I moved to a new state last July due to a job change and left my house. I haven't made any payments to the Mortgage company since the June payment. The mortgage was included in my BK, and the house couldn't be sold for enough above the payoff to cover realtor fees (it would have cost me 5-10K of my own money to sell the house for no profit) which is why I just walked away. I'm trying to figure out when the mortgage company is going to get around to foreclosing - taking the house back. Since then, I have tried a few times to contact them to see what was happening, but each time I only get sent to their collections department due to the account being delinquent. So for anyone out here who's had a foreclosure, please let me know about how long from the time that you stopped paying until when you got notified that they have begun the foreclosure (and then how long after that until it was completed).
It's really difficult to say because the process varies from state to state and each lender has a different number of foreclosures they're trying to manage. I know some people who have had homes sit for over a year, while others have been foreclosed on within six months.
My sister in law is in a similar situation like yours. Her chapter 7 BK was discharged in August 2010 and her foreclosure sale on her house in going to be in April 2012. I believe her first mortgage was with BofA and she lives in Colorado. I really don't think there is any set time, like Josh said. Thanks! Heather with BoostMyScore.NET.
