Posted on: 23rd Sep, 2010 09:28 pm
My BK was discharged 8/09. I've been living here w/ my new husband and trying to catch up the payments. We've been on a pymt plan so we're in default. But have been on time and faithful We're now going to give up the house - we found a place to rent that suits our needs. There is no reaffirmation stmts for 1st or 2nd mortgages. Since we're in default already and stop making pymt now - how long will it take for them to start foreclosure. We might offer it as a month to month rental in the interim. We live in CO.
Hi sculley,
As you haven't reaffirmed the mortgage, you should contact your lender and surrender the property to him. It will take around 90 days to complete the whole process. After you surrender the property, you should contact your lender and ask him to sell off the property asap.
Thanks,
Jerry
As you haven't reaffirmed the mortgage, you should contact your lender and surrender the property to him. It will take around 90 days to complete the whole process. After you surrender the property, you should contact your lender and ask him to sell off the property asap.
Thanks,
Jerry