I'm About to Go Through a Foreclosure... Need Advice...?
Question:
Found out that it was written about 3 weeks ago, and I just got it on Monday. Bad thing is, the court date is Friday...
How's that for timing?!
Anyhoo...
What do I expect?..
Is there anything I can do to save my home?
Any advice will be appreciated!
Thx
Ginger
Answer:
http://www.naca.net/db.php3?submit=searc...
Find an attorney who can advise you on filing a bankruptcy to stop the mortgage company from foreclosing.
You may also want to find an attorney who is familiar with RESPA and predatory lending. They can assert the mortgage company broke to law, and file a suit in the district court to stop the foreclosure and possibly modify the terms or strip the mortgage.
Good Luck
You may also want to contact a HUD counselor, they can work with you and your mortgage company
You need an attorney ASAP. If your finances are so bad that you haven't made your mortage payments for so long that the bank has begun foreclosure, your biggest mistake was not talking to the bank, and letting them know you were having problems. At this point, you likely will have to declare bankruptcy to have any hope of keeping the house, if that's what you really want.
Late. You could list your home for sale with a Realtor at a very attractive price to generate potential buyers and at the same time pay off your mortgage, and closing costs. Then you could ask your bank to give you more time to finalize a sale. Banks will often negotiate. You must keep one thing in mind that the only way to find a buyer for your home ASAP is to list it below maket value. If you had some equity in your house, that would make things easier. You could also try to refinance. Good luck, though. It must be very stressful on you
OK Ginger go see a BK attorney and file Bankruptcy. This will stop the sale.
What state are you in? In California there are no true mortgages. We have trust deeds. There are no court dates. They sell your house on the steps of the court.
Why did you wait so long to get help?
I have held foreclosure off for 8 months and then paid it up.
The lender would have told you you were in foreclosure after two months were up. Then you would need to call them and work a payment plan. If you do this they will work with you. Banks don't want your house. Contrary to what you think. It is the last resort for them Call the bank work something out. They will work with you. Tell the truth and don't lie about why your behind. It's embarrassing but it is just business. Call and handle it.
If there is a court date and you have a real Mortgage then go to court and get an extension. If you file BK you will get a 30 day reprieve.
I am a Realtor and I have been through fourclosure and out of it.
Ginger,
Contact a local real estate attorney and Bankruptcy attorney to know your rights.
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