If you are interested in their help feel free to contact me and I'll get you in contact with them.
And on a side note, my husband told me this weekend about someone who had quit paying their mortgage about a year ago and has still not heard from them looking for their money.
Domaine Real Estate
We've been reading about lenders simply not moving to take properties back, especially in the most distressed areas of the nation. This prompted me to dig out and read carefully the note recorded against my own personal residence - and sure enough the language is very clear that the lender "may" initiate foreclosure proceedings in case of borrower default, but by no means "must" the lender initiate such proceedings! Here's an interesting web article from a bankruptcy attorney in Kansas City:
Truly, bank behavior belies logic in these times. There are so many factors at play in their decisions (or, conversely, their indecision) at this time - most of us players, whether we be the borrowers, Realtors, or mortgage brokers - are small pawns on a much larger game board. I truly wish you the best in this really rocky scenario for you --
We expect a big wave of foreclosures to happen in the next 30-60 days. Have they filed a NOD or Notice of Default on your property? When that happens you'll have 122 days before your house is sold at the Courthouse steps. Until the NOD is filed you are not officially IN FORCLOSURE!! Have they made ANY movement in reducing your loan amount to effect a sale?
Since you have not made any payments in 8 months you at least are in a savings plan so when you do have to move you'll have money to do so. If they have NOT filed the NOD then cool your jets and relax and save your former house payments for a new move. Once it's filed you'll have over 4 months to get out.
With Your Success in Mind,