Posted on: 06th Oct, 2010 01:22 pm
Been trying to work out a loan mod with my mortgage company for a year. Would not give me a second postponement and the house was foreclosed on yesterday. Lots of questions still. REALLY want to stay in the house, and can make the monthly house payment, but credit is shot due to not being allowed to make the payment for a year. (Was told on the phone that it wouldn't come to FC as there were so many workout plans, ha!) I'm in Texas, so there is no redemption period. I was told that we will have 30 days to vacate. Haven't even begun to think about that, as I was told we should be able to workout. I'm wanting to know how likely I am to be able to get the lender to allow me to keep the house/reinstate the loan/give me a new loan/etc?? Any information would be very, very helpful.
Hi aspire4grace!
Welcome to forums!
If the property has been already sold off to another person, then you won't be able to get back the property as there is no redemption period in Texas. However, if the property is still not sold off, then you can contact the lender and pay off the dues and get back the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the property has been already sold off to another person, then you won't be able to get back the property as there is no redemption period in Texas. However, if the property is still not sold off, then you can contact the lender and pay off the dues and get back the property.
Feel free to ask if you've further queries.
Sussane
I don't have any funds to pay off anything, and they wouldn't accept the arrearage anyway I don't think. I was told by a RE Attorney, that we would have to get a loan all over again.
But I was told if there wasn't a buyer, we could still work something out with the lender, but found out today, that there was a buyer, it just was the lender itself who bought the loan from our names. Wondering if many of you have heard of the lenders working out a way for the homeowner's to get another loan/modification to stay in the home somehow?
But I was told if there wasn't a buyer, we could still work something out with the lender, but found out today, that there was a buyer, it just was the lender itself who bought the loan from our names. Wondering if many of you have heard of the lenders working out a way for the homeowner's to get another loan/modification to stay in the home somehow?