How Do I Get the deed out of my Name??

[indskys007]

What is the name of your state (only U.S. law)? NJ

While living in NJ I filed for chapter 7 bankruptcy it was discharged in 7/2009 .my house was included and never reaffirmed. In 4/2010 I vacated my house and informed the mortgage co (GMAC FHA Mortgage) that I was leaving they winterized the home and changed the locks. The reason I left the home before my foreclosure was complete is I have a special needs child that we did not want to move without finding a good school for him. We rented a house in Pennsylvania over 2 hours away. Later we found out that we would not ever be able to get another mortgage until our NJ home was “seasoned” for 3 years meaning the deed needed to out of our name for 3 years. We contacted a realtor and tried a short sale but the bank repeatedly declined for many reasons. After we met all their demands they denied us because the house is vacant. Is there any Way to speed up the foreclosure process?? We just want the house out of our name. They are looking into a deed in lieu but say since the house is vacant it will probably be denied. I just want to get on with my life. What Can I do???

 

[HUD-1]

The time to attempt a PFS or a DIL is BEFORE you move out. You made a decision to move out and now there are some consequences. Keep trying to offer a DIL, but if they don't accept it in the end, the lender will need to move on a foreclosoure to minimize their curtailed interest. The waiting period for another FHA loan will be three years from the date HUD pays a claim to your lender, which apparently has not happened yet.

 

[indskys007]

The time to attempt a PFS or a DIL is BEFORE you move out. You made a decision to move out and now there are some consequences. Keep trying to offer a DIL, but if they don't accept it in the end, the lender will need to move on a foreclosoure to minimize their curtailed interest. The waiting period for another FHA loan will be three years from the date HUD pays a claim to your lender, which apparently has not happened yet.

we tryed loan mods while we lived there ...we had our house on the market while we lived there with no offers...gmac refused to work with us...we couldnt wait until the very end (which we thought was alot sooner)because we needed to get our son in a school that could provide for him...we called the bank when we were leaving and they never informed us of anything...dealing with this is a nightmare...i guess they would rather wait till the house is worth nothing then get most of there money back in a short sale...

my questions are:
is there anything we can do to speed up the process??

what does it mean HUD pays the claim?

thanx

 

[HUD-1]

You stated that it was an FHA loan. In that case, the lender will foreclose on the property and then deed it to HUD/FHA. HUD then pays off the lender in full as part of the insurance claim. The lender has certain timeframes during which they must foreclose and deed the property to HUD. If the lender misses these timeframes, they lose some interest. The only thing you can do is either get a short sale or a DIL approved.