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It's no secret that people who aren't paying their housing obligations want to extend the period between the initial Lis Pendens ("Pre Foreclosure") and when they get their actual "Final Order for Foreclosure" (Which usually means they've got another 90 days (if that) to get out)...
Let's hear some stories and/or information on this... from both sides. What have you seen done to stay longer and what have you seen in general.
For example, what's the "average" amount of time between a Lis Pendens and the actual Final Order?
You are mistaken if you believe there is anything you can magically do to extend the schedule between a notification of the pending legal procedures and the completed foreclosure which will result in loss of any equity, lack of place to live, and significant negatives on your financial history.
Further it will do you no good to have info about "average time" if the facts on the ground in your area are such that the court system gives priority to certain filings.
If you do not have have legal representative GET AN ATTORNEY ASAP! If you have spoken to an attorney and still are not clear on what options you have PLEASE GET A NEW ATTORNEY ASAP!
In all cases the "final order" will be TOO LATE to do anything. You almost certainly should have been in court MONTHS AGO to plead your case for hardship if one exists OR AT LEAST have met with an experienced real estate agent that could have laid out a what you home is realistically worth, how you might have been able to work out a short sale or deed-in-lieu...
If the OP is trying to buy property that is facing foreclosure and they don't understand what happens in their state / county when a lis pending filing is made they are in worse shape than a mortgagor ...
I am not trying to jump down / on anyone here so much as I shocked that 3+ years into the crisis in the mortgage backed security market and the subsequent collapse of residential property values there are still so many people that do not seem to be very proactive in getting control of their own situation.
With all due respect, I see you have 12k+ posts... but I have to wonder, exactly what information have you shared and/or contributed in those posts?
I'm not the one in default. In fact, I am not upside down on a single property I hold. I'm looking for a place to LIVE. The area where I'm looking is divided by short sales and people that have no concept of what their property is worth, forcing me to deal with short sales.
The purpose of my thread was to try and determine some benchmarks between the two legal points as mentioned in my original post. For example, in my area, from a statistical view, the time frame is approximately 2-1/2 to 3 years.
I'm interested to know if the gap is closing, staying the same, or what.
So Chet, I *completely* understand "what happens" in this case... I wasn't asking "what happens" I was asking about peoples experiences and/or thoughts.
Geeze, Chet... I hope if I ever have 12k posts here I don't carry myself like you do.
I read this post completly different than everyone else. I see this as trying to glorify "working the system." I took this as what are people doing to keep potential home buyers out of a perspective house while I live rent/mortgage free.
I see both sides to this, myself, I am trying to buy a short sale, while my parents have just sent their house to the market, starting the short sale process.
I just say be fair. If you can't keep your house for whatever reason, then don't screw a first time home buyer out of their dream.
Sammy- Now that my page reloaded, I see your intentions on this thread. It's a screwed up market, that's for sure. I wish I could find a traditional sale to buy. In my area, there are hundreds of houses for sale, of which the only ones that a traditional sale are up in the $1,000,000 range, about 4 times my budget. ��
If what you want is statistical data there are a whole heckuva lot of places that will gladly sell that information to you. You can also find some of the summaries on various news sites.
The strength of a forum like City-Data is advice. I will stake my record of advice on that of any other poster in this forum.
If you are too cheap to subscribe to a real estate data service and need help using search engines to find freely available statistical information please at least have the grace to ask questions clearly.
Foreclosure activity edges higher in January | The Des Moines Register | DesMoinesRegister.com (http://www.desmoinesregister.com/usatoday/article/53114256?odyssey=mod%7Cnewswell%7Ctext%7CBusiness% 7Cs - broken link)
Normally I ignore ego-inflated people like you... but really? First off, it took you 3 posts to basically tell me to F-off or "pay" for information. Then you post a link that mentions NOTHING about the time between the two points I mentioned
At this point, I doubt highly you even know what I'm talking about so you just post to see yourself post.
With all due respect, you're not even remotely a help here.
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