Download our Free BrochureHow to avoid Foreclosure
Do you want to save your home?
We specialize in out-of-court resolutions of Mortgage Foreclosures by negotiating with your lender. Let our expertise help you save your home. We can give you the Foreclosure help you need.
-
Stop Foreclosure News
Please call our Toll Free number
1-866-544-0990 or fill out our FREE QUESTIONNAIRE and we will respond to you promptly
|
|
|
|
|
 |
 |
|
|
|
Chapter 13 did not help me get back on track
March 12, 2009
Please help with this matter, because I thought that filing chapt. 13 bankruptcy would help the situation, but it only made matters worse. This was the the first time that my mother purchased a home of her own, but she passed away before she got to really enjoy it. I don't have anywhere else to go and I don't won't my children or myself to be homeless.
Comments
we have our home financed with vanderbilt mortgage. our payments are 1333. we currently owe 840 from june and whole month of july can they forclose on our home automatically in texas or do they have to mail us a letter, we have tried negotiating with them and they are rude and hateful, this is a newer mortgage jsut started in december and my husband got laid off 9 days after we closed and we have had trouble catching up, we both have gone back to work and can afford the paymment now just having trouble getting caught up and we so worried that we will lose our home and wondered if it has to be so many days past due before they can just come and take it thanks for any information
I believe the 4th month is the point of no return. You should be able to catch back up and should ge an all or nothing letter. Hold onto the funds if they do not work with you and expect at least the default and late charges.
I cannot give legal advise but if both of you are now employed, the outlook should be good. My opinion of course and no legal proficiency.
I cannot give legal advise but if both of you are now employed, the outlook should be good. My opinion of course and no legal proficiency.
so if we are only 30 to 45 days late can they forclose on us i sent them something every time i get paid and they have always accepted it
so if we are only 30 to 45 days late can they forclose on us i sent them something every time i get paid and they have always accepted it
Once you go 30 days past due they can start the foreclosure procees and normally will send you a letter of default. By the time you get 4 months the attourney will have and you will have to pay legal fees on top of the 4 months to stop foreclosure. You need to contact the rep and try to work out a repayment plan. If you mortgage is 500 a month maybe pay 600 or 700 till you get the month caught up. Also realize this is reporting 30 days past due on your credit each month and will hurt your credit score severely till you pay it.
There is legislation to allow modification of loans in ch 13 but it has not yet passed. It will be muddied up into ineffectiveness most likely.
I am in CH 13 and kept the house. The unmodified loan is not helping but it is no worse than if I did not file. CH 13 helped out with my other debt problems and the relatively low index that the loans are seeing now have helped to lower the interest rate a little
How you ended up in worse financial shape is something that I cannot understand. A little better but still cursed with a bad loan maybe I could understand.