Foreclosure. Is it too late?? Can I keep it now?
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First, I'm so sorry to hear this is happening to you. If you were still living in the house or had been making periodic payments, there may have been options, but I'm afraid if it is set to sell, it is to late. You can contact your mortgage company, but I don't think they will (or can) do much for you. If they do agree to stop the foreclosure, be prepared to pay for the attorney fees that the bank has had to incur. Those always have to be paid before the mortgage company can do anything.
Good luck to you
I think it is a goner. The bank is going to want all 15 months of payments, plus all of those expenses from the foreclosure.
Be prepared for a sharp drop in your credit score, I would expect it closer to 400.
Your only option to avoid foreclosure is to satisfy the financial requirements of the original mortgage. Unless you can make an arrangement with the mortgagor (somewhat rare), you can only redeem your house with full payment, or a bilateral agreement on the parts of you and the mortgagor.
Given your low credit score, I don't hold a great deal of hope for the mortgagor cutting you any slack here.
Should you be able to reach an agreement with your mortgage holder, I strongly recommend that you negotiate to remove your ex-spouse's name from the mortgage.
Your first step should be to call the mortgage company and explain the situation, I'm sure they will find any sort of agreement because they loose more when the property goes to foreclosure. Just call at least you can postpone the sell and get a good lawyer he or she would be able to give you a better advise.
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