State bill slowing foreclosures, agent says
- Thread starter Anonymous_IHB
- Start date
IrvineRenter_IHB
New member
Anonymous said:
Is it just me, or when you see the words "agent says" do you immediately know it is complete bullshit?
trrenter_IHB
New member
"It calls for lenders or loan services to contact homeowners at least 30 days before filing a notice of default, the first stage of foreclosure. The bill says lenders should let borrowers know of their options to avoid foreclosure."
If you stop paying your mortgage shouldn't you already know you are in default?
Call example
Lender: Mr. FB do you know you are in default you haven't paid your mortgage for 90 days.
FB: I know I have a couple grand extra in my bank account since I stopped paying.
Lender: Well you have some options.
FB: I know I can live here rent free for the next 6 months to 5 years. Have a nice evening.
If you stop paying your mortgage shouldn't you already know you are in default?
Call example
Lender: Mr. FB do you know you are in default you haven't paid your mortgage for 90 days.
FB: I know I have a couple grand extra in my bank account since I stopped paying.
Lender: Well you have some options.
FB: I know I can live here rent free for the next 6 months to 5 years. Have a nice evening.
graphrix_IHB
New member
IrvineRenter said:
No... it's true. NODs and NTSs have fallen off a freaking cliff. I mean we are talking going from 150 NODs a day to 15, and 10 of those are HOAs filing the NODs. However, foreclosures are still ugly. And a funny thing was the huge amount of NODs and NTSs that were filed at the end of last month. Aren't the lenders nice... quick, get those NODs and NTSs filed now before that stupid law takes effect!
