Posted on: 14th Jul, 2009 12:25 pm
My husbands hours have been shortened and I cannot find a job. We live in S. Florida. Can a foreclosure occur if we pay half of our mortgage payments until things improve? We will still be paying towards our loan every month.
You must first work out a payment with your current lender, before sending a reduced amount. Lenders will foreclose if you are not paying the full amount, unless agreed upon by both parties. Contact your lender and explain your situation. I hope this helps...
Guest
Your half payment may result in a foreclsoure for sure
Best thign would be call the bank and see if they can help you with loan modification
Also you can write a hardship letter to your lender explaining your situation
you can fidn a sample hardship letter on this forum,
http://www.mortgagefit.com/problems/hardship-letter.html
Good luck and feel free to ask
Your half payment may result in a foreclsoure for sure
Best thign would be call the bank and see if they can help you with loan modification
Also you can write a hardship letter to your lender explaining your situation
you can fidn a sample hardship letter on this forum,
http://www.mortgagefit.com/problems/hardship-letter.html
Good luck and feel free to ask
