Money help: Does anyone know about foreclosure procedure..

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Does anyone know about foreclosure procedure..

in the usa.

how long do I have once I stop paying to get out?

how long does it take to be served w/papers from the bank. then the auction then when do I have to leave

What happends during the process if I stop paying my mortgage.

Its embarasing. my family has no money & its just going to continue anyway.. I was hurt and cant find work. Im eligable for Social Security disability. But that takes 2 yrs. and it wont help me today.
I owe more than the house is worth TODAY! I have 2 different morgage’s - with differnt companys so that negates the short sale idea.. Im trying to stop the bleeding. I want to save the little cash will have & need to know how soon to be out so I can find an affordable place . can any one give me advice. share the experience. educate me.. thanks

This open post was written 1 year, 8 months ago | V/U/S: 1,246, 8, 5 | Edit Post | Leave a reply | Report Post

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Since writing this post Anonymous may have helped people, but has not within the last 4 days.

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Education, bank, Money, disability, Family, house, auction, Bleeding, mortgage, Experience (How Tags Affect Reciprocity)

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littlenick 127 #
An Undisclosed Location | 1 year, 8 months ago (7 minutes after post)

Have you spoken to the banks yet?

Help me with: For those of you who think depression is something to ignore, read this:

gg_steine #
An Unknown Location | 1 year, 8 months ago (12 minutes after post)

what am i going to say… i cant earn a living - did you read im disabled…. i dont want to pay I cant afford it

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littlenick 127 #
An Undisclosed Location | 1 year, 8 months ago (12 minutes after post)

How long ago did you stop paying?

Help me with: For those of you who think depression is something to ignore, read this:

gg_steine #
An Unknown Location | 1 year, 8 months ago (14 minutes after post)

havnt stopped yet.. I want to stop the drain…. and save for a new place- how long do I have from the time I stop paying till Im forced out.

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littlenick 127 #
An Undisclosed Location | 1 year, 8 months ago (18 minutes after post)

Normally, when you stop paying the send you a demand notice about 60 days later. Then about after 90 days, the send you another notice to pay or quit (like if you were renting). It takes about 6 months before they finally evict you, specially if you have a family and go to court! Unless they have a buyer for your place, but they have to serve you with papers of eviction! And even then you have another 30 to 60 days after the eviction notice! But, if you can talk to the banks and tell them exactly what you said, I’m disabled, I cannot, I cannot work, I need some kind of reprieve so I can try to catch up, they let you stay there. They would rather have a house that at least might get cleaned up than an empty house that might be vandalized! Don’t sign any more papers promising to pay!

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phuckit! 8 #
An Unknown Location | 1 year, 8 months ago (48 minutes after post)

I tried renting my house out before it foreclosed. I am getting 900 a month for it, but it saved my credit

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Davis820 #
An Unknown Location | 1 year, 7 months ago (3 weeks, 4 days after post)

Dear Stiene, We are going through what you are. I am disabled and my husband had a terrible injury and had to resign work. He applied for disabilty, it only takes 6mts. They always say no and then you have to get lawyer after turn down, this takes up to 60 days. Its a long time but it will be best to stay in your home. The last thing your bank wants is your house. Here is the rest of our story-hope it helps. After my husband injury he applied for Social Security and we keep in touch with bank at least once a month. The last time we made payment was Dec,2007 during this time they payed for taxes and insurance, they put on loan(wells Fargo), we sent a hardship letter. We want to give up the deed it was 2mths and now they say no. They have it up for sale in ct. You talked about moving, here is where we got in trouble, we moved out in Mar. went to another state. Now my husband had to try for Social Security all over and also We can not get any help because it still shows we have property and there is no help any where. If at all possible aybe stay there if you can. Or you won’t get any help elswhere till your house is sold…They will not kick you out. They have to give you enough time to find new home, what ever state you live in there is a Economic Housing, ours is MD.place run by your stste, they will be the first to notify you before bank and they offer help for you to find a home. My bank has yet to send us forclosure papers. They told us to do the short sale and call early Oct. if we have not sold then they proceed. But I wish we had never moved. We are not able to get any help even with medical.I am so sorry your going through this, but our prayers are with you..But if you can stand firm for now. Don’t let them scare you, they really don’t want your home, but if you have taxes due and insurance. they can get it for you and put on loan, but you have to tell them, because you don’t need the city after you too. Hope this helps…Sincerly, Bonita

Dear Stiene, We are going through what you are. I am disabled and my husband had a terrible injury and had to resign work. He applied for disabilty, it only takes 6mts. They always say no and then you have to get lawyer after turn down, this takes up to 60 days. Its a long time but it will be best to stay in your home. The last thing your bank wants is your house. Here is the rest of our story-hope it helps. After my husband injury he applied for Social Security and we keep in touch with bank at least once a month. The last time we made payment was Dec,2007 during this time they payed for taxes and insurance, they put on loan(wells Fargo), we sent a hardship letter. We want to give up the deed it was 2mths and now they say no. They have it up for sale in ct. You talked about moving, here is where we got in trouble, we moved out in Mar. went to another state. Now my husband had to try for Social Security all over and also We can not get any help because it still shows we have property and there is no help any where. If at all possible aybe stay there if you can. Or you won't get any help elswhere till your house is sold...They will not kick you out. They have to give you enough time to find new home, what ever state you live in there is a Economic Housing, ours is MD.place run by your stste, they will be the first to notify you before bank and they offer help for you to find a home. My bank has yet to send us forclosure papers. They told us to do the short sale and call early Oct. if we have not sold then they proceed. But I wish we had never moved. We are not able to get any help even with medical.I am so sorry your going through this, but our prayers are with you..But if you can stand firm for now. Don't let them scare you, they really don't want your home, but if you have taxes due and insurance. they can get it for you and put on loan, but you have to tell them, because you don't need the city after you too. Hope this helps...Sincerly, Bonita

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patfatdadd #
An Unknown Location | 1 month, 1 week ago (1 year, 6 months after post)

They are not trying to foreclose for non payment of the mortgage. I cannot afford the insurance and taxes. I found out that the county cannot foreclose for taxes if I am disabled. I filled out the form and my taxes are deffered by law until I die.In the meantime the bank paid the past due taxes and said if I do not pay the taxes, the lawyer fee, and buy insurance in 30 days they will foreclose. I have barely enough to live on and cannot buy the insurance or pay the taxes.
Pat

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