Posted on: 21st Sep, 2009 02:55 pm
I want to know if someone can advise me on this. I haven't been making my mortgage payments since April 2009. I have been talking with Wells Fargo and they sent me a Stipulated Partial Reinstatment / Repayment Agreement. They want me to pay on October 08, 2009, the sum of 751.84 and on December 07 2009 the amount of $15,190.94. Of course I don't have that amount of money. I called them and told them it would be impossible to gather that amount in a short time according to my financial situation. They told me to sign the agreement make the October payment and two weeks before December 7, to call them and tell them that I won't be able to make the payment and see if they can arrange another plan for me. I don't know if I shoul do it, I'm I waving any rights if I do that? It is convenient? I'm very confused and desperate!!! Please help me.
Hey Magdalena,
If you sign the agreement, it means that you are accepting the terms and conditions of the repayment agreement. Thus, you will have to follow the terms and conditions of the agreement. However, depending upon your financial situation, if you are unable to pay the dues according to it, you can definitely apply for a new repayment plan.
If you sign the agreement, it means that you are accepting the terms and conditions of the repayment agreement. Thus, you will have to follow the terms and conditions of the agreement. However, depending upon your financial situation, if you are unable to pay the dues according to it, you can definitely apply for a new repayment plan.
Thank you Adonis for taking the time !!!! I feel much better now.
Thats correct ifyou didnot make commitment ( Sign a document) then you do not need to worry
But read the terms before you sign anything
But read the terms before you sign anything
Hey Magdalena,
You are most welcome :) In case you've further queries regarding mortgage or related issues, feel free to post in the forums. The members participating here will definitely try to answer your queries.
You are most welcome :) In case you've further queries regarding mortgage or related issues, feel free to post in the forums. The members participating here will definitely try to answer your queries.