|
|
For those scared of Foreclosure
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Buck
(12.205.160.202) on November 16, 2003 at 11:34:43:
I just thought I'd drop a line and tell about my experience with foreclosure. Last September (2002) was when I made the last payment on my mortgage(s). I was building a new house and moved into it in October, 2002. Since my old house had 3 mortgages to the tune of $180,000 total and the house was only worth $100,000 I was just gonna let it go back to the bank and deal with the deficiency later. I though I'd rent it out to collect a few months rent before they took the house back from me. Well here I sit after 13 months and I am just now getting a letter stating they are going to sell the house in at least 2 months from now. The two 2nd mortgages have already been sold. I live in Iowa by the way. So when its all said and done, it took them 15 months to take the house. So I guess what I'm getting at is dont be afraid if you are a week or a month late on your house payment....you've got time. hehe
Follow Ups:
Post a Followup
|
