Re: mortgage

Posted by jules (64.113.75.166) on July 13, 2002 at 21:56:30:

In Reply to: mortgage posted by cindy on July 02, 2002 at 16:41:17:

I used to be a foreclosure officer. Different states have different methods of foreclosing. It's possible that your information has been sent to an attorney (which is where the fees come in) A first legal will be filed which is the lawsuit againts you and any other mortgage company you might have. You will be notified about this and the information will also be recorded at the courthouse. It is entirely likely that you will receive these papers soon. Generally, if you haven't made your house payment in 3-4 months, your file will be sent to an attorney and it takes from 30-60 days for this to be filed. I would strongly suggest calling your mortgage company and asking for information on how to reinstate your loan. If you have an FHA loan, ask about a partial claim. This is where HUD wires money to the company for your past-due payments and places this as a seperate lien on your house that you pay after maturity. A repayment plan might be good as well, suggest you pay 1/2 of the total due (payments + attny fees) and setting up a repayment plan for 6 months or less.

http://www.hud.gov/foreclosure/index.cfm

This website will help with any questions you might have.

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