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Mom Confessions Mom Confessions

Home foreclosure?

Anonymous
Posted by Anonymous
  • 21 Replies
Has anyone ever gone through one before and how does the process work? We've received a letter stating if we dont pay the $980 we owe by July 31 we could lose our home. Thats not even 2 months behind! Is it serious or are they just using scare tatics thinking that it will get their money faster?
Posted by Anonymous on Jul. 22, 2012 at 9:47 PM
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Replies (1-10):
mylilsunshine
by Bronze Member on Jul. 22, 2012 at 9:51 PM

set up payment arrangements cuz yeah they mean business

 

Anonymous
by Anonymous 2 on Jul. 22, 2012 at 9:51 PM
It will take a lot longer than 2 months to actually start the foreclosure process, at this point it's more of a warning I think. Read your loan docs, you should find specific time frames there, or call your lender. I used to work in mortgage loan servicing, but it's been a couple years now and I can't remember specifics, I just know I got a lot of calls about letters like that and we tried very hard to work with people to help it from going to foreclosure.
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mollyk124
by Silver Member on Jul. 22, 2012 at 9:51 PM
What state do you live in?
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Anonymous
by Anonymous - Original Poster on Jul. 22, 2012 at 9:55 PM
We're sending them every dime we can out of every paycheck as it is right now. My sister lived in their house 16 months from the time they stopped paying till they HAD to move out and we get this crap @ not even a full month and a half behind! Its frusterating
Anonymous
by Anonymous - Original Poster on Jul. 22, 2012 at 9:57 PM
Michigan and our lender is Chase...i know that the company just recently lost a lot of money but why idk
lovinglife0682
by on Jul. 22, 2012 at 9:57 PM
Quoting Anonymous:

We're sending them every dime we can out of every paycheck as it is right now. My sister lived in their house 16 months from the time they stopped paying till they HAD to move out and we get this crap @ not even a full month and a half behind! Its frusterating

I don't know how long ago that was but things are changing. Banks are getting caught up.
svolkov
by Emerald Member on Jul. 22, 2012 at 9:59 PM
1 mom liked this
If u can't set up a payment plan call a lawyer and look into ch 13
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Anonymous
by Anonymous 3 on Jul. 22, 2012 at 10:00 PM
Do you want to lose your home? The only foreclosure I've been through we didn't want the home anymore. (Husband bought it with his ex wife. They were to sell it and split the income, if any, 50/50. It was on the market for three years with no bites. I could not stand to live in it anymore plus the location was so far from civilization and we were both laid off at the same time and could barely afford the mortgage....)

Anyways, we told the bank we didn't want it anymore and they sent the foreclosure papers about two months after the last mortgage payment had been made. We had to be out of the house within two weeks. I don't know if it went that quickly because we told them we didn't want it or if that is the norm.
Anonymous
by Anonymous - Original Poster on Jul. 22, 2012 at 10:08 PM
No, we're not trying to lose it but we had major car issues the last few months so we got a little behind. Did u have kids that live with u full time when that happened. It's my understanding they have to give u a little longer time if kids are involved


Quoting Anonymous:

Do you want to lose your home? The only foreclosure I've been through we didn't want the home anymore. (Husband bought it with his ex wife. They were to sell it and split the income, if any, 50/50. It was on the market for three years with no bites. I could not stand to live in it anymore plus the location was so far from civilization and we were both laid off at the same time and could barely afford the mortgage....)



Anyways, we told the bank we didn't want it anymore and they sent the foreclosure papers about two months after the last mortgage payment had been made. We had to be out of the house within two weeks. I don't know if it went that quickly because we told them we didn't want it or if that is the norm.

Anonymous
by Anonymous 3 on Jul. 22, 2012 at 10:32 PM
We split custody 50/50 with his ex wife for our daughter but he is the custodial parent. They didn't even ask us about her as far as I can remember. But like I said, we wanted out and wanted to move ASAP, so we didn't try to stay any longer, know what I mean? Maybe if we had brought it to their attention, we could have stayed longer? I don't know. I was never on the mortgage, so I never looked into anything like that.

I'm sorry! I hope they work with you. I'm sure if you explained to them everything, they'll help you out. The bank for sure did not want to foreclose on us. They tried to get us to do a payment plan even after we told them to take the house, but that was before they sent the foreclosure papers.


Quoting Anonymous:

No, we're not trying to lose it but we had major car issues the last few months so we got a little behind. Did u have kids that live with u full time when that happened. It's my understanding they have to give u a little longer time if kids are involved




Quoting Anonymous:

Do you want to lose your home? The only foreclosure I've been through we didn't want the home anymore. (Husband bought it with his ex wife. They were to sell it and split the income, if any, 50/50. It was on the market for three years with no bites. I could not stand to live in it anymore plus the location was so far from civilization and we were both laid off at the same time and could barely afford the mortgage....)





Anyways, we told the bank we didn't want it anymore and they sent the foreclosure papers about two months after the last mortgage payment had been made. We had to be out of the house within two weeks. I don't know if it went that quickly because we told them we didn't want it or if that is the norm.


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