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I responded in your other thread about how the letter you received is actually a new requirement for the banks who hold mortgages in Washington. Once a mortgage is in default the banks have to send out this letter offering the homeowner the opportunity to meet and confer with the bank representative to try to find solutions cash loans online no credit check to help payday loan fast the homeowner get caught up in payments, look at whether a modification can be done, etc. We recently got this letter first by regular mail and then by certified mail. Follow the strategy laid out by Tom Eason on how to settle a 2nd mortgage, and follow his advice.

Of course, after we missed our payment they were more than willing to negotiate to help us make our payments. We eventually filed for bankruptcy and relinquished the home. It was nice to not receive the daily phone calls at that point. At this point, I am not even sure if we could afford rent to be honest. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I currently have a house in the Kent area and I have recently relocated to Texas.

I decided last month to make the last payment but my situation payday loans no credit check no employment verification is a little tricky.

I am not underwater at all I owe 247K on 1 mortgage and the realtors told me they would put it up for 310 to start which after all fees would net me about 40K.

I have a renter currently whose lease expires in March of next year. Here is my thoughts Stall foreclosure as long as possible by playing the HAMP game and whatever other types of games I can play while I collect the rent money... Then do a traditional sale of the house next year around this same time as this will obviously override any foreclosure actions taking place and subsequently pay the loan off. Once that is all said an done I will file a BK 7 and start at square one here in Texas. What is the current timeline of foreclosures running? But, Is it possible through playing the HAMP game and other games to run that out for about 15-16 months? I am prepared to do a chapter 13 if necessary as i know that will stall it out a little bit and buy me more time cash loans online no credit check but ideally I would like to do a 7 once its all said and done and at the same time not screw the renters over either... Why not leave the renter there and continue to pay mortgage then sell it next year. Value will likely to continue to climb especially of in Kirkland. Why screw your credit for 10 years over this unless you have other mounting financial issues.

I went 18 months without so much as a Notice Of Default. Your plan will still allow notices to be mailed to the rental property and posting of cash loans online no credit check defaults etc...

Why not leave the renter there and continue to pay mortgage then sell it next year. Value will likely to continue to climb especially of in Kirkland. Why screw your credit for 10 years over this unless you have other mounting financial issues.

I went online payday loans michigan 18 months without so much as a Notice Of Default. Your plan will still allow notices to be mailed to the rental property and posting of defaults etc... Well, I have officially made my last payment to Wells Fargo. Can anyone walk me through the next steps and what to expect? Bottom line at some point you will get a notice of default NOD after that comes notice of Trustee Sale. You should have at least a year of free rental income. I was surprised I got approved for a bigger loan owing so much on the other but I guess banks are taking more risks now. My worry is that if a lien was put in the property that the bank may have to sue me. I am looking to connect with awesome human beings who have mortgages on property in Seattle proper.

I want a space to live in (within the next 3 months) and another to create art (before the end of this year). So folks who are ready to transition and ready to walk out... Since we need to move out of payday loans as seen on t v state that means switching school right before the end of the year. One thing that was a bit of a surprise - maybe this is new - is that tenants get 60 days for eviction but owners only get 20 days. Trying to envision how this transition is going to happen is kind of blowing my mind right now.

That being said, I can tell you what happened for us. Our cash loans online no credit check trustee sale got rescheduled SIX times, each about 3 weeks apart.

So we assume the reason for the multiple reschedulings is they were unable to sell it each time.

ITS incredibly frustrating Sorry for the unfinished post! The last attempted auction was in July and then no word, just the usual monthly statements. Now this week out of nowhere, 6 months later, we get a new notice of trustee sale for April. Just get a copy of the listings - someone will have them at a table. Try to listen and see if anyone bids so you know if it sells.

If not, you know you have at least another month or longer. If your house is in a hot area like Seattle, it may sell easily. The area we live in does seem to be growing more desirable - which may be why they finally decided to go forward with the auction. I was under the impression that if the home does not sell at the auction the bank then owns the property, not the occupants.


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Previously, there was no specific timeline to respond to such a request in the state of Washington. Lenders must now provide foreclosure trustees with quotes within this timeframe. If the sale is continued for up to seven days, notice of the new sale date shall be sent by regular and either certified or registered mail not less than four days before the new sale date. If the sale is continued for more than seven days, written notice is required to be sent not more than three days after the date the continuance is cash loans online no credit check called. The cost of continuances will be increased due to the additional notice and service. Maybe they are allowed to schedule multiple auctions. We had someone wake us up this morning pounding on the door. How can I figure out if it actually sold at the auction? How can I figure out payday loans for bad credit direct lenders if it actually sold at the auction? Update on that: The property indeed did sell at auction. Seems I get different information everywhere I look.

On this forum in 2012, some folks mentioned that there are none due to the non-recourse nature of our state. Has anyone got a fat tax bill after their foreclosure? Based on my understanding, there is no tax implications on foreclosed property in Washington state if it was a non-judicial foreclosure. This will also prevent the lender who forecloses from seeking a deficiency. The most common situations when cancellation of debt income is not taxable involve: loans in baton rouge Insolvency: If you are insolvent when the debt is cancelled, some or all of the cancelled debt may not be taxable to you. You are insolvent when your total debts are more than the fair market value of your total assets. Insolvency can be fairly complex to determine and the assistance of a tax professional is recommended if you believe you qualify for this exception. Certain farm debts:If you incurred the debt directly in operation of a farm, more than half your income from the prior three years was from farming, payday loans online no credit check direct lender payday loan same day and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income. The rules applicable to farmers are complex and the assistance of a tax professional is recommended if you believe you qualify for this exception. That is, the lender cannot pursue you personally in case of default. Forgiveness of a non-recourse loan resulting from a foreclosure does not result in cancellation of debt income. However, it may result in other tax consequences, as discussed in Question 3 below. Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. We got a notice on the door saying This home is now owned by Fannie Mae and there was information about relocation assistance. They gave a phone number for a local real estate agent to inquire about relocation assistance. When she inspected, she walked through each room, checked cabinets and made sure appliances that came with the home (stove, microwave, dishwasher) and light fixtures remained.

It took all of 5 minutes, then we signed a paper saying we agreed not to sue the bank and she gave us a check! The insurance company got notice it had changed owners and called us about cancellation.

I cashed the check and will sit on it and see if the bank contacts me. Thank you to everyone on Loan Safe for your help throughout this painful process. To anyone else considering a walk, here are a few lessons I learned: 1. We stopped paying ours when we moved out, because the auction was only a month after the dues were due. We had no idea the bank would take an entire year of trying multiple auctions! As luck would have it, the HOA sent us a notice for Small Claims Court the same week we got notice the bank had finally taken the house. We paid the balance just in time to avoid having to go to court, but paid way more than what was originally due. If possible, stay in the house until you get the notice on the door that it has actually sold at auction or been taken by the bank. If the house is vacant for any period of cash loans online no credit check time, leave the blinds on the windows. As a result, the bank was never able to tell if the house was occupied or not. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. So apparently because my husband is deceased (and on the loan) and no probate was completed, they had to file judicially because they do not know who has interest in the proberty.

I had an attorney look over the summons to help interpret for me. I only received a copy of the final Decree from their Default hearing in the mail. Has anyone sold their house during their redemption time? The comments by me and the cash loans online no credit check materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.