Mortgage company problems?

Question

I am in default of my mortgage and the company will not give me any options other than to pay a payment and a half until I am caught up. Duh, when I can't make one pmt, I can't make 1 1/2. Please don't tell me to pay up or ask to borrow money, that's not my point. What is my point is that the mtg company has called some of my NEIGHBORS to try to get in touch with me because I have not returned calls - what's the point, they aren't interested in HELPING me. They told me neighbor that they "researched possible neighbors" to get in touch with to try to reach me. Now, my business is the whole neighborhood's. Can they legally do this? They also found my work number and have been calling there to the point where if I get many more calls, I will be in danger of losing my job. Again, please don't tell me to pay up ior borrow money - only respond if you can answer the questions I have asked. Thanks

Answer 1

This is a fine line, but they are legal in contacting your neighbors in an attempt to contact you, AS LONG as they do not disclose the reason for their contact. If they did so, they would violate confidentiality rules. Your first error was in not returning their calls. Sticking your head into the nearest sand dune is NOT going to make this issue go away.

If you wish all these calls to cease, do the sensible thing and RETURN THEIR CALLS.

If you persist in your current course of action, you can expect the calls to continue, and as well expect a foreclosure action. For you own good, deal with this NOW and in an up front fashion.

Answer 2

Your mortgage company wouldn't call your neighbors unless you were ignoring their requests to make contact and make arrangements. If you can't work out a repayment plan with their workout dept. you might want to think about selling or asking them to consider a deed in lieu of foreclosure unless you've got a second or a ton of unpaid judgments against you clouding title to the property. Home ownership is a privelage but most people these days think otherwise. If you were renting how long do you thing your landlord would take the silence and nonpayment before evicting you? If you can't make a payment and a half maybe a second job would help. Only you know how bad you want to keep your house. Good luck.

Answer 3

i would call the mortgage company CEO and tell them that you are working on getting the solution / payment caught up and that you would appreciate that they not bother you on the job or discuss your payments/mortgage history with your neighbors. i would then send a letter to the ceo to thank him for his time and assistance and confirming that you will not be recieving any further phone calls at your place of employment or through your neighbors.

can you refinance the loan and get a different mortgage company ? you would probably have a month break before its due. you might see an atty to see if you could file a bankruptcy that would stop any possible foreclosure action. i've heard you can stay a year or two without paying mortgage.

try not to let it all get you down. good luck to you.

Answer 4

I don't believe it's legal, they're sharing confidential information with your neighbors, as well as harassing your neighbors. I'd suggest calling a lawyer to find out if you have any options open to you; if they persist in calling you at work even after you've told them not to, you might be able to sue for some money, which you could then apply to your mortgage. Most lawyers give a free initial consultation.

Answer 5

If you have any equity in your home sell ASAP and take the money and rent for awhile. Otherwise the road to Bankruptcy awaits you and eventually losing the house anyway. It will take many years to restore your credit after that. I agree with the other posters that said as long as they did not release information as to why they were trying to reach you their calls were in fact legal.

Answer 6

I genuinely have a feeling you at the instant are not telling the finished tale, or you at the instant are not getting it out of your mothers and dads. loan agencies, for one ingredient, do not deliver you a receipt for money...it is the 1st ingredient it is incorrect alongside with your tale. All you get, in case you deliver in a verify, is the cancelled verify...and in case you pay online, you get a affirmation variety and that's it. in case you mail in a funds order, you had greater useful have the account variety on there or that is going to never get credited to your account...and the only receipt you get is the money order receipt and plainly in the time of your next fact. every time I genuinely have heard of this happening, the customer has achieved something incorrect. loan agencies are very, very fairly computerized and that they might pass over ONE charge (I genuinely have had this take place) however the 2d you furnish them evidence, they fix it. I additionally think of your mothers and dads lied to you approximately OO not being waiting to come to a decision what occurred so they have been given an lawyer on it....that would not take place expensive. Your mothers and dads probable won't be in a position to pay their loan for some reason, and merely won't elect you to understand. EDIT: Lisa is right...selection One is backside of the barrel of the subprime creditors, they're going to finance every physique...you won't like the linked fee they value, yet they're going to do it. Sorry sweetie, I nevertheless stick with the aid of my unique answer...i detect it unusual that in the time of the final 24 hours you "magically" got here up with a letter from OO that they admitted fault. Your mothers and dads of course had to have had horrendous credit to bypass with OO in the 1st place, and maximum folk of people do not do cord transfers b/c that expenses $50 in line with transaction to pay their charges...they the two pay online or pay with the aid of verify. in the experience that your mothers and dads can't get a checking account, then simply by fact of this they have bounced tests around that they have got never paid.. Your mothers and dads at the instant are not proposing you with the finished tale and prefer I stated earlier, I genuinely have never met a single guy or woman with any lender, alongside with selection one, that as quickly as you could practice appropriate charge, that still tried to foreclose....and that i've got been in this business enterprise for a protracted time.