Posted on: 29th Oct, 2010 06:39 am
My forebearance ended through mortgage company. I was told that what was offered is an increase in mortgage and fixed rate. If I don't accept the terms in 72 hours they was going to forclose on property immediately is there any way I can dispute this because the terms are in possible they are setting me up to fail.
Welcome Barbara,
Once the forbearance period ends, the lender has the right to ask you pay all the delinquent mortgage balance. If you're unable to pay that, then the lender can foreclose the property. You should contact your lender and reapply for a forbearance. This will give you some more time to better your financial situation. Once your financial situation improves, you can pay off the mortgage.
Once the forbearance period ends, the lender has the right to ask you pay all the delinquent mortgage balance. If you're unable to pay that, then the lender can foreclose the property. You should contact your lender and reapply for a forbearance. This will give you some more time to better your financial situation. Once your financial situation improves, you can pay off the mortgage.