How long can I live in my home after I stop making mortage payments? In Minnesota
Real estate agent said the best I could hope to do is break even My credit is completely shot already for $50,000 owed to collecttion firm for $35,000 in credit card dept.

In California they are averaging about 90 days. So, I would plan for that and you may get lucky and last a bit longer.
There are so many variables that can make it quicker or longer, so be safe and plan for 90 days.
Sorry.

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Can I delay or better yet stop foreclosure? My husband called the Mrtgage Co. and received a conditional modification, then they never received (they said) the certified funds payment. We've placed tracers on them which costs $ and is apparently difficult to do with a bank check. Now we've received another foreclosure notice with a Date sale on 7/22/08. Any help here?

Now is not the time to be asking about that.
Surely you sent that certified funds payment return receipt requested.
You need a lawyer, yes, I know its expensive, maybe you can find a paralegal. But if you have any chance at all you need to know what you need to do, and how you need to do it. Or you might as well pack.
If they cashed the check its not difficult for the issuing bank to check on it, there isn't any reason at all for them to be having a problem with that. Their records would show funds moving, and believe me, they know where their money is going.

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This video is from the show Open House on CNN. Homeowners in trouble facing short sale or foreclosure should be careful when answering to unsolicited mail, phone calls or emails. A HUD representative and a legal services representatives explain what homeowners should watch out for and what to do.

More info at:

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http://micasamidinero.com/2007/foreclosure-fraude/

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http://www.stop-foreclosure-for-1700-dollars.com You can stop foreclosure fast with our proven solutions. Get all the help you will need to save your home. Call for a Free No Obligation Consultation

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http://www.ncacreditrepair.com/loan-modification-program.html Loan Modification - This is when your loan is restructured with your current lender. This option not only improves your credit, it is also the best way to keep your property. With this option, our goal is to significantly reduce your mortgage payment by achieving one or more of the following things:

Rate reduction
Rate locks
Principal reduction
Forgiveness of late defaulted payments

Short Refinance - This restructuring plan encourages clients to refinance, typically with another lender. To help qualify the homeowner, the current lender would issue a shorter payoff amount in order for a homeowner to obtain a loan based on current lending guidelines.

Short Sales - If the homeowners hardship is very extensive sometimes the only way out is to sell the home and be rid of the burden altogether. In a short sale, the negative equity in the property is forgiven by the lender in order for a sale to occur at market price. One of the many real estate professionals at Diamond Consulting will be available to list/show the property and work with the attorney to submit offers to the lender.

A Deed in Leiu of Foreclosure - A potential option negotiated by the attorneys, a deed in lieu is when a client avoids foreclosure by deeding back the home to the lender in exchange for the release of all obligations under the mortgage. Both sides must enter into the agreement voluntarily and in good faith.

Cash For Keys - In most foreclosure cases, homes are left damaged and in disarray. The high cost of restoring these distressed properties pushes lenders to explore other options such as cash-for-keys. This is where the lender issues cash in exchange for a home in good standing, and or in clean condition.

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How to Avoid, Stall or Kill your foreclosure.

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Foreclosure Law Firm The Law Office of Charles L Neustein PA and StopForeclosureLawyer.com defend foreclosures throughout the state of Florida. Their goal is to help stop foreclosures (commercial foreclosures and home foreclosures). This firm offers an affordable legal defense to homeowners in Miami-Dade, Broward and Palm Beach County and throughout the state of Florida.
Most people do not realize that they can stop foreclosure even if they stopped paying their mortgage. Many recent cases have been filed improperly and an experienced attorney can assist with the identification and filing of substantive and procedural defenses with the court and vigorously defend your case. Due to the lender’s actions, omissions or other facts surrounding your case, you may be able to stop making mortgage payments and stay in your home while your attorney vigorously defends your property. This does not necessarily mean that you will not have to pay the loan back or completely Stop Foreclosure. It is possible to completely Stop Foreclosure if the bank or lender is in violation of the Florida Unfair Lending Act or other predatory lending practices. If the lender has committed such a violation, the entire principal and interest balance may be waived and the mortgage may be voided. This may not be relevant in your case. But, at the very least, a successful defense can do is buy you precious time to:

Stay in your home
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Refinance your home at a fair rate
Continue to collect rent on the property
Apply for a Court Ordered repayment plan
File a Chapter 13 or 7 Bankruptcy

When home owners are faced with the reality of facing a potential foreclosure, many experience a state of paralysis. They don’t know what to do. Selling the home may not be an option since the equity appears to have vanished. To fight foreclosure or not? That is the question. Clouding the answer is perhaps the biggest misconception, “Hiring an attorney is not a cost-effective option.” If I can’t afford to pay my mortgage, then how in the world can I afford to hire a competent attorney? And why should I, if I am upside down in my home? First of all, EVERYONE can and should hire an attorney to represent them in their foreclosure case. There are many competent attorneys who specialize in this area. Due to the growing number of these cases, many attorneys have become “experts” in this area. Due to the fact that most of these cases are very similar, many excellent attorneys have experienced staff and can offer extremely affordable payment arrangements. Most people don’t know that once the foreclosure proceeding has started, the bank will not accept any future mortgage payments - doing so may adversely affect their ability to foreclose on your property. Furthermore, the bank pays any delinquent real estate taxes and the insurance on the property. In summation, once the bank files a foreclosure lawsuit, most of the homeowner’s expenses are being paid by the bank (mortgage, taxes and insurance). However, as the legal owner of the house with full possession, you have all the rights associated with same including residing in your home, collecting rents on the property, etc. Imagine the “EQUITY” you can save / build, if you fight the foreclosure case for a year or more. The cost of qualified legal representation is a drop in the bucket compared to your typical home ownership overhead. Time is money and the real estate and financial markets are likely to turn around. The hiring of the right attorney will save you thousands of actual dollars, in addition to thousands in time value of money. Its really a no-brainer.

StopForeclosureLawyer.com and the Law Offices of Charles L Neustein P.A. is a law firm focusing on the representation of home owners and investors defending their property from bank foreclosure. The goal of our foreclosure attorneys is to cost effectively stop foreclosure.

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StopForeclosureLawyer.com - Foreclosure Defense Law Firm - Foreclosure Attorneys

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I met someone Friday night who is in foreclosure. They have a job and simply decided to stop making payments because their loan amount now exceeds the value of the home. They're living rent free while awaiting eviction.
I have an acquaintance who is living in a home he had formerly rented from the former owner. He moved out, the new buyer never made a payment so he moved back in and is living rent free.
I realize there are a great number of people who are losing homes through misfortune or because of the use of risky financing but I'm curious how many unscrupulous people there are skewing the home foreclosure statistics that could make their payments but choose not to.
Do you personally know anyone in either category first hand?
Brown9488, I hear you! The first person was the mother of my friend's flight instructor. I commented to him about how she seemed to be a hard worker and that she's been successful since moving here from Russia. That's when he told me about the foreclosure.
The second person is someone I ride bikes with occasionally. He probably hasn't had a real job in many years but I wonder if he expects the government to take care of him when he gets old and is destitute.

I do not, but i'm not surprised to hear that there are people who are taking advantage of situations like this.

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