Posted on: 18th Mar, 2009 06:31 am
I HAVE TO PAY TO MY MORTGAGE COMPANY $1559.00 BY THIS FRIDAY SO THEY WANT START FORECLOSURES - I DON'T HAVE IT. ANY SUGGESTING ON WHAT TO DO????
your first step is to call them and explain your situation, request a modification or some other solution. see what they can do for you.
the first and most important step in all cases is to discuss the situation with the lender.
the first and most important step in all cases is to discuss the situation with the lender.
Hi Guest!
Welcome to forums!
I agree with George. You should have informed your lender about your hardship when you defaulted your payments and asked for a solution. However, if you want to save the property now, you will have to speak to the lender for a loan modification as George has suggested. You can also request for a forbearance. In this process, the lender will suspend or reduce your payments for a certain period of time depending upon your financial situation. To know more about forbearance, check out the given link:
http://www.mortgagefit.com/forbearance.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I agree with George. You should have informed your lender about your hardship when you defaulted your payments and asked for a solution. However, if you want to save the property now, you will have to speak to the lender for a loan modification as George has suggested. You can also request for a forbearance. In this process, the lender will suspend or reduce your payments for a certain period of time depending upon your financial situation. To know more about forbearance, check out the given link:
http://www.mortgagefit.com/forbearance.html
Feel free to ask if you have further queries.
Sussane
If those you need more information you can try
http://www.mortgagebreakdown.com/foreclosure-loan-forbearance.aspx
or if information about the new stimulus package is needed try
http://www.making-homes-affordable.com/
http://www.mortgagebreakdown.com/foreclosure-loan-forbearance.aspx
or if information about the new stimulus package is needed try
http://www.making-homes-affordable.com/