Legal Question in Real Estate Law in California

Re: Qualified Written Request

It is difficult to say what you should do, because the facts you provided are very minimal. What request are you making of your lender? Loan Modification, Installment Plan, Voluntary Surrender? If you have an NOD recorded against your property, and you are just now (20 business days ago) requesting a loan modification, its going to be very unlikely that you will receive a response and modification in time to avoid foreclosure. Post-Obama home rescue plan announcement in March, lenders have seen a 1000% increase in the number of loan modification applications, and as such, they cannot keep up with the pace. You need to be on the phone every day to their loss mitigation department, and need to be as persistent as you possibly can. They are not going to reach out to you - they will let your file sit until either you get someone to assign it, or it eventually works its way through the system. The later will probably not happen in time to avoid foreclosure.

You should also consult with a bankruptcy attorney now. You need a backup in the event that loan modification, or whatever you are requesting does not work. Chapter 13 bankruptcy is probably the only chance you will have of saving the house, but it still won't work if you cannot afford the base mortgage and housing costs plus a payment to repay the delinquent amounts in a repayment plan. Still - you need to consult an attorney now or you could easily lose your house waiting for your lender to get to your file.

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