What can I do if I'm behind on my mortgage payments?

What are the best options for someone who is behind on mortgage and property taxes? (Due to slow work issues, not spending.)

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Anonymous

Asked by Anonymous at 12:26 PM on Feb. 11, 2009 in Home & Garden

This question is closed and filed in the CafeMom Encyclopedia.
Answers (8)
  • Not sure but that stimulus package is supposed to help people who are behind. Maybe call the bank and ask them?
    Anonymous

    Answer by Anonymous at 12:27 PM on Feb. 11, 2009

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  • I advised her to try to refinance, but she said the bank wouldn't even talk to them.
    Anonymous

    Answer by Anonymous at 12:29 PM on Feb. 11, 2009

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  • With the mortgage, can't you just send in a payment and a half until you are caught up? Seems to be they would want some money, compared to none. It is not beneficial for mortgage companies to reposses your house, because then they lose money in the long run. As for the property taxes, I would try to borrow money to pay them. That is important. (Hope this helps, I am typing with no contacts in) YIKES!
    pupmom

    Answer by pupmom at 12:37 PM on Feb. 11, 2009

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  • The bank will get a letter stating you are behind. Then depending on the bank will decide what happens. Some may demand the money be paid immediately others will front the money and then go after you for difference. With the current housing crisis most banks will probably pay if your current on payments. No one wants another house in foreclosure.

    Most states give you a year. So send in payments. They won't send it back. They may eventually do a demand for payment but this may buy you some time.

    Also try that HOPE program set up a few years ago. 888-995-HOPE you can google to
    partiesbyjan

    Answer by partiesbyjan at 12:41 PM on Feb. 11, 2009

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  • I googled and found that HOPE program. I am going to pass on the info to her. The mortgage company said that they would pay the taxes and then increase the payment. I am not sure why they didn't do that. I will ask more questions, but she is at work now. Thanks for your help.
    Anonymous

    Answer by Anonymous at 2:13 PM on Feb. 11, 2009

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  • Go to naca.com they help people nationwide. They are fabulous. They work fast too.
    tneeley

    Answer by tneeley at 2:41 PM on Feb. 11, 2009

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  • My husband and myself went through NACA. They are an excellent non-profit association. They can be s.l.o.w so you have to have patience. Our home even went into foreclosure and NACA got it postponed until they worked out a settlement for us with them.

    Loansafe.org is also another EXCELLENT source. There are individuals that run the furoms that give great advice. They are helping A LOT of people right now :)

    You can send me a message if you would like more info or to ask questions.
    tandknix

    Answer by tandknix at 6:32 PM on Feb. 12, 2009

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  • I wanted to clarify..NACA states that results often come at 60-90 days. Ours came on day 90...now that they are really helping people they are stating 120 days, but they will have all foreclosure stopped if needed. They are slow in returning phone calls sometimes and I have heard many complaints in that area. Our rep was great though :)
    tandknix

    Answer by tandknix at 6:34 PM on Feb. 12, 2009

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