Posted on: 08th Apr, 2009 02:18 pm
I HAVE SOME QUESTIONS, OK FIRST OFF WE ARE WAY BEHIND ON HOUSE PAYMENTS, LIKE BACK TO 2004, BEEN IN CHP 13 AND CHP 7 FINALLY GOT A LOAN MOD THEN HOUSE CAUGHT FIRE, WHAT I WANT TO DO IS BUY THE HOUSE FROM THE MORTGAGE COM., BUT SINCE I HAVE HAD NO PAYMENTS, I ORGINALLY BORROWED 60,000, THEY SAY I OWE 104598.00 BECAUSE OF THE DAILY INTEREST, WILL MORTGAGE COMPANIES WORK WITH ME AND LET ME LIKE OFFER A PAYOFF TO JUST OUT RIGHT BUY THE HOUSE FOR A SETTLED UPON PRICE. HAVE U EVER HEARD OF COMPANIES DOING THIS
Hi MZDAWNALINA,
Generally, if you are delinquent on the loan, the property is foreclosed on by the lender and is sold off at an auction where the highest bidder gets the ownership of the property. I think you should directly talk with the lender and see if they would allow you to offer a payoff to buy the house for a settled upon price.
Generally, if you are delinquent on the loan, the property is foreclosed on by the lender and is sold off at an auction where the highest bidder gets the ownership of the property. I think you should directly talk with the lender and see if they would allow you to offer a payoff to buy the house for a settled upon price.