pre foreclosure

Btlamar · #1 10-30-2008, 09:02 AM

What is the name of your state (only U.S. law)? California,
2 months behind, will be 3 on 11/2, received notice of intent to foreclose when we were 30 days late, saying if we don't pay by 11/03 "the process could acceleration of the sums secured by the Security instrument, making the entire loan immediately due and payable" partial payment is not acceptable, we have called Wachovia a few time recently to see if we could make a payment, & then make another in 15 days bringing us to being 1 behind, but each time they said they needed a manager to approve it, but they were all in meetings? do they really want the money or not? we owe 395k, house might get 200k after a long wait on the market, or less at auction.Also we filed bk on 11/2006 and the loan was listed in the bk, we tried to reaffirm at the time but they said "we don't do that" also got the same reply when inquiring about any other help from them.
any way my question is, should I make a payment with out a manager to approve it?
I want to try to survive this, but also if they are going to kick us out any way, I could save the money to move.

HomeGuru · #2 10-30-2008, 01:31 PM

Quote:

Originally Posted by Btlamar

What is the name of your state (only U.S. law)? California,
2 months behind, will be 3 on 11/2, received notice of intent to foreclose when we were 30 days late, saying if we don't pay by 11/03 "the process could acceleration of the sums secured by the Security instrument, making the entire loan immediately due and payable" partial payment is not acceptable, we have called Wachovia a few time recently to see if we could make a payment, & then make another in 15 days bringing us to being 1 behind, but each time they said they needed a manager to approve it, but they were all in meetings? do they really want the money or not? we owe 395k, house might get 200k after a long wait on the market, or less at auction.Also we filed bk on 11/2006 and the loan was listed in the bk, we tried to reaffirm at the time but they said "we don't do that" also got the same reply when inquiring about any other help from them.
any way my question is, should I make a payment with out a manager to approve it?
I want to try to survive this, but also if they are going to kick us out any way, I could save the money to move.

**A: your post is confusing.

GeoNOregon · #3 10-31-2008, 04:14 PM

you need to learn about California foreclosure process, and find an attorney for advice. Oregon's foreclosure is a six month process with allowances for paying off the balance due. The problem that can bite you in the butt with foreclosure is how you might get reamed for the cost, in spite of federal limitations on the fees.

A lot of places are using sub-contractors who are anything but ethical in their fees and practices. I was overcharged by ~$2,500, with 1550 being wrong and they knew it, immediately backed down. Then there was a ~700 fee for the damn classified ad, which I later found out costs $59.95 - I called the paper. When confronting the mortgage company, I was told it was sub-contracted out.

After I was persistent, they actually were dumb enough to send me a copy of the invoice to them. I called the sub-contractor and asked them about the charge on invoice # such and such, after i was again persistent about wanting to know why it was ~700, they finally shuffled me to someone who said, "well, that's for layout expenses, we actually sub that work out."

So, the sub-contractor who specializes in auction notifications subs the work out again and someone is saying it costs 600+ dollars to 'layout' a classified ad, albeit a large one? When I told the lady at the newspaper she laughed and said we do the 'layout', they just submit the info. She also said there is no layout like an advertisement, it's only typing the info into a machine. She told me some 'high-tech' papers use equipment where data files can be imported directly, no typing.

Once, again, we get taken advantage of as consumers.

The point of my story is YOU need to learn as much as possible and be as pushy as possible with everyone. Demand supervisors, write letters.

It might be too late, but the best tool I have found is a letter requesting verification of the validity of a debt, asking for the current balance and how is is calculated and include a request to not be contacted about the debt until you receive a response.

I'm only familiar with this in reference to a newly received debt notice, but it still might work for you. The Debt Collection Act says they have 60 days to reply, but have to reply within 20 days if it is going to take more than 20 days to answer your questions.

Also, in Oregon, I learned it is against the law for them to delay giving you a payoff amount if that payoff amount would stop the auction. ie) 7-8 weeks before my auction I requested the balance due. I didn't receive it until two days before the auction. I had enough time to run to the bank, get cashiers' check and Fed Ex it to stop the auction.

THAT was illegal for the mortgage company to do. It might even be a Federal law.

Look for RESPA and the Fair Debt Collection Practices Act in the Internet. Call the California govt agency that regulates mortgages practices, I imagine if Oregon has one, so does California.

Good luck.