Foreclosure Applications
my mortgage company applied for foreclosure without reaching me when I was behind 3 months.?
SO my mortgage company applied for foreclosure while i was 3 months late on payments, but was in middle of modification process with them. I didn’t receive any letters or calls to inform me of this, while I was waiting 2 to 3 weeks waiting time for them to answer my request for modification. Now they say they have already paid for Lawyer feeds ($5,000) and now if I want my house I have to pay the three months payments + the 5 grand lawyer fees. They said they will accept a huge lump around 5,000 grand and then be able to divide the rest of 7,000 in 10 months! were they allowed to apply without reaching out to me and asking whats wrong specially while I was waiting for them to answer my Modification application that I had applied for. And am I responsible to pay for the lawyer fees if I decided to pay for the late payments to salvage my house from foreclosure?
Please advice me on this situation!!!
If you’re behind in payments they can pretty much do whatever they want. All the terms are in your mortgage contract.
Most real lenders have in house legal, so I am surprised that they are using “outhouse” lawyers.
I have never heard of a mortgage company requesting you to pay legal fees. I am not an attorney, but generally they have to sue you and get a court order with the stip saying the judge approved attaching legal fees to your mortgage balance.
I would prob pay the mortgage balance which would make it harder to foreclose on you if you are current. They generally need to send a notice of default letter to you.
if you don’t pay the curr mortgage balance they will be foreclosing based on what your statements here.
I would go seek immediate legal advice before I act.
Best source for Foreclosures and Short Sales in Asheville NC by Patton Property Group
|
|
The D-I-Y Loan Modification Special Report $19.99 Do-It-Yourself Safe, Effective Loan Modification – All In One Book! * Don’t pay thousands to a loan modification company * Learn the top ten insider secrets * Includes a comprehensive multimedia training program * We will walk you through the loan modification process step by step * Sample hardship letter included * Explore your options to make sure loan modification is right for you * Complete l… |
|
|
Saving loans with servicing technology.(Servicing): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on September 1, 2008. The length of the article is 1363 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Saving loans wi… |
|
|
Personal, professional approach can reduce foreclosures.(Servicing): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Thomson Gale on August 1, 2006. The length of the article is 1125 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Personal, p… |
