I have live here for 43 years, my husbund has become ill and cant work many hours. Our income has lowered quite substancually. And I am disabled with my heart I had a doubles bypass and we got 4 months behind on our payment . And the loan company wont refiance to bring our monthly pament down. They want forclose on us in 10 days.
2006-08-18 05:04:25 · 3 answers · asked by Bren_48 1 in Business & Finance ➔ Personal Finance
Unfortunately, yes they can. It would not be good business or publicity but to them it is just that "business". I would contact a brokerage shop that can send your application for a loan to several banks/mortgage companies. They will most likely give you your best options. There are companies that specialize in loans w/borrowers in your situation: Accredited, Delta Funding, Fidelity mortgage, Option One.
2006-08-18 05:15:48 · answer #1 · answered by BACI 2 · 0⤊ 0⤋
They will just be starting the action. There has to be a hearing, which you can attend, and the judge has to order the foreclosure. They can't kick you out without a court order.
You shouldn't have let it get that far behind without calling them. It may be too late to work out an agreement. Ask them about a re-payment plan. All they can do is say no.
Also, contact a bankruptcy attorney - IMMEDIATELY. Check into a Chapter 13. As soon as you file, that stops any foreclosure proceedings. But you have to act fast if you want to save your home.
2006-08-18 05:16:36 · answer #2 · answered by porcelina_68 5 · 2⤊ 0⤋
They can foreclose on anybody that defaults on a loan...I would call and talk to them and explain your situation...I'm sure they wil work with you.
2006-08-18 05:11:32 · answer #3 · answered by harleyryder42 3 · 0⤊ 0⤋