Mortage Forclosure Warnings?

[Mark80]

I am 1 1/2 months behind on my Mortage. But its now starting to get caught up and will be soon. I am very worried though that any day I will be foreclosed on. Before your lender does this do you usually get a warning? Possibly a pay us this amount or else? I was hoping I would, so far they just send statements saying I owe a past due amount and nothing else.

My biggest fear is anyday I could be forclosed on and we will be out in the street? If I had some warning I might be able to borrow from my parents as a last resort.

Also if it does go in forclosure is that it, or can you still catch up before the end date and get back on track?

TYVM!

[auttienkassiemo]

I see you are in Missouri. DH and I haven't been able to make a payment on our house since July 1. I know they will take my house, in fact we are giving it back in our bk case, but we just this month got our last notice of default letter. It said in 32 days they will begin foreclosure proceedings. I think you have a little while before they even start to try and take your house.

[Mark80]

I'm calling them tonight and pleading to give me more time, thats good to hear though. Everything was way off track, and now we are picking up the pieces! I am hoping by some stroke of luck they might work something out to help me catch up, but I am not sure.

I wonder if saying I am in bankruptcy is a good or bad thing when negotiating?


I grew up in Fenton by the way, not to far from House Springs! Good luck to you guys!

[hereforinfo]

You will definitely have plenty of notice. Try a google search for foreclosure timelines for your state and you should get a general idea of how long it takes. In some states, foreclosures are taking a year or more.

[Mark80]

I looked it up, for Missouri it says 3 months.

I guess though thats how long it takes once its started, and I should get a notice that they are taking action first.

[Mark80]

Bad news, update:

I noticed a stack of unopened mail tonight sitting on my wifes desk, to my dismay I noticed a letter from citimortgage in the pile!

I opened it up and It was a notice of default, threatening legal action if I do not catch my current mortgage up by the end of november.

My question is since I filed at the end of october if I have some kind of forclosure protection until my case is over? I know no one can try to collect a debt, but I didn't know if that included secured debts. I obviously need to call them tomorrow and try to buy more time, but I just wanted to know if I have any protection from my BK filing.


Thanks.

[chloe0724]

Mark,

Are you working with an attorney? If so, make sure they are aware of what's going on.

Are you 13 or 7? If 13, you should be able to put your arrears into the plan, if 7, I don't think the bank will reaffirm if you're not current.

[Mark80]

Thats was something my Attorney never informed me about, possibly because I wasn't behind on my mortgage payments on my initial consultation.

Today I am 45 days behind on payments, and my court date is at the end of the month. I am filing Chapter 7!

What am I suppose to do now? I am going to call them tomorrow but it hasn't been easy getting through to them.

I also noted in my paperwork that I am suppose to have some reaffirm papers signed for property I am going to keep. What does that mean?