MuteDebt

First Foreclosure notice

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HI

I have a friend of whom got his first foreclosure notice. What can he do to stop this if any? Please help I know nothing about this. I'm in another forum with my own problems. He doesn't have internet. Thanks for any help.

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I am not familiar with CA laws on foreclosure, but I can give some insight because I have been fighting against Big name OC for almost 3 years (pro se). I cost OC more in legal fees than the home is probably worth ! They got two law firms against me (one in-house another debt collector). It must have cost them at least $100K if not more.

 

I did revenge b/c OC would not work with me, finally last week a truce letter  came in the mail, now it's beneficial for me to work with OC.

 

If your friend can work out loan modification then do it HAMP is one of them.

If he has lost his job these government  organizations will work with him and creditor on a deal if he wants to keep his home.

Your friend can short sale/ or do cash for keys.

Does he have any equity ?

 

Tell him don't stress, when I got sued in 2010 there was not much help for home owners,now there are plenty of government help, but please be careful to use only the entities  who are authorized not some ad in news paper or some crook (one called me on behalf of investors , I said to him and I am carolyn Kennedy, he hung up).

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Some resources to look into (with item 1 a top priority)

 

1.  HUD-approved counselors  (search online)---NACA included --- call them ASAP.

2.  Check on your state's foreclosure mediation.

3.  Foreclosurelegalassistance.org

 

Have seen loans <359K may qualify for government programs.  HUD - counselors have all this info.  They are free-service.

 

 

Hope this helps

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HowUcan2 and HomeschoolMom thank you so much. I will look up that info for him. He has been in the house 2 years. Does that equate equity? I don't know much about this stuff at all. He seems to think he should just sell the house. I think it is probably under water and won't sell for what he paid for it. Yes he is unemployed and ran out of unemployement 2 months ago. He is making some money with odd jobs as he used to do hotel maintanace and is pretty much a contractor without the license. I think he is only behind 2 payments seems weird to me because I have a friend that is behind more than a year and didn't even try to pay. Tonys missed payments are a few months ago and he has been paying?

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I am not familiar with CA laws on foreclosure, but I can give some insight because I have been fighting against Big name OC for almost 3 years (pro se). I cost OC more in legal fees than the home is probably worth ! They got two law firms against me (one in-house another debt collector). It must have cost them at least $100K if not more.

 

I did revenge b/c OC would not work with me, finally last week a truce letter  came in the mail, now it's beneficial for me to work with OC.

 

If your friend can work out loan modification then do it HAMP is one of them.

If he has lost his job these government  organizations will work with him and creditor on a deal if he wants to keep his home.

Your friend can short sale/ or do cash for keys.

Does he have any equity ?

 

Tell him don't stress, when I got sued in 2010 there was not much help for home owners,now there are plenty of government help, but please be careful to use only the entities  who are authorized not some ad in news paper or some crook (one called me on behalf of investors , I said to him and I am carolyn Kennedy, he hung up).

Hey

If he isn't able to get this resolved I may be contacting you for more info on everything you needed to do. Thanks

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Google California Foreclosure Process and note these important timelines (need validation as I did Loan Modification in 2010-2011 and need refresher at this point):

1.  2 months missed payments - Demand Letter from Mortgage Servicer

2.  3 months missed payments - Report to Credit Bureaus, then on the 4th month - Notice of Default (Start foreclosure process)

3.  From date on Notice of Default to Sale ---takes 180 days

 

So, at this point, he has time in his hands to work with a HUD-counselor to explore foreclosure preventions if he wanted to stay at his house.

If you need more info - you may email me directly at emmadixon2@gmail.com

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In my case after 3 years of court battle, the prices went up in my area , lender /servicer sent a notice agreeing to short sale and cash for me to move. I got an attorney who is going to send a short sale agreement to the lender and it will not cost me a dime for his service. (Lender pays both realtor and lawyer).

 

Keep in mind there are many things that can delay foreclosure and  extend the stay. I chose to battle in court, file motions,respond to theirs, schedule hearing, file extension of time, you name it. Granted you are in judiciary foreclosure and a court is involved.

 

My defense was flawed, but amendment was granted 4 times, don't ask me why, but I can only think of it as divine intervension. I think the judges involved also know that lenders are not the real party of interest and they tend to be more cautious.

 

I don't personally recommend fighting foreclosure pro se if one wants to keep his/her home, laws differ than  credit card defense and alot of research is needed.

I didn't care , I had plenty of time to practice and nothing to lose , no equity, no second mortgage, no job, no income, nothing but time.

I can say I came out much better than if I had to hire a lawyer to defend me, that  case I would've been out in about six to nine months.

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Like howucan2 I have been fighting my mortgage company for 5+ years now. I have made many mistakes and missed many opportunities, but all in all I have been very lucky and had open minded judges. I wish I had found this website sooner, it lays out what to do step by step and has tons of great info: www.foreclosureprose.com. I am going back now and trying to re-do my case. 

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In the instances of the mortgage not being paid, are the property taxes being paid or not?

If not, how is this affecting you?

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Mine is in escrow.

 

I believe In CA the bank can't recover deficiencies, in my state it can.

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