Posted on: 22nd Mar, 2012 02:29 am
I lost my job around 19 months ago. I've been struggling to pay my mortgage but I haven’t been 30 days late. However, I was receiving letters from my lender regarding delinquency assistance. Now I have a job and want to get back on my feet. Today I received a Pre-Foreclosure letter from the lender which I need to respond within the next 30 days. What constitutes a delinquency? If I have to hire an attorney, this will put me further behind financially.
Hi Namglin,
You will be called a delinquent borrower when you have missed your mortgage payments. Though you have been late on your mortgage payments, you haven't missed your payments. As you haven't missed your mortgage payments, the lender cannot foreclose the property. You should contact the lender and try to sort out the matter with them.
Take care
You will be called a delinquent borrower when you have missed your mortgage payments. Though you have been late on your mortgage payments, you haven't missed your payments. As you haven't missed your mortgage payments, the lender cannot foreclose the property. You should contact the lender and try to sort out the matter with them.
Take care
The preforeclosure notice that went out, was a new letter the lenders are sending out, because of all the backlash from homeowners and wrongul foreclosure. This notice will give the lender the proof that they have contacted you and tried to avoid any further action. If you are not 30 days late, but you are incurring late fees, then this is probably why you received the letter. I would send the lender, certified, a QWR, qualified written request. Ask them for the transaction history on your account. Review it and make sure it matches your records and cancelled checks. Good luck
