Wont waste time on Mod - Time to move on.. try cash for keys?

[tobee43]

screentest, thanks for all the info on CASH for KEYS.... i just wish they had offered it to us, but from what you're saying...we left prior to any trustee's sale because we live in a judicial state...and i think unless we were an asset case the trustee would not get involved??? (that's a question)....

or would it work the same way in a judicial state but just when it went up for sheriff's sale??

[tobee43]

oh! and i forgot to add...i did know someone in new jersey that the bank actually gave them 3k to leave...but that was about 4 years ago, prior to all this mess or CforK was even spoken or thought about...but they did give them money...and the following year they were able to even get a mortgage...so you know it was before these hard times!

[helpme2010]

tobee, I am in a judicial state and my attorney is saying to hang in after the sale and get the cash for keys deal. I am thinking of being like the Beverly Hillbillies, squatting in this home, armed with my guns and stills. Yeeeeee Hawwwww, try to remove me.

[tobee43]

tobee, I am in a judicial state and my attorney is saying to hang in after the sale and get the cash for keys deal. I am thinking of being like the Beverly Hillbillies, squatting in this home, armed with my guns and stills. Yeeeeee Hawwwww, try to remove me.

well....if youa re in a judicial state...you should be able to go to court and stall.......and stall...it's the non-judicial states that usually one has no control...that is unless the trustee is selling the house because you were an "asset" case??

[screentest]

Hi Help,
We are in a non-judicial state (ca) with a rarely if ever used Judicial option. California forecloses on residential properties through trustee sale not court hearings etc. This is why in some cases they can be so quick to get us out while others languish for years without a final FC.

Hang in there for cash for keys and buy yourself a chocolate rose for all your trouble!

ST

[helpme2010]

well....if youa re in a judicial state...you should be able to go to court and stall.......and stall...it's the non-judicial states that usually one has no control...that is unless the trustee is selling the house because you were an "asset" case??

tobee, my apologies, I meant to say non-judicial state. As screentest states, California avoids the courts and goes straight to a trustee sale. It is a bit scary and stressful to walk outside your door and see a notice taped to it saying, "surprise, in 2 weeks we are auctioning off your house". I know you still get a little time after this, but that is a short time table to work with.

If you were an outsider, not familiar with unemployment, bk, foreclosure, etc. You would simply say, hey go get a job and go get a new place to live in, how hard is that. But you and I and most people on this board know it's much more difficult than that.

[CCsAreEvil]

My parents are advising me to try to do some sort of loan mod. I guess there's a new thing called "shared equity" where instead of the old traditional method of just paying off your mortgage loan with the sale and the owner gets the rest, it's now shared/split with the bank. I don't know which banks are actually doing this. It's an interesting concept.

However, I'm still getting people saying we should definitely try to see what our options are. Of course, it seems that anything we want to try has to go through the local lawyer business entity CitiMortgage appears to use for foreclosures in Phoenix metro. Everyone keeps saying it can't hurt. I'm ready to leave, and the loan mod process (and paperwork involved) seems huge/a hassle.

Also, our trustee sale date is in April, but I'm also getting advice from some friends saying I should be able to stay maybe 30+ days at least still then. On the contrary, quick google reads say they can get the sheriff to evict within 5-10 days. Who knows.