Quote:
Originally Posted by emijec
notice of default- 90 days to pay current or vacate
trustee sale notice comes 14 days later with actual sale date. as in te sale is within the 14 day period.
there are some loan modification programs where if you apply the bank may postpone the sale .. but if at the end you don't qualify I think they pick up where they left off before.
the real estate agent sounds fishy. they're not supposed to charge you for helping you with a loan mod all. check CA law on that.
but it sounds like agent might be trying to work on a short sale... agents don't look out for buyers, that's my personal opinion. they look for commissions.
you can file bankruptcy and postpone the sale. but you need to talk to a lawyer to get advice. I can tell you generally , but I can't give legal advice
lastly even if NOd, Trustee Sale... the new owner either does an unlawful detainer or hey do cash for keys. but it depends on the owner.
that's how I've seen it.
there is life after that. you just have to rebuild credit. trying to rent .. landlord might ask for a heftier deposit but that has its legal limits, buying a new house ... like any other sale.. if you give them 20% or more they take it after rebuilding credit.
... anyone? anyone? bueller? well. if this isn't a sham and it's legit I can offer more info. I still have this stuff in my brain even though I don't work for that office anymore.
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Thanks for all the info. I'll have to show this to my husband later, but he'll probably tell me that this isn't true, or that he already knows all this. Ugh. How can we tell if this is a scam or not? And how do scammers manage to find out about who is having financial trouble, thus making it seem legit?
As for the realtor, he didn't ask for any money to help us at all. He just asked my husband to use him as our realtor if we end up selling the house in the future.
How do you know all of this? I'll talk to my husband about this tonight. He's NOT worrying about this at all, so this is a good sign. If he thought for a second that we'll end up loosing our house, then he would be stressed out too. Hell, he's even planning to take a trip with me soon out of state!
He's not insane btw, lol. He's very smart. We've been through this before, the only thing is that NO foreclosure notice was put on our door, and we didn't get any letter in the mail. I'd love to know anything that you can tell me. Thanks for your help!