Posted on: 19th Jul, 2010 09:03 pm
Hello,
How many months behind will I have to be behind on myu mortgage before I lose my house. Currently I am behind on my June and July payment, but I will be making my June payment this week? Of course I am already getting the scary mails and calls about losing my house.
Please advise
Thanks
How many months behind will I have to be behind on myu mortgage before I lose my house. Currently I am behind on my June and July payment, but I will be making my June payment this week? Of course I am already getting the scary mails and calls about losing my house.
Please advise
Thanks
Hi BKS!
Welcome to forums!
The lenders will generally foreclose the property if you're 3 months behind on your mortgage payments. If you want to save the property, then you would contact your lender and apply for a loan modification. Your interest rate would be lowered and loan term would be increased which will make it affordable for you to pay off the dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lenders will generally foreclose the property if you're 3 months behind on your mortgage payments. If you want to save the property, then you would contact your lender and apply for a loan modification. Your interest rate would be lowered and loan term would be increased which will make it affordable for you to pay off the dues.
Feel free to ask if you've further queries.
Sussane