How Long Between Ch 7 Discharge & Foreclosure Sale?

[Isobel]

Hello everyone -

Here's the scoop:
* filed Ch 7 July 2011, discharged last week, did not reaffirm mortgage
* home value $160-190K in a less than desirable neighborhood
* first mortgage for $270K thru Wells Fargo, transferred to NDx West in May
* second mortgage PNC Bank $35K
* notice of default May 2011
* house is in northern California

Any inkling how long it might take to get the 20-day notice of sale slapped on the door? Anecdotes? Experiences to share?

Isobel

[LadyInTheRed]

According to one website, as of August, the avereage time to foreclosure in California was 333 days. My guess is that starts from the date of the notice of default. http://www.foreclosureradar.com/fore...rt-august-2011

[Isobel]

Thanks, Lady... very, very useful website!

I.

[jacksjean]

Just thought I'd itemize my recent timeline of events - Northern California; Sacramento metro - Ocwen; Mortgage balance $265000; home valued at $140000 (Zillow)

Last Payment October 2010
Filed BK 7 December 2010
Discharged/Closed April 2011 (No lift of stay filed)
Vacated property; moved to rental home
Assignment Deed of Trust May 2011
NOD June 2011
NTS September 2011
Trustee Sale October 2011; house now REO

So from NOD to sale, the process only took <150 days.

[bulletproof77]

Yes, out here in the West, they are moving a lot faster to trustee sale than a few years ago. The "not so olden" days of a year or two rent free are rapidly going away.

[iv65536]

BK or no, the timeline depends on the foreclosure laws - perhaps we should look at this on a state-specific basis - separate single-state categories for California, Arizona, Nevada, and Florida, and other categories based on judicial vs. non-judicial states.

California would probably need to be subdivided: Riverside and San Bernardino counties in one, Central Valley in another, Los Angeles and Orange counties in another, Bay Area in another, etc.

Arizona could be subdivided Maricopa County in one and the rest of the state in another.

Florida: Duval County in one, Orange and Seminole in another, Hillsborough and Pinellas in another, the Fort Myers area in another, and Dade, Broward, and Palm Beach in another.