Live mortgage free for 8-9 months ? That's how long it's taking to get kicked out of your home if you stop paying (realty)

[heydade]

I read somewhere that because of the droves and droves of people going into foreclosure and because of the budget cuts in Florida that have caused trimming of the court system and other government entities, that there is currently an 8-9 month waiting list for the bank to get a foreclosure hearing. That means living in your home...for 8-9 months with no mortgage payments. Anyone going through a foreclosure right now that can substantiate this claim ???

[House4Sale]

No but we're in month three (after paying to keep house cared for while on market w/AC, water, electric, lawn service etc.) and they haven't taken it from us yet. We are on fourth realtor trying to sell it (God, we had the worst of the worst. Part the blame while houses aren't selling. One realtor let our upgraded sod go to ruin by not telling us of a problem that developed. Had she, we could've addressed problem earlier. One didn't work weekends...even though that's when most buyers are shopping, phone service was disconnected etc. First one started an argument w/a prospective buyer. Horror stories abound!!). Anyway, it has drained us completely. Hopefully "W" (the last realtor we are signing with!!) is going to come through for us. They seem a no-nonsense corp. and we should've gone w/them first.

Check and check again with real people, satisified customers when you select a realtor. Never just go by all the kudos you see on the internet. Some of those are so outdated and who posted them anyway? An aunt, friend, pet dog?? Yikes!

[Songbird42]

Hey House, I was listening to the radio 106.3 they were at a brand new location for a local realtor, and the realtor was saying that for a $500.00 listing fee, they would help you sell your home, he said if you took the couple of thousands of dollars in commission off the price and he used $203,000 as an example because people have a "ceiling" for what they want to pay, that by taking off the commission and bringing it below $200,000 it would sell better.

"sod" got a letter from a local pest control company which I use, and they were saying that this is one of the worst seasons for chinch bugs, the spray that everyone is using is useless, the bugs are resistent to the spray. I lost the whole lower half of my lawn, just got it replaced. It can cost hundreds
to thousands to replace, I sympathize with you.

Hope you can get that house sold, in a couple of months I'm looking to do the same thing and I'm dreading it. Keep your chin up, things have a way of working out.

[SLCPUNK]

Originally Posted by heydade

I read somewhere that because of the droves and droves of people going into foreclosure and because of the budget cuts in Florida that have caused trimming of the court system and other government entities, that there is currently an 8-9 month waiting list for the bank to get a foreclosure hearing. That means living in your home...for 8-9 months with no mortgage payments. Anyone going through a foreclosure right now that can substantiate this claim ???

8-9 months? Try about double that.

[heydade]

Originally Posted by SLCPUNK

8-9 months? Try about double that.

WOW. and if you don't mind me asking...your source is ?

[SoFLGal]

We have a listing that stopped paying the mortgage in August 2007 and they were supposed to foreclose on April 24th. We got an offer in in October 2007 and the bank has taken their sweet time responding to count offers. They have finally agreed to the amount and stopped the foreclosure. We should be closing in mid May.

So that looks like about 8 months or so from beginning to end.

[House4Sale]

Songbird, thanks and I wish you better luck selling than we've experienced. It couldn't get any worse.

Wish I would've known about that selling house service before we signed w/the new realtor.

The sod thing happened last year. It got some kind of fungus and could've been treated. Realtor was young (seasoned guy we thought we were getting dumped our acct. in lap of three month employee) and too busy at the waterslide park and baseball games and stuff like that to be concerned w/selling our house.

[SLCPUNK]

Originally Posted by heydade

WOW. and if you don't mind me asking...your source is ?

Articles I've read, real life experience as an investor, and my wife works with the court system as an analyst for their software. She hears, and sees a lot, that is not necessarily related to her job.

I'm not claiming it's always that long, but depending on the area, it can approach 24 months before they get somebody out. My last house I sold, is in foreclosure now, they have been in the house 10 months without paying a dime. They all have new cars now too...

[momix5]

It is one thing if you lose employment or get sick, but to not pay and buy new cars that just is not right.

[cfIfan]

Hi house for sale, i was just wondering when you say your sod was damaged etc, whether you were still living in the house? and whether your subsequent comment about the waterslide just meant you were too busy to take care of it. Also as a realtor in the Central Florida area, i liken this type of relationship as a marriage, if you dont select a good realtor who you know is going to go out on a limb for you, then there isnt any point having one, which is why making the right choice in the beginning is essential. I dont work with a large franchise realty company, simply because i used to, and instead of getting on with the job of selling homes, they had me in courses 3 times a week, and office meetings once a week. Byt the time the end of the week had come around i had maybe 3 days worth of work done.

The reason i asked about your grass, was simply because, yes the realtor should have told you about it, but if you are living in the property, we are not baby sitters for you. If you dont take care of your own lawn, have a company come in to do it. Its not your realtors job to spray and feed your lawn.