account of the trustee's sale. I've never been to one and don't think I'll go to ours but now we just want it to be over. Unfortunately the uncertainty goes both ways. Thank you for the last part of your message and I know you are right. Everything is going to be okay. We need to stay confident.

Take care.