Posted on: 28th Jun, 2007 06:00 am
Hello,
I cannot afford to pay my whole mortgage for the month of June. My mortgage payment is $1418 and I am sending in $1200 do you think they will try and foreclose on the house.
I cannot afford to pay my whole mortgage for the month of June. My mortgage payment is $1418 and I am sending in $1200 do you think they will try and foreclose on the house.
Hi Vilma,
Most lenders only start foreclosure procedure after the borrower is 90 days default. So I don't think you should fear a foreclosure right now.
Most lenders only start foreclosure procedure after the borrower is 90 days default. So I don't think you should fear a foreclosure right now.
Vilma please go through this page for more information about foreclosures and when the lender normally forecloses if the loan is in default: http://www.mortgagefit.com/foreclosure.html
Miller
Miller
i agree with the other posters that your current lender will not begin foreclosure proceedings until you are in the arrears more then you are.
it's obvious that circumstances in your life (loss of job, new job/lower income, etc.) or with your current mortgage (arm adjustment, loan recasting, etc.) have changed---the time is now to determine your future with respect to your home.
if affordability will be a challenge from this point on, you might need to consider taking on a roomate or selling the property---if affordability is temporary, you still might benefit from exploring your refinance options.
hope this helps and good luck!
regards,
scott miller
it's obvious that circumstances in your life (loss of job, new job/lower income, etc.) or with your current mortgage (arm adjustment, loan recasting, etc.) have changed---the time is now to determine your future with respect to your home.
if affordability will be a challenge from this point on, you might need to consider taking on a roomate or selling the property---if affordability is temporary, you still might benefit from exploring your refinance options.
hope this helps and good luck!
regards,
scott miller
Hi,
I agree your problem,but dont worry.As per your question your mortage payment last date is month of June. And you can not pay total amount.Actually some mortage plan has facility to pay amount
after your end of your payment date. for that they do some fine but dosnt close your house.
Better way you can take remaining amount from your friend or your relative so thatyou can pay amount on time.
Because i thing its remaining amount is small & you have good credit.
I thing you got an idea...
Regards
Dilip
I agree your problem,but dont worry.As per your question your mortage payment last date is month of June. And you can not pay total amount.Actually some mortage plan has facility to pay amount
after your end of your payment date. for that they do some fine but dosnt close your house.
Better way you can take remaining amount from your friend or your relative so thatyou can pay amount on time.
Because i thing its remaining amount is small & you have good credit.
I thing you got an idea...
Regards
Dilip
dilip, perhaps you ought to pay a little more attention. the original post was dated in june of 2007 - that's almost 2 years ago.
your inane commentary does no good to anyone. please explain yourself.
your inane commentary does no good to anyone. please explain yourself.
We really need someone to delete some of these posts. Who is the moderator of this forum?
me
hold on...you trying to tell me i'm not doing my job?
to be frank...i try to be as compassionate as possible and allow for some inconsistencies where they might be relatively harmless. i know, i know...that's probably foolish in the long run. maybe i'll check with sam and see if it makes sense to simply delete like i do with our buddy "X."
to be frank...i try to be as compassionate as possible and allow for some inconsistencies where they might be relatively harmless. i know, i know...that's probably foolish in the long run. maybe i'll check with sam and see if it makes sense to simply delete like i do with our buddy "X."