help help i just found out my house was put into forclosure?

Question

my mortguage payment was mialed back to me, when i called to find out they told me the house had been put into forclosure in dedcember,(also that month they were suppose to draft 2 payments out of my account , to my supprise when i recieved my checking account statment they had never taken the payment,s out so i immidiatly fedreal expresed the payments to the bank then it was retuned to me and this is what i was told, now i cannot get antone on the phone from the bank that will speak to me , what is my next move i have never been in this situation before..but i do not want to loose my house pleas tell me what i should do next ,as for i am having very high anxioty right about now thanks

Answer 1

The bank returned your payment because foreclosure proceedings have already begun. If they accept any money from you, they have to stop the process and wait until you get so far behind again to start the process back up. The bank doesn't want the hassle, they want to foreclose at this point. You have very few options - call the bank and get a manager from collections or the foreclosure department to talk to you. You may have to call several times. Be very patient when you call, the more patient you are, the more they will talk to you. Explain that you want your house and the amount of money you are willing to give to keep it. Work with them and they will work with you. But you need money to negotiate with them. The manager is most likely the only one that can make the decision to stop the foreclosure and work with you on getting current on your payments. You are probably behind more than those two payments, and the manager will probably want you current to stop foreclosure now. You could also try to refinance with another lender, but if you have a lot of late payments, a new lender is going to give you a really rough loan (bad interest/terms). You could try and sell your house before foreclosure as well. I hope this helps you keep your house.

Answer 2

Might want to try a refinance through another financial company but NOT another bank...

I beleive there are companies out there that will be happy to work with you, also be honest with the situation and things can go that much more smoothly. (countrywide is the only one I can remember at this time).

If you were paid up until November, but missed a payment in December, it will be 2 more months before the bank can evict you and take posession. (once it goes into foreclosure, the 'full' amount is due within 60 or 90 days, depending on how the contract is written)...

Another victim of the beaucratic nightmares that banks are known for when it comes to mortgages.

Answer 3

It's up 2 U 2 make sure the payments are sent in now U might have 2 bid on your own home you might have 2 pay the back taxes or what is owed on the home try 2 talk with the bank go there in person that might help.Good Luck

Answer 4

Contact a foreclosure lawyer right away. It's all about timing. Your lawyer can have your mortgage payments reinstated and get your house back. You must have a lumpsum money that cover all your rear payments. If you don't have the amount and you have enough equity in your house, lender will lend you a lumpsum money as a second or third mortgage to bring your first mortgage up-to-date.

Answer 5

You should contact your mortgage company first thing Monday morning and explain what happened. The last thing the mortgage company wants is to foreclose on your home because they will then loose money. If they refuse to accept your payment you should immediately look for another residence before the foreclosure apppears on your credit report.

Answer 6

Sounds like you should get a lawyer, I don't think this is leagal.