Posted by Marcos on September 17, 2003 at 16:53:42:
How long does the DOS take? You’ve got me. I’ve personally never seen it done. Not to say that it doesn’t happen. But, usually the bank talks about it, and yet never does anything.
Typically it would take someone notifying the bank that a transfer has taken place. As long as you pay the payments, it really isn’t too much of an issue.
The QCD CAN trigger the DOSC. Notice I say can, not does. There is no guarantee they will ever call the loan due.
Typically you would have at least a few months longer than your foreclosure cycle to rectify. For instance here in Florida, it takes four months. So, a DOSC wouldn’t be an issue as long as I knew I could sell it in six months or less.
Yes, you do have to worry about seasoning if you file a QCD. Now, you’re on title. Personally seasoning hasn’t been too much of an issue for me personally yet. But, we’ll see what happens in the future.