We fell behind back in September we have been paying a repayment plan and have two mo. left in this plan. anyways the due date each mo is the 21st we won't be able to the pay till the 28th.They said this was fine but I am worried Can they will they forclose for being half a mo. late
2007-12-11 03:12:15 · 6 answers · asked by what did you say 4 in Business & Finance ➔ Renting & Real Estate
No, not for such a short time, it takes quite a while to foreclose. In most states, you need to either be sixty or ninety days past due. Seven days isn't enough, but I would phone them ahead of time. You might get some grief and you must be sure to keep any promises you make, but I would let them know so they won't phone you or start any other action.
2007-12-11 03:20:46 · answer #1 · answered by OPM 7 · 0⤊ 0⤋
No one on this forum can really say what your lender will do if you don't make that payment on time. Let your lender know that you cannot make the payment until the 28th. If you are making a good faith effort to reinstate your mortgage to the original terms, they should work with you until you do not do what you said you would. If you leave them in the dark, they may just assume that you are defaulting on the repayment agreement. If you are upfront with them, they will appreciate that and THEY can answer your questions as to whether or not there are going to be any consequence for the lateness.
Typically, you can stop a foreclosure at any time prior to the sale in a foreclosure and it takes a long time to get to that point.
So, stay calm, call your lender and stick to your commitment to make the payment on the 28th if they agree to that. I am sure they would rather wait a week than take someones house back, but that is only a gut feeling.
Good luck.
2007-12-13 03:14:15 · answer #2 · answered by Dale H 4 · 0⤊ 0⤋
So your ultimate your guy or woman loan on the twenty seventh of this month, and paying out on the 2d of Oct. - in case you pay your fee possibility is your guy or woman loan pay-off accumulated at ultimate won't mirror that fee. this is as much as you techniques you like to guard it and in case you have the extra $4600.00 to pay. The lender being paid off could refund you the $4600.00, even with the incontrovertible fact that it would desire to take particularly a jointly as to get it back, each so often 6 - 8 weeks. If it is the sole undertaking your paying previous due, i do no longer think of this is going to harm you and could be defined if had to sparkling up any credit question. touch the financial enterprise your paying off and notice what they say approximately this. in the event that they're being paid off they'd no report a prior due fee. good success
2016-12-10 19:41:01 · answer #3 · answered by holguin 4 · 0⤊ 0⤋
No, they won't foreclose on you for this. The absolute worst thing that could happen, and it sounds like it won't, is that your file might be dinged for the late payment. Not to worry. It is a long, expensive process for them to evict you and a late payment will NOT cause that to happen, particularly since you are now current.
Happy Holidays!
2007-12-11 03:15:44 · answer #4 · answered by jwishz 7 · 0⤊ 0⤋
90 days behind is the typical time frame for foreclosure proceeding to begin. If you are already in contact with them and have set up a payment plan to catch up, you will be fine.
2007-12-11 03:27:07 · answer #5 · answered by flamingojohn 4 · 0⤊ 0⤋
Dont worry they will not for something so small-Relax
2007-12-12 05:32:53 · answer #6 · answered by mbaskin22 4 · 0⤊ 0⤋