I live in Illinois and am facing foreclosure. We have been ignoring our lender's calls for about 30 days now. We haven't made a payment on our mortgage since April, 2014. We were served with foreclosure papers in September.
The home loan was discharged in our bankruptcy in early 2013, but we cannot afford the $2,200 monthly payments with my wife being out of work due to our daughter's medical condition.
The lender keeps calling to try to evaluate us to see if we qualify for any of the modification/repayment plans, but I'm guessing that we probably don't. We already got a HAMP remodification loan in 2012, and my $35,000 current annual income simply wouldn't qualify us to stay in a $300,000 home. Not to mention my home business is very slow right now due to loss of a large client.
Should we keep ignoring the lender's calls, or should we go ahead and let them determine if we qualify for one of the modification/repayment plans?
My wife is concerned that if we let them evaluate us and they determine by our income that we do not qualify for any assistance, it will accelerate the foreclosure process.
If you know of any ways to slow down the foreclosure process, please reply. Thanks!
The home loan was discharged in our bankruptcy in early 2013, but we cannot afford the $2,200 monthly payments with my wife being out of work due to our daughter's medical condition.
The lender keeps calling to try to evaluate us to see if we qualify for any of the modification/repayment plans, but I'm guessing that we probably don't. We already got a HAMP remodification loan in 2012, and my $35,000 current annual income simply wouldn't qualify us to stay in a $300,000 home. Not to mention my home business is very slow right now due to loss of a large client.
Should we keep ignoring the lender's calls, or should we go ahead and let them determine if we qualify for one of the modification/repayment plans?
My wife is concerned that if we let them evaluate us and they determine by our income that we do not qualify for any assistance, it will accelerate the foreclosure process.
If you know of any ways to slow down the foreclosure process, please reply. Thanks!