She has being trying to deal with the bank(GMAC) and they are just to hard to deal with on a repayment plan or loan rewriting. They already set a sale date to july 19th and still no positive responce even do she calls every other day, should we plan on moving or is there a way to stop the sale or forclosure? Please Help!
2007-06-26 07:53:46 · 7 answers · asked by I M 1 in Business & Finance ➔ Renting & Real Estate
Time to get looking for a new place to live, unless you can get the mortgage caught completly up and even that might be to late to save the deal.
2007-06-26 08:02:39 · answer #1 · answered by Anonymous · 3⤊ 0⤋
I went through this in Missouri. My mother died, and the loan was still in her name. A creditor put a lien on the loan, ($4213.97) and the mortgage company said I had to pay the lien or they would sell the house. (The lien works just like a delinquent mortgage).
I contacted the law firm that sent me the letter which by the way had a sell date of 5/21. They instructed me how much I had to pay the mortgage company, and how much I had to pay them.
I was able to pull a hardship on my 401k to come up with the money. Have her check that out is she has one.
Also, she should have been getting tons of mail from lawyers telling her they can stop the foreclosure of her home. They are bankrupty lawyers. That would probably be a final recourse, but it can stop the foreclosure. (Chapter 13), where they will put the arrears in the plan, but keep in mind you can NEVER get behind again until your Chapter 13 is dismissed.
Hope this helps.
2007-06-26 08:31:34 · answer #2 · answered by niceclt 1 · 0⤊ 0⤋
If the sale date is set for 7/19 it is too late to set up a repayment plan and they're certainly not going to be willing to refi the loan when she defaulted.
This is a bit like crying over spilt milk. The time to deal with the lender was before the delinquency got this out of hand.
Plan on moving.
2007-06-26 08:01:03 · answer #3 · answered by mazziatplay 5 · 0⤊ 0⤋
If you are not getting any response at this time frame, consider that they are not going to work with her and that she will be in foreclosure. They're NOT going to rewrite a loan if she didn't handle the FIRST one properly.
It's GMAC's call whether or not they want to work with a repayment plan. If they did want to do that, methinks you would have heard by now.
2007-06-26 07:57:23 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
Have your girlfriend contact the mortgage company or law firm that is handling the foreclosure , they will let her know how much time you will have after the sale before you have to move.
2007-06-26 08:08:35 · answer #5 · answered by Angela C 6 · 0⤊ 1⤋
she might want to check to see if acorn could help her, they are a nonprofit agency, and they help with forclosure and first time homebuyers, their phone number is 1 866 67-acorn, and their web site is www.acorn.org. I hope this helps.
2007-06-26 09:38:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I'm sorry to hear that GMAC is not responding. They are the ones who are missing out on making money here, not you in losing your home.
Please remember that............
2007-06-26 08:11:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋