I'm more stressed out than ever as yesterday we got our first ever foreclosure notice taped to our door. I'm freaking out. My husband told me to not worry about things. It says that we have 90 days left to stay here.

OMG, does this mean that we'll loose our house? He refinanced the house, so he now owes $400,000. I don't know how the hell we'll be able to get out of this mess this time! Have you ever known anyone who's been through this? If so, what happened?

We have been through this mess before to where we fell behind on the mortgage. We pulled out of it though and got on some payment plan according to him. He controls the finances and he tells me very little about what's going on. He just told me that some realtor is helping us out with making payments in return for using him as our realtor in the future.

We live in Ca. Has anyone else been through this? Does it look like we'll end up homeless soon? This is killing me! And the worse thing is that since we both have bad credit, it'll be hell trying to get an apartment if we're forced to move out. Not to mention being able to buy a house in the future will be next to impossible unless we're able to pay for it upfront in the future probably.

[TishaBuv]

Originally Posted by Shy Introvert

I'm more stressed out than ever as yesterday we got our first ever foreclosure notice taped to our door. I'm freaking out. My husband told me to not worry about things. It says that we have 90 days left to stay here.

OMG, does this mean that we'll loose our house? He refinanced the house, so he now owes $400,000. I don't know how the hell we'll be able to get out of this mess this time! Have you ever known anyone who's been through this? If so, what happened?

We have been through this mess before to where we fell behind on the mortgage. We pulled out of it though and got on some payment plan according to him. He controls the finances and he tells me very little about what's going on. He just told me that some realtor is helping us out with making payments in return for using him as our realtor in the future.

We live in Ca. Has anyone else been through this? Does it look like we'll end up homeless soon? This is killing me! And the worse thing is that since we both have bad credit, it'll be hell trying to get an apartment if we're forced to move out. Not to mention being able to buy a house in the future will be next to impossible unless we're able to pay for it upfront in the future probably.

Red Flag Alert! I am not from California, but this sounds like a scam. Call a real estate lawyer.

[emijec]

hello. I actually
worked at a bankruptcy office in CA for 7 years and can post what I saw were the options for clients facing foreclosure... or I can pm ? it'll be a long message/post

[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.

Originally Posted by TishaBuv

Red Flag Alert! I am not from California, but this sounds like a scam. Call a real estate lawyer.

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Oh wow, I sure hope that's the case! We ARE behind on our mortgage. We also got an official letter in the mail. How can we tell this is a scam for sure?

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!

Originally Posted by emijec

hello. I actually
worked at a bankruptcy office in CA for 7 years and can post what I saw were the options for clients facing foreclosure... or I can pm ? it'll be a long message/post

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First of all, disregard my question about how you know all of that. I'm having trouble focusing right now. I don't mind reading a long post, especially since it might help us out! You can do either, but maybe it's best to post a response here so that anyone who is going through this, or who might go through this nightmare in the future can be helped in some way too. Thanks for being so helpful! I really appreciate it!

[emijec]

Originally Posted by Shy Introvert

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Oh wow, I sure hope that's the case! We ARE behind on our mortgage. We also got an official letter in the mail. How can we tell this is a scam for sure?

well... there should be a telephone # listed and a Trustee sale no. (T.S. xxx) you call and can check with a person or their automated system. depends on who's handling the sale.

you can also check with the County Recorder's office . all documents that get recorded against the property like tax
liens, mortgages, judgment liens, mechanic's lien, get recorded there. by state law Notices of Default and Trustee Sale notices get recorded too. in the 7-8 years I've worked in he bankruptcy law office did I see only once and advertisement disguised as a notice of default. my boss called and yelled at the agent . but if they posted that on your door, I would take it seriously. I would just check it myself.

CA state law is also specific about whether you will be personally liable for mortgaged. purchase money loan, refinanced loan, home equity loan. there are tax consequences .

the rest of the stuff I know is bankruptcy... so. if you want to walk away from the property that's an option, if your goal is to save the house and you need to catch up on past due balances there are several options in bk. or even if you start off wanting to save the house, get in bk and then change your mind , there's an outcome to that . there are so many variables that get considered, bk can get complicated bc of a person assets and liabilities.


the rest of the stuff is bankruptcy

Originally Posted by emijec

well... there should be a telephone # listed and a Trustee sale no. (T.S. xxx) you call and can check with a person or their automated system. depends on who's handling the sale.

you can also check with the County Recorder's office . all documents that get recorded against the property like tax
liens, mortgages, judgment liens, mechanic's lien, get recorded there. by state law Notices of Default and Trustee Sale notices get recorded too. in the 7-8 years I've worked in he bankruptcy law office did I see only once and advertisement disguised as a notice of default. my boss called and yelled at the agent . but if they posted that on your door, I would take it seriously. I would just check it myself.

CA state law is also specific about whether you will be personally liable for mortgaged. purchase money loan, refinanced loan, home equity loan. there are tax consequences .

the rest of the stuff I know is bankruptcy... so. if you want to walk away from the property that's an option, if your goal is to save the house and you need to catch up on past due balances there are several options in bk. or even if you start off wanting to save the house, get in bk and then change your mind , there's an outcome to that . there are so many variables that get considered, bk can get complicated bc of a person assets and liabilities.


the rest of the stuff is bankruptcy

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Thanks again for the info. I wish that I could tell you what my husband has planned as he STILL has NOT told me anything yet! He just told me that realtor guy is taking care of things and that he didn't talk to him yet. I detect B.S here.

He got mad at me last night for bringing it up. He told me that it was late and he'd hungry and needs to eat and that he doesn't want to talk about it. WTH? I'm his wife, so I don't get why he is keeping this information from me! It's making things much worse for me, not knowing what is going on!

I'm guessing that he thinks he has it all under control since we've been behind on our mortgage before, and he was able to work out some payment plan I think. Or maybe he paid whatever he owed the bank in time, idk for sure.

It would be stupid to walk away from a house that we invested so much in. And I hope he knows that. I think that he does. And to make things worse, we have two cats, and most apartments don't even allow any pets!

Is there any way that we can get out of this mess? He did tell me that he refinanced the house or something like that so now we owe $400,000 for the house. He has around $20,000 in the bank, so if he makes up for a few months payments, can our house be saved? I sure hope so! Our monthly mortgage is $2600.

I'd appreciate anymore help that you can provide and if there are anyway that we can save our house.

I'm thinking about going on gofundme.com and hope that I'll be able to raise enough money to save our house in time. It'll be humiliating, but I don't feel like I have much in the way of options. I doubt that my dad can help us out. He might be able to help us a little, but he doesn't have all the money that we need for sure.