General Area in 92584>Question Details

Jes1978, Home Owner in 92584

My ex husband and I have been trying to forclose our home in Menifee since 2008 but the bank won't foreclose. What are we doing wrong?

Asked by Jes1978, 92584 Wed May 2, 2012

Bank of America is the lender now and they will not let us foreclose. Is this normal? I just want this house gone and off of both of our names.

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Is this home still for sale?
1 vote Thank Flag Link Mon May 7, 2012

My guess is that they are they don't want to stop receiving the servicing money they get on that loan. You could short sale it if you're ready to walk away as this is a lot better solution for you. I just sold a short sale in Menifee and would be happy to speak confidentially to you and your wife.

0 votes Thank Flag Link Mon Aug 27, 2012
Sell it to me via short sale. I negotiate with the lender.
0 votes Thank Flag Link Mon Aug 27, 2012
Wow! That's quite impressive. Can you contact me? I have some questions.
0 votes Thank Flag Link Mon Jul 9, 2012
Bank of America is one of the banks involved in the 26 billion dollar forclosure settlement. They have a lot of illegal documents that they are now facing the consequences. I know this as Bank of America refinanced my second mortgage, when I was not even working.They wrote off the second mortgage in my Chapter 7 bancruptcy. There are too many homes that are in forclosure, the bank does not want the house. I live in NJ and my Chapter 7 bancruptcy was discharged in November of 2008. My first sheriff sales was in April 2010 and it's been postponed, and now cancelled in Jan 2012. My paperwork is robosigned, from the banks to the attorneys. My servicer at the time was Chase. Beleive it or not, they sold this loan to Ocwen in April of this year!!!! I can't make sense out of it and I know what you are going through. On one hand I am thankful that I have someplace to live still. However, I have been living in limbo for years and it is very stressful. If you call the bank, I believe they should be able to do a deed-in leu of forclosure or a short sale for you. Good luck
0 votes Thank Flag Link Mon May 21, 2012
Did you declare chapter 7 bankruptcy and include the mortgage? Many times I have noticed in this case the lender can take many years after the BK to actually foreclose.
0 votes Thank Flag Link Sun May 13, 2012
When the laws change? Whatever happened to expost facto?
0 votes Thank Flag Link Sun May 13, 2012
Hi Jes1978

Regret to hear of your problems.

The Bank is waiting for market to improve and also present laws to change.

Then they will foreclose and come after you for deficiency judgement when laws change.

Ask your divorce attorney to refer you to a RE Lawyer.

Good luck.

0 votes Thank Flag Link Mon May 7, 2012
Without having all the information it is impossible to provide a black and white answer but I will certainly take a shot at it. First off did you contact the bank back in 2008 to discuss your options such as deed in lieu, loan modification, etc? The banks have come a long long way since you begain the process so I would be curious if you have had any postponements. If you have already had 3 or more postments and are at least 18 months behind on payments it may be that a short sale is not an option, but this also depends if there is currently a foreclosure date scheduled. Do you know the answer to this? Also, You mentioned ex-husband. Could there be something going on with your divorce situation that is interfering with the foreclosure?

It might be worthwhile to sit down with an experienced pre-foreclosure agent that can go over your situation in more detail. There are many variables that can come into play and no two transactions are identical. If you sign an ARC (Authorization to Receive and Convey Information) form, an experienced pre foreclosure agent can contact the bank on your behalf and get some answers for you. If you need help, give me a call or email me. I am a local agent here in Menifee.

Sherry 'K' Kotvis, MS
0 votes Thank Flag Link Fri May 4, 2012
Hi Jes1978,

Why won't B of A let you foreclose? They've actually told you this? I'm going to assume you've stopped making payments since you mention foreclosure. Have you considered doing a short sale? Would you and your ex both be available for signing all paperwork? B of A might be more intereste in you doing a short sale than foreclosing. A short sale is also less damaging to your credit. And, if you haven't stopped making payments, you don't need to to have a short sale approved by your lender - you just have to have a provable financial hardship.

Here is a link for more information on short sales:

If there is anything further I can assist you with, please feel free to contact me. And, if you decide to do a short sale, I can assist you with that also. I am a Certified Distressed Property Expert (CDPE).

Good luck.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Wed May 2, 2012
We dont normally hear this from homeowners but it brings up a legitimate concern. If you were able to short sale, foreclose or do a deed in lieu of foreclosure back in 2008, you would have 4 years of rebuilt credit.

Bank of America is backlogged with foreclosures. It can take years for it to go through, though 4 is more than I have seen. Not to sound repetitive but why not do a short sale? Youll have control of the move date, you can probably accomplish this sooner than the actual foreclosure, the bank will possibly give you moving money and, if you want to buy again, you can in as early as 2 years.

There are many excellent agents here in Menifee. I would be happy to help you. Regardless, If you do want to close this chapter sooner than later, I would recommend speaking with a local Realtor.

If you have any questions regarding your foreclosure date or short sales, feel free to call or email.

Dan Evans
Menifee Realty
0 votes Thank Flag Link Wed May 2, 2012
Banks foreclose. Owners get foreclosed on. It sounds as if the B of A won't accept back a "deed in lieu of foreclosure". They will get a lot more tractable if they have reason to feel someone might stop making payments. I am not counseling you to to do that as it would wreck your credit, but if they felt it might happen, maybe they would shift their thinking... The bigger the bank is, my experience has been that the more difficult they are to work with (with exceptions) and the more bound they are by "one size fits all" rules.
0 votes Thank Flag Link Wed May 2, 2012
Maybe they'd prefer a short sale. Banks lose less with a short sale , it is generally the responsible thing to do. You don't pay for my service and I handle everything. Your hardship is the divorce, very legitimate.

Please call me at 951.742.3751 to get started.

Jory Blake
Web Reference:
0 votes Thank Flag Link Wed May 2, 2012
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