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12-14-2009, 08:54 PM
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Is the bank going to take my house? Is foreclosure
going to start? I am now 5 months past due. But in this month (Dec) I am making a payment for 3 months. So going into Jan I will be Nov, Dec past due and then own for Jan the month I am in. Can they still foreclose my house? I will be caught up with all payments in the middle of Jan. Just went through some ruff times. What is going to happen
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12-14-2009, 10:22 PM
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First thing you should have done a long time ago was call the mortgage company or bank and told them. I would certainly call them immediately before they ruin your credit, if they haven't already! You should tell them you will be up to date by the middle of january and the reason why and assure them it won't happen again.
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12-15-2009, 03:26 PM
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Re: Is the bank going to take my house? Is foreclosure
It sounds like you will have a rolling 60 day late, and the lender won't foreclosure, however my concern is that some lenders will send back payments in order to scare you in to sending more...their logic is that you have friends and family or even matress money you'll come up with to make payments...
Remember they are a bank and they will do and say anything possible to get their money. The original mortgage documents outline how they will foreclosure should you get behind. You can read through you closing documents and find more. If you have any more questions just email me or visit our website. Thanks, and I hope you don't lose your home. Stan A. and Randy D. Mortgage Assistance Group 623-486-4505 w w w . m a g - a z . c o m |
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