Forclosure Eviction

[UCGal]

[quote=tintin71]I was shocked to find out that my friend’s house has been foreclosed. The house is located in Poway and they had owned it for over 20 years…The lender was GMAC and they had done loan modification and had missed a payment(?)…

apparently missing a payment on a modified loan results in the house being sold by the bank unbeknown to the occupants…
[/quote]

That actually seems reasonable… If they had kept their original 30 year loan and paid it off – they’d have a whole lot of equity and not small amount of debt. I’m assuming they refi’d, probably took cash out, somewhere along the way. And then got behind and eventually went to the loan modification process. They were fortunate to actually get a loan mod through.

And then they failed to take advantage of the new reduced payment – they missed it.

My limited understanding is that loan mods have caveats that the payments MUST be made in full and on time or the house goes straight into foreclosure. After all – you don’t get to do a loan mod unless you’re already in some stage of foreclosure to begin with.

It’s a hassle your friends have to deal with moving, but they should have made the payments on their modified loan. Period.

[briansd1]

If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?

[briansd1]

If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?

[briansd1]

If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?

[briansd1]

If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?

[briansd1]

If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?

[PCinSD]

[quote=briansd1]If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?
[/quote]

Pretty harsh statement suggesting that the friend took him for an idiot. Perhaps the friend is mortified about the situation he’s in and doesn’t want (or need) to fully disclose everything regarding his personal finances. Also, I would never go snooping at the Recorders office to investigate a friend’s NOD status. They are friends, and telling him that he “can’t trust” him as a friend is nonsense.

On the other hand, some folks have a lot of time on their hands and get some kind of malicious glee by exposing random people who got in over their heads during this real estate run-up.

[PCinSD]

[quote=briansd1]If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?
[/quote]

Pretty harsh statement suggesting that the friend took him for an idiot. Perhaps the friend is mortified about the situation he’s in and doesn’t want (or need) to fully disclose everything regarding his personal finances. Also, I would never go snooping at the Recorders office to investigate a friend’s NOD status. They are friends, and telling him that he “can’t trust” him as a friend is nonsense.

On the other hand, some folks have a lot of time on their hands and get some kind of malicious glee by exposing random people who got in over their heads during this real estate run-up.

[PCinSD]

[quote=briansd1]If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?
[/quote]

Pretty harsh statement suggesting that the friend took him for an idiot. Perhaps the friend is mortified about the situation he’s in and doesn’t want (or need) to fully disclose everything regarding his personal finances. Also, I would never go snooping at the Recorders office to investigate a friend’s NOD status. They are friends, and telling him that he “can’t trust” him as a friend is nonsense.

On the other hand, some folks have a lot of time on their hands and get some kind of malicious glee by exposing random people who got in over their heads during this real estate run-up.

[PCinSD]

[quote=briansd1]If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?
[/quote]

Pretty harsh statement suggesting that the friend took him for an idiot. Perhaps the friend is mortified about the situation he’s in and doesn’t want (or need) to fully disclose everything regarding his personal finances. Also, I would never go snooping at the Recorders office to investigate a friend’s NOD status. They are friends, and telling him that he “can’t trust” him as a friend is nonsense.

On the other hand, some folks have a lot of time on their hands and get some kind of malicious glee by exposing random people who got in over their heads during this real estate run-up.

[PCinSD]

[quote=briansd1]If friends told me this tale, I’d be offended that they took me for an idiot.

You can go to the County Recorder’s office and look up their NOD and NOT. You can also see the Deed of Trust (refinancing) that caused them to lose their house.

You’ll get more accurate information than what your friends are telling you.

It’ll probably be good learning experience for you on the foreclosure process as well.

Trust but verify. If you can’t trust a friend to be straight with you, then who can you trust?
[/quote]

Pretty harsh statement suggesting that the friend took him for an idiot. Perhaps the friend is mortified about the situation he’s in and doesn’t want (or need) to fully disclose everything regarding his personal finances. Also, I would never go snooping at the Recorders office to investigate a friend’s NOD status. They are friends, and telling him that he “can’t trust” him as a friend is nonsense.

On the other hand, some folks have a lot of time on their hands and get some kind of malicious glee by exposing random people who got in over their heads during this real estate run-up.

[David J]

[quote=IONEGARM]
The home didn’t get sold with no notice btw, they would have had a NTS filed and the lender was postponing. Then once they missed the loan mod payment (!) the lender took the next sale date and foreclosed. [/quote]

The above is probably what happened. The lender never canceled the trustee sale and instead had been postponing it. When they missed that payment, the lender let the trustee sale happen.

[David J]

[quote=IONEGARM]
The home didn’t get sold with no notice btw, they would have had a NTS filed and the lender was postponing. Then once they missed the loan mod payment (!) the lender took the next sale date and foreclosed. [/quote]

The above is probably what happened. The lender never canceled the trustee sale and instead had been postponing it. When they missed that payment, the lender let the trustee sale happen.

[David J]

[quote=IONEGARM]
The home didn’t get sold with no notice btw, they would have had a NTS filed and the lender was postponing. Then once they missed the loan mod payment (!) the lender took the next sale date and foreclosed. [/quote]

The above is probably what happened. The lender never canceled the trustee sale and instead had been postponing it. When they missed that payment, the lender let the trustee sale happen.

[David J]

[quote=IONEGARM]
The home didn’t get sold with no notice btw, they would have had a NTS filed and the lender was postponing. Then once they missed the loan mod payment (!) the lender took the next sale date and foreclosed. [/quote]

The above is probably what happened. The lender never canceled the trustee sale and instead had been postponing it. When they missed that payment, the lender let the trustee sale happen.

[Author]

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