Posted on: 01st Dec, 2009 06:05 pm
home is 3 months behind and is facing forclosure I am a single mother of a gambler and left I do not make enough for the mortgage payment so I got an apt. What are my options. He was to try and sell the house but just desserted it.
You will first need to decide if you can afford the home or more importantly what you can afford. Your current lender may conisider a modification with your situation if you can show the ability to make payments. Call them immediately to try and stop any foreclosure proceedings.
Hi Guest,
Are you on the mortgage docs? If you are the co-borrower of the mortgage, then the lender can sue you for the mortgage dues. Also, if the property goes into foreclosure, your credit would be affected. You can apply for a loan modification with your lender and check out if he agrees to it. Or else, you can contact your son and try to sell off the property.
Are you on the mortgage docs? If you are the co-borrower of the mortgage, then the lender can sue you for the mortgage dues. Also, if the property goes into foreclosure, your credit would be affected. You can apply for a loan modification with your lender and check out if he agrees to it. Or else, you can contact your son and try to sell off the property.
The real question is if you can afford the house payment or not. A Loan Modification, if you qualify will get you current and maybe even lower your mortgae payment.