CAN I STILL TAKE IT OUT OF FORECLOSURE IF I STILL TRY TO CATCH UP AND MAKE AS MANY LITTLE PAYMENTS TILL i PAY THE PAST DUE AMOUNT AND SAVE MY HOME FROM BEING SOLD?
2006-09-05 07:02:02 · 7 answers · asked by BEDROOMBULLY2000 1 in Business & Finance ➔ Renting & Real Estate
Every scenario is different. Your best bet is to get a hold of your bank and try to work something out. Banks usually do not want to go through with the for closure. It is timely and expensive. Call your bank!
2006-09-05 07:04:28 · answer #1 · answered by mortgage_info_4u 2 · 1⤊ 0⤋
Have you received your NOD (Notice of Default)? It has been in forclosure for 60 days correct? 1. Call your lender, see if they will re-afirm your note. Make extra payments to them. 2. If you have not gone to court as of yet, it may be workable. Do you have a friend or family member willing to buy your home (perferbly a friend). They buy your home, you live there, pay them with a land contract, and in 2 years refinance it - pay the friend off. It is legal to do. But do call your lender, see if they are willing to help you. ok - There are hard money lenders that will do a refinance on your property, but you will only get 65 LTV (Loan to value) of your appraised value.
Good luck to you.
2006-09-05 23:46:02 · answer #2 · answered by W. E 5 · 0⤊ 0⤋
If it is in foreclosure it is up to the bank or trustee who holds the note. Odds are if they have gone to foreclosure they are not intersted in fooling with it much longer; if it hasn't been advertised for sale, you might have a chance. CONTACT YOUR LENDER RIGHT NOW and ask them. Be prepared to send payment of some type TODAY!
2006-09-05 14:05:04 · answer #3 · answered by wizjp 7 · 1⤊ 0⤋
contact your mort company--they will attempt to work a deal w/you talk to them. Sell or let go the fancy car..a home is most important
2006-09-05 14:06:38 · answer #4 · answered by Weatherman 2 · 0⤊ 0⤋
When did you receive your notice of default and what state are you in? Contact me at my email address below. or cal l562-467-7320.
2006-09-05 14:07:50 · answer #5 · answered by Debbie P 2 · 0⤊ 0⤋
That is up to your lender
2006-09-05 14:04:32 · answer #6 · answered by Today is the Day 4 · 0⤊ 0⤋
CALL THE MORTGAGE LENDER AND ASK!
2006-09-05 14:04:43 · answer #7 · answered by Oh Boy! 5 · 1⤊ 0⤋