How long till evicition?

[Canyonguy]

Indy bank said after 35 days of non payment it shows up on main credit report as a default in Mortgage.
After 90 days a general default letter goes out to you that says after 30 additional days they will start foreclosure.
Question : What steps happen next and how long will each one take?

[keepmine]

This depends on what your state requires of lenders in the foreclosure process.

[memphisbk66]

I had Indymac bank as my mortgage lender. When I lost my job early last year, I could not afford my mortgage payments so I missed a payment and called them about the circumstances. They were understanding and told me that it will not show up as late on my credit report until 60 days later. At about that time, we decided to sell the house and Indymac approved us for a short sale. At the 90 day mark, they sent out the default notice to us. After the 150 mark, we decided to move out and restart our lives in another state. At that time, we had the foreclosure notice but was never served papers. That is when I checked my credit report and saw that they started the court proceedings to foreclose on the house. It wasn't until the end of 2008 that we decided to go the bankruptcy route. They were not pleased that the automatic stay prevented them from furthering the foreclosure process. They tried to ask the judge to remove the automatic stay but were denied (I don't know why as we did not object to them taking the house. Oh well.) We were never told orally or by letter that we had to move out of the house. Ever since they went belly up back in July 08, they had a tough time getting their act together but it looks like they are finally getting around.

My advice is to read all their correspondences and talk with your attorney.

[Canyonguy]

Thanks-I am just going to walk and not file anything. Anyboday else out there know the typical scenario?

[brokenbuthealed]

Thanks-I am just going to walk and not file anything. Anyboday else out there know the typical scenario?

What state are you in? That's what will determine it.

[Canyonguy]

California