4 months late on mortgage with no money to pay back how long more before they take me to court and i wanth to stay there as long as possible , wath should i do.
2007-06-21 23:52:55 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
unpaid for 3 months action will taken...in my country.
2007-06-21 23:57:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The bank will eventually foreclose ... so start packing. You really don't have options without having the money to catch up. The last thing you need is a loan to repay what you owe and then not be able to afford the repayment and continuing to pay the mortgage so bail out while you can. Had you worked on this issue three months ago, you would have had time to work on increasing income, reducing expenses, or something that could help you stay in the home. BUT... if you cannot afford the place plus the taxes, insurance, maintenance and other costs, you are living above your means. Bail out and move on. There is life after foreclosure and/or bankruptcy. Perhaps you will know the difference between wants and needs and be able to make better decisions on what you can afford versus what looks good on paper.
2007-06-22 07:08:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't think you'll be taken to court. Most States will just show up with a constable or a process server and, have the court papers already. You see, you signed an agreement when you bought so, it's all cut and dried now. They will tell you to grab what you can in thirty minutes, the rest will have to wait until they allow you back in the get your stuff, which may be sometime.
Then you'll be escorted to the street so, you'd better have what you need or, contact someone you know to start storing your stuff.
I served papers with a constable in Vegas, it's not nice but, it has to be done for dead-beats and people that fell back on their luck. The property owner just wants his property back, it's only fair, isn't it? it belongs to them, not you.
You may call them or contact them and hope they understand your condition and listen. They may. They may extend you the time needed if necessary, if you've taken care of the place and have not abused it, are decent about it, they may help you, try it.
2007-06-22 07:02:16 · answer #3 · answered by cowboydoc 7 · 1⤊ 0⤋
You won't make it to court. They are coming within the next month or so to claim that property, so like the others have stated, get your personal items into a storage unit and find an affordable apartment or someone to live with until you get back on your feet.
2007-06-22 16:34:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Might be a bit late, but contact the mortgage holder and see if you can work out deferred or lowered payments. They don't really want to go to the hassle of forcloser if they don't have too.
You should have contacted them the first time you were going to miss your payment. When you ignore it and don't make any effort it looks bad and then they aren't as willing to work with you.
2007-06-22 08:59:41 · answer #5 · answered by Anonymous · 1⤊ 0⤋
be saving and looking for someplace else
cuz the letter is coming
2007-06-22 06:56:04 · answer #6 · answered by riderchick 4 · 0⤊ 0⤋