Booklover553, Other/Just Looking in Dayton, OH

I am in foreclosure and expect a summary judgment any day now. DO I still have to keep the utilities in my name after the judgment or can i switch it?

Asked by Booklover553, Dayton, OH Wed Feb 10, 2010

over to the bank. The house has been vacant for two years and was unable to sell

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Lance Martin, Agent, Dayton, OH
Mon Jan 21, 2013
Hello, you should contact your lender first and see what they advise you to do. Until the foreclosure is done, you are still responsible for the house and should be trying to sell it. There are a number of organizations in the Dayton area that can help you with questions regarding the foreclosure process and I can help you find them. Call me anytime at my office 937-238-7933.
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Susan Blanfo…, Agent, Kettering, OH
Wed Oct 12, 2011
I just read the other two answers. Do not do a deed in lieu of foreclosure until you know what your options are first. If you need more information, call me. I have done a lot of community work on this subject and have many other contacts with whom I can refer you.

As a real estate agent, we should not be recommending what you should do. We should refer you to someone who is certified to help you. Programs and regulations change rapidly and new programs have recently been introduced. You must go to an expert who deals with this on a regular basis and I can't stress enough for you to call CountyCorp. Good luck!!
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Susan Blanfo…, Agent, Kettering, OH
Wed Oct 12, 2011
Before you do anything you should call a certified HUD counselor for advice. The one I highly recommend is CountyCorp, a division of Montgomery County offices at 937-531-7054. There is no charge. Do not do anything until you meet with them. DO NOT PAY anyone to help you. You have many options available, but stay in your home and change nothing until you speak to them. I cannot emphasize this enough. Good luck. If you call CountyCorp, you'll be in the best hands with the best advise and best action available.
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Bob Movin-On, , Hartford, CT
Wed Feb 10, 2010
Was this your primary residence? Why are you just letting it go? Banks are mandated by the government to work with homeowners and believe it or not we have been able to use this in court getting judges to avert foreclosure and force mediation. I would get proactive and call your bank now, foreclosure is a life changing event.

Here are some of the ramifications of foreclosure, short sale or deed-in-lieu-of-foreclosure, there are many more like your job, yes employers are checking credit records these days.

Your credit score will be reduced by 200-400 points, short sale a little less 100-200 points.

All forms of foreclosure stay on your credit report for 10 years.

After you have gone through foreclosure, short sale or deed-in-lieu-of-foreclosure there will be what is known as the "waiting period", this period of time varies for each and can be reduced if you had some type of extenuating circumstances that caused the foreclosure:
Waiting Periods to Buy After Foreclosure
* Buying After a Foreclosure
The waiting period is 5 years up to 7 years.
* Buying After a Foreclosure with Extenuating Circumstances
The waiting period is 3 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure
The waiting period is 4 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure with Extenuating Circumstances
The waiting period is 2 years up to 7 years.
* Buying After a Short Sale
The waiting period was just upped from 2 to 3 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It's a reason to stay current on your payments while the home is on the market as a short sale.
In addition to the waiting period, most loans require a minimum down payment of 10% and a minimum FICO score of 680. The home purchase must also be the principal place of residence, not a rental nor a vacation home.

Lastly, most loan applications will ask the dreaded question "Have you ever been foreclosed on?" this stays with you for life, many think that because it will not show up on the credit report after 10 years they can answer "no", well lying on a loan application is a felony that carries a major jail term, so be aware.

Want to get your life back in order and into a home? Want to live in your future home while we get you approved? We have a program that does just that “gets you approved”. “Get Started Now” and cut your “waiting period” in half. Visit for more information.
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Scott Godzyk, Agent, Manchester, NH
Wed Feb 10, 2010
If it is vacant why do you have the utilities on? You should simply contact the bank and tell them you want to complete a deed lieu of foreclosure and sign it over to them. You should not have abondoned your property as teh bank could have assiste dyou with a short sale or loan modification which could hqave kept you in the house. If teh bank will not take teh house by deed of lieu as you are in legal proceedings, tell them it is vacant and tell them you wil gove them access to secure it and winterize it so you can shut off the utilities. You can not put them in anyone elses name espeically without permission. Call your bank and let them know....
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