Thinking of walking away in arizona

[hp2002grad]

First of all I want to thank everyone for all the valuable information I have found on this website.

My wife and I filed for BK Ch7 last year and we just received our discharge. We did not include our house in the Bk and also did not reaffirm. We are thinking to stop paying our mortgage and stay as long as possible to save and buy down the line. Any suggestions or comments that could help us out? Any idea what our timeline to stay is in Arizona?

Thanks HP

[AZNoName]

Hi Hp,

We are also in AZ, made our last house payment in August. We filed BK in October and chose to surrender our house. The lender (GreenTree) was quick to file a relief of stay, but no NOD yet. We're starting to get calls from realtors wanting to help us 'sell' our house, but we're planning to live rent free as long as possible. I've seen posts that people are 18 months post discharge and the lender still hasn't foreclosed yet. Hopefully that will be us

I had a guy call yesterday and say he was from 'real estate recovery program' and that our auction date was June 4, but I checked recontrust and the county recorder and see nothing on file. Also, nothing has been posted on our door about an auction date. I think it's just another company trying to get us to sell the place.

I can't give you any idea how long it will take. I've heard some people say it's 9 months from first missed payment until the auction, but your situation is a bit different.

[hp2002grad]

Hi Hp,

We are also in AZ, made our last house payment in August. We filed BK in October and chose to surrender our house. The lender (GreenTree) was quick to file a relief of stay, but no NOD yet. We're starting to get calls from realtors wanting to help us 'sell' our house, but we're planning to live rent free as long as possible. I've seen posts that people are 18 months post discharge and the lender still hasn't foreclosed yet. Hopefully that will be us

I had a guy call yesterday and say he was from 'real estate recovery program' and that our auction date was June 4, but I checked recontrust and the county recorder and see nothing on file. Also, nothing has been posted on our door about an auction date. I think it's just another company trying to get us to sell the place.

I can't give you any idea how long it will take. I've heard some people say it's 9 months from first missed payment until the auction, but your situation is a bit different.

AZNoName,

Thanks for the info, between 9 and 18 months is what i have also heard. So just to be on my toes, I should be looking for a Notice of Deficiency along with a posting on my door and also checking in on recontrust website for definitive auction date? I am going to try my best to stay as long as possible by applying for hamp to delay the inevitable. As of today we have missed one payment with no communication from BofA as of yet.

Thanks,
HP

[AZNoName]

Hey HP,

I just found out that the June 4th auction date is the real deal. I guess Recontrust only handles BofA mortgages, which is why it isn't listed. I found the notice of trustee sale on the county website last night.

Party's over!

That makes it about 9 months from last payment to auction date.

[hp2002grad]

Hey HP,

I just found out that the June 4th auction date is the real deal. I guess Recontrust only handles BofA mortgages, which is why it isn't listed. I found the notice of trustee sale on the county website last night.

Party's over!

That makes it about 9 months from last payment to auction date.

Did you try at all to prolong the process by applying for HAMP or HARP loan mod? I dont know if you have been on the website: Loansafe.org, but they have some pretty useful information.

Good Luck
HP

[AZNoName]

I am on Loansafe, it's a good forum! I didn't bother with HAMP or anything, because our intention in the BK was to surrender the house. I didn't want to get into a HAMP ordeal with the intent to surrender on the BK, I thought it may be in bad faith or something.