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Everything posted by leoincarolina

  1. Plot twist: Modification declined by me and they abruptly withdrew the property from the impending auction. When I spoke with someone in loss mit as to the next steps, they responded: "I'm sorry, I have no idea." Did I inadvertently call a bluff?
  2. Fair comments by all. Thanks for taking the time to post. I declined the modification.
  3. State: SC (judicial) Foreclosure type: waive deficiency last communicated foreclosure sale date: 16 days from today Home purchase: 1999, right under $150k. I think it was originally a conventional loan, converted to FHA during one of the mods second mortgage: none last mortgage payment made: 6/2017 lender's appraisal: $162k an informed/realistic appraisal: $143k property liens: $3k civil judgement, $2500 HOA reinstatement amount: $31k Principal balance: $189k payoff amount/accelerated amount due: $213k My age: mid forties This is my sixth foreclosure and I'm looking at trail period paperwork so the lender is prepared to make this my sixth modification. I don't see any terms of the mod in this phase but was told on the phone there would not be a principal reduction. (Never had one in prior mods...was just hoping for one). They have given no indication of any other loss mit options. There was a short sale period but no offers on their inflated appraisal/list price. Did not qualify for DIL due to property liens. Whats different this time is I'm prepared to walk away. I assume the monthly payment will be close to the three trial payments. I won't bore you with my personal financial details but I consider the $1300ish per month payment a little too high for me, in this home. Obviously I don't deserve a conforming rate in these circumstances but I was hopeful they would come back with something lower. I am considering thanking them for another mod but declining and telling them I will move out by the sale date. I just wanted to get the board's reaction as to what reaction they may have. I assume they will proceed with the sale but given the colorful history I have with my lender, would it be possible that they drop back and punt? First time I've ever considered declining a mod and I wonder how a loss mit department would react. Open to any other observations or advice.
  4. Thanks so much for the replies. Based on what I am seeing, the lender has no knowledge of the HOA foreclosure. It has not come up during modification process and public index lists no service by the plaintiff to the lender...only to me. This can't be right, right? If hypothetically I did not satisfy the HOA demands and the foreclosure occurs, the servicing company will wake up one morning and will have lost their ownership/interest in the property.
  5. I'll take a stab. The servicing company matters more than the owner of the mortgage for reporting. So when my mortgage was transferred, the letter said 'xyz mortgage company will continue to provide service on your mortgage'. So nothing changed for me. I would check to see if the letters indicated a change of servicer. If not, I would assume your situation would not change. You may could expect no reporting and no more progress on the foreclosure.
  6. Is anyone familiar with laws preventing simultaneous foreclosures? State of SC. One is a HOA based foreclosure which was filed a few months ago. Second is a lender foreclosure. Very deep into the process of that one but are currently working towards a modification, so they have hit the pause button for now. Wouldn't it be part of the lis pendens process(or some step) that would prevent this? Or does this sometimes happen, and it just becomes a race to the finish line to see who wins? The HOA did not appear to answer the complaint that was served them and pursue a claim within that foreclosure. thanks so much

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