Sort of a serious question. With so many foreclosure and everything, how long would it take for the mortgage company to kick you out of your house if you just stopped paying? Could I get a year of not paying before they dropped the hammer? How long would that screw up my credit? I would still pay all my other bills...

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Be careful of some of the bullshit that is sure to come your way shortly. I would have saved this for a PM.

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Kid Cairo's Boers & Bernstein YouTube Channel

Kid Cairo: 2013 March Madness Tournament Winner!

"Cowabunga? Cowa fucking piece of dog shit! This game is diarrhea coming out of my dick!"

I dont need to, just sort of curious what the fall out would be.

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Typically 18 months. Credit will be affected.

Pretty sure it takes longer in the litigious state of Illinois. Not so sure for Indiana. May want to toss that out for the lawers to best help your friend.

Citibank went 6 months before i got the foreclosure notice, another 3 to get to court, and I received a notice saying my house was going to be sold at auction about 6 months later. So I got about 15 months. You can file Bankruptcy up until the day before it goes to auction to put a stop to it and buy yourself more time while you figure out what you are going to do.

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Nothing to fear but fear itself, and me.

I think it depends on the area you live in and how aggressive you try to fight it. Some people may be out in 9 months and others may last 6 years.

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Be well

GO BEARS!!!

My unlearned, non-legal opinion is that - along w/ David's 18months - this is a good, but VERY rough, estimative overview.

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Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George

In Indiana it doesnt take as long cuz all they have to do is come to the double wide with a couple of can openers and you're out.

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Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.

To save your credit score, burn it to the ground might be a better option.

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favrefan said:"Chris Coghlan isn't gonna pay your rent, Jimmy."

3 days. Start packing now.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Hey , want to move in with me?

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favrefan said:"Chris Coghlan isn't gonna pay your rent, Jimmy."

That's a lot of money you can bank. Any idea how long it jacks up your credit?

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Yikes...

Jimmy is in a class by himself. Take that however you wish.

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Kid Cairo's Boers & Bernstein YouTube Channel

Kid Cairo: 2013 March Madness Tournament Winner!

"Cowabunga? Cowa fucking piece of dog shit! This game is diarrhea coming out of my dick!"

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Also, and I may be wrong, I believe the best strategy is sometimes to miss 2 or 3 payments and then call your bank and say how you can't afford it and need help. You actually get more relief for not paying them as the bank would prefer you stay in the house and actually make payment.

That is what I've read. I would obviously talk to a real lawyer first.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Ferguson Jenkins got ripped once for saying that about himself.

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favrefan said:"Chris Coghlan isn't gonna pay your rent, Jimmy."

YES. the biggest mistake of my life was moving before the bank took my house away. I stopped paying the mortgage and left, when I should have just stopped paying my mortgage and stayed. it took 1.5 years before they took the house. i would have saved roughly $10k if i just did that... either way your credit is taking a hit- might as well get what you can.

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the world will always the world. your entire existence is defined by your response.

True. its sad but it is very true that missing payments is the best way to get discounts.

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the world will always the world. your entire existence is defined by your response.

credit scores are a joke. nothing can permanently ruin your credit. bankruptcy solves everything, and as soon as you have money in the bank your credit goes right back up. learn from corporations, they are people too.

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the world will always the world. your entire existence is defined by your response.

Now I see why Hank is all over the free chicken contest.

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Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George

10k would buy a lot of merino wool socks for sure

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Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.

I'll give you $70 cash for $100 worth of groceries on your EBT/link card.

you're young, you still have time to marry the wrong woman, have her shit out a few kids, buy a house, furniture, couple of cars and then lose it all in a divorce and have to pay rent for a studio apt and a mortgage on a house occupied not by you but by your ex-wife, her new guy of the month, your kids and maybe a couple of her relatives.

When I had to do this for a while I was told it would mess up my credit and ability to buy a new
house for 3 years. Pretty sure my realtor told me that.

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Flew too close to the sun on wings of pastrami

Is that word for word from Carolla? Or just a tribute?

You can try to do a short sale. A short sale is a better option than a foreclosure if you are underwater on your house and you can't make the payments. A short sale is better for your credit too. The other thing that some people do is they manage to get a loan modification, which sets them back on getting equity in the house and could possibly lengthen the years on the loan, but if approved people do pay a lower monthly payment. Definitely try to short sale your house if possible. Giving up the house and taking the hit on the credit score should be a last resort.

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To the Jews who had believed him, Jesus said, “If you hold to my teaching, you are really my disciples. Then you will know the truth, and the truth will set you free.”

Not paying your mortgage is not only a wonderful idea, but when combined with a shit-ton of food stamps every month, you can afford a new Cadillac and an iPhone 5S!

It's not a wonderful idea. It's only a last resort if you can't afford it. To make a debt and not repay it when you have the money is immoral.

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To the Jews who had believed him, Jesus said, “If you hold to my teaching, you are really my disciples. Then you will know the truth, and the truth will set you free.”