I got behind on my payments and was working with a foreclosure specialist company that said they had a handle on everything...yesterday I find out nothing as been done and know I have to be out of my house in 30 days. Is there anything else I can do? The lender says it is to late and won't work with me even though I explain what happened.
Can anyone suggest advice?
2007-10-22 09:05:01 · 7 answers · asked by mjanet80 1 in Business & Finance ➔ Renting & Real Estate
That's the danger of trusting someone other than yourself to find a solution to foreclosure. Hopefully the situation can be salvaged, though.
It's not surprising the lender won't work with you now with less than 30 days left. Especially if it is after the sheriff sale, you may have very few options left to save the home. But if you do have some time before the sale date, you can try finding some other solution.
The first step will be finding some way to postpone the sheriff sale. If you can't do that, there's no real chance of saving the home. Even filing bankruptcy just to get some extra time might be worthwhile, although you should speak with an attorney about how that would work.
Also, find a company that can provide various solutions to help you, either through refinancing if you have equity, loss mitigation if you have savings and can afford a higher payment, or private investing if you want to keep the home but won't qualify for anything else. But you need to be involved in the process this time -- don't trust anyone else to help you save your home.
And find several sources of help. Don't just rely on one company to help you, as they may not be able to get the deal done in time. You need backup plans just in case, so do some research on various options you might have.
Just plan, plan, plan. And take an active role. That'll help you more than anything.
2007-10-26 03:07:09 · answer #1 · answered by Nick 1 · 0⤊ 0⤋
If the house is still in your name, then bankruptcy will delay the process. Also, you can fight the foreclosure depending on where in the process you are at this point. Contact an attorney now and get some help. 30 days is not a long time so every day counts. If the house is in the banks name, then just get ready to move. At some point a court order will hit your door and you may only have hours or days to vacate depending on where you live. Sorry about your situation and good luck
2007-10-22 10:52:28 · answer #2 · answered by proactiveindy 2 · 0⤊ 0⤋
I would assume, from the information provided, that the house is already titled to the lender. That being the case, there is NOTHING you can do but leave. You might check your state laws concerning redemption periods after the sheriff's sale has occurred. Some states have redemption periods of a few weeks to a few months. However, in order to redeem, you will have to cough up all the cash owed before the period expires, and this will include the horrid foreclosure costs incurred by the lender.
2007-10-22 09:12:27 · answer #3 · answered by acermill 7 · 1⤊ 0⤋
Finally a query in my wheel apartment. REO or Real Estate Owned by means of the Bank isn't a well funding. The reality is that banks don't seem to be dull. You cannot simply stroll into the financial institution and ask them for a record in their foreclosure. Although banks don't seem to be within the truly property industry they are not going to permit their backside line get surely destroyed by means of quite simply giving those residences away. Banks will constantly rent a realtor and try to get retail for the estate, which most of the time they'll get lovely virtually by and large. When making an investment in foreclosures the excellent solution to do it's to get a record of men and women who're in preforeclosure or whose estate goes up for sheriff sale (in Pennsylvania). Once you have got this record you must get in touch with the landlord and ask their permission to visit the financial institution and talk on their behalf. It is right here wherein you're ready to get very well offers on properties. You will then cross and negotiate the fee with the financial institution. Once you succeed in an contract with the financial institution there are then many go out ideas you'll comply with. You can fast turn the apartment by means of assigning or wholesaling the agreement to a further investor. Or you'll do all of the rehab and fix paintings youself and hire it out for a per month coins waft. So whilst handling foreclosure don't look ahead to the financial institution to take manage of the estate, you must get to the present occupants and that's wherein the truly gains and a laugh starts.
2016-09-05 20:02:16 · answer #4 · answered by ? 4 · 0⤊ 0⤋
You need to get a lawyer and POD unit NOW to store your things in. I'm sorry you found out the hard way that these so called foreclosure helpers are not any good. I hope you didn't pay them anything or sign papers. If so you really really need a lawyer.
Also find a rental property and get into before this foreclosure goes on your record. Use a real estate broker for this also. If you are in FL I can' recomend a good broker for you.
2007-10-22 09:10:57 · answer #5 · answered by dizzygrltoo 3 · 0⤊ 0⤋
Call an Attorney!
In Texas you can file Bankruptcy and buy you some time to come up with the money to pay your house payments current.
A BK is only a temporary fix, not a solution, so don't do it unless you feel that you can come up with the back payments or sell it before the BK is discharged.
Good Luck
2007-10-22 09:16:09 · answer #6 · answered by hvholli 2 · 1⤊ 0⤋
Please try and sell your home. Last year I had two mortgage payments on a condo I purchased. After 1 1/2 years, I couldn't make any payments and was behind a full two montths and no way to makie any payments. I went to a realtor and was able to sell, all moneys were paid and I was able to bank a nice amount.
2007-10-22 09:22:44 · answer #7 · answered by dmarie 1 · 0⤊ 2⤋