So I'm 90 days past due on my mortgage --and about 4 months on HOA.
It's with Citi mortgage... I'm in a metropolitan area (if that matters).... a lot of foreclosures in my area...

I'd like to stay as long as possible...

I've heard paying --say-- $300-$500/month (for a $1,500 mortgage) --will delay it.. but I hear it's not a certain thing and of course, I'd rather not pay anything at all.




Anyone on totse with experience in this?

Well maybe you shouldn't have spent rent on hookers and booze there's a idea

the value of my house has dropped $30,000... no point in paying. Not to mention the ARM... bound to reset next year :(

the value of my house has dropped $30,000... no point in paying. Not to mention the ARM... bound to reset next year :(

No point in paying?

I assume you mean other than royally fucking up your credit and being a beginning the slow descent from "lowlife" to "total scumbag?"

What was your house worth & whats your income & bills etc?

why did you get a mortgage if you couldn't pay it off?
are you part of the "sub prime"

didn't you even look at your repayments when signing contracts?
Did you even have a deposit or did you borrow 100%?

I'm in the process of buying a house right now, and at current interest rates (about 7.xxx%) I can easily afford it, even if they went up to 25% I could survive.

just shoot yourself now to help the economy out.



the value of my house has dropped $30,000... no point in paying. Not to mention the ARM... bound to reset next year :(

and how much have you payed off you home so far?
look over the past 100yr's, shit like this just happens, you should have prepared for it.
sure the price may have dropped 30k, but if you have had the mortgage for a while you should have a fair chunk payed off, do you want to lose that?

does your mortgage not have the option to lock in the interest rate for X years?
maybe if you kept on top of your finances you could have locked it in long ago and been sitting pretty whilst everyone else goes bankrupt and had some money left over to buy up foreclosed property's.



why am i wasting my time, this whole topic screams troll

You're a fucking dumbass! Thank you for contributing to the housing crisis.

Don't pay a dime my friend, save what you can for the time when ya need to rent or change residence. Much ado about nothing, from personal experience, I had a foreclosure sign outside my house for months, until my friend ripped it down, we've been in fc for about a year with nothing done but a sticker on my door. Lawyer says even if eviction proceedings are filed, in most cases no judge or sheriff is gunna kick you on ur ass in winter and thats if you're house is up for eviction, if you get that letter, you send it to ur lawyer, he goes and gets a stay of up to 3 more months.

Here's a few more reasons not to worry

1. Sheriffs who are in charge of doing evictions on foreclosed homes will NOT enforce said law in the current climate. (Illinois & Texas) rest of states to follow soon



2. Banks are so up in their arms with fraud, they are having trouble proving they actually own the house, this actually went to court in my state and the lady won, they couldnt prove they owned the house any more than she could, since she was payin for as long as she could, she got to keep the house.

3. The american public at large was victim of fraud, not the other way aroun, the lenders are at fault here, just remember that, therefore smoke some pot put on the Big Lebowski dvd and enjoy the rent free living in the USA, i love it :)

4. As long as you can dutifully manage your property, the bank is happy, they can't sell your fuckin house right now if they tried, so as long as someone is living there, cuttin the grass, collectin the mail, pickin up the leaves etc. its all gravy :)
inside info rules..:P figure if they oust you they have to pay a realtor, property mgt, and most likely fail in an attempt to sell a house that will decline in value if abandoned and not well kept. They have more riding on you staying than leaving, trust!

Courts throwin out foreclosures here> http://blogs.wsj.com/law/2008/02/06/ohio-ag-hits-snag-in-crusade-against-foreclosures/
Wachovia renogotiates>
http://webofdebt.wordpress.com/2008/07/30/standing-up-to-the-banks-how-to-challenge-your-foreclosure-in-court/


Magistrate Judge tells Ohios AG to fuck off "lenders can’t foreclose unless they can prove they own the mortgage they say is in default"


http://activerain.com/blogsview/732828/SHERIFF-SHOOTS-47-FORECLOSURES

http://209.157.64.200/focus/f-news/2100685/posts

Have a good day and sorry to hear about the fc, good luck

dumbasses like you are the reason the rest of the world is going into a depression.

you take out a mortgage you make the repayments.


I guess it's you god given right as an american to not give a fuck about anyone else.