[metalchick94666]

foreclosure notice in the mail what do I do? So my close friend is in a really bad situation that she thinks isn't that bad. She hasn't paid her mortgage in 10-11 months and she owns the house and she keeps getting letters in the mail/phone calls telling her that her payment was late. About 2 days ago she got a letter in the mail from country wide saying that she owes $20,000 by May 16th or they will start foreclosure proceedings. She is stuck in a mindset that she will not lose her house because her house doesn't have any equity but I am not sure if that is true or not. She is in about $500,000 in debt for the house and she is thinking about just filing bankruptcy but I have a feeling she will still lose her house. She is on unemployment and many people are calling her and sending mail about all of her bills being paid late. She thinks that She will not lose her house because there are other options. I tried telling her that she should sell her car because she will get about $20,000 and she can just use her old car she used to have that she is letting her son borrow but she said she can't live without her car. I told her that she won't even be able to pay for that car when she goes through foreclosure and that she can't just live in her car if she loses the house. If she sells her car and gives the bank the 20K she will be in the clear for a little bit. But she also hasn't paid her taxes in god knows how long. She isn't making an effort to contact the people to see her options but I have a feeling she doesn't have any options. If she files bankruptcy won't she still lose her house? And won't they still put her house through foreclosure if she doesn't have any equity? I would like a lot of information for what she can do to try and save her house, and I would like to get my facts straight. Im also trying to tell her that she should have gotten this notice a long time ago and I don't think they are going to make it "easy" on her because she is almost a year behind in payments. She doesn't care about her credit either so thats why she doesn't care if she files bankruptcy. She has already filed bankruptcy before in the past. Please give me information about this. Thank you.

[lane b]

sounds like she is one of those people that misuse the bancruptcy system. she will be out on her ear soon and of course blame everyone else

[Frank o]

As you stated, her selling the car is about her only option for keeping the house. Your friend has procrastinated so long that working something out with the bank is out of the question. She has been in denial and I hope that you as a friend are there when things down. Then, what happens when her unemployment runs out? Even if she files bankruptcy she will still have no means to pay for the house. I wish her luck in the future.