Anyone with experience in this field. My husband lost his job today and we faced foreclosure almost 2 years ago. We have a first and a second with equity of about 15,000. We are going to list our house for sale, not make th payments, we can't afford to pay them and hav any money to live on. We have about $7,000 on hand, payments come to 2300, so no paying the mtg. Should the house sell quickly and we not make the payment, does it go directly into foreclosure after a 30 day late, or does it make the same cycle of before where we went 3 months? We are just sick and heartbroken that we hav been foiled once again.
You should have some time. Contact your mortgage company, and explain your situation, they will probably work with you while you are selling it. They REALLY don't want the house back. Sorry to hear of your troubles. It seems we take two steps forward and one back ourselves. Good luck!
What's the prospect of your husband getting another job, even if not of the same caliber? Any money is better than no money. What are you going to do when you sell the house? I would not dispair just yet, but that's just me.
You have more then the 30 days...more like 60 to 90 before they get the paperwork rolling...I would like to see you call the mortgage company and explain everythign in detail and then put the home on the market.........looking ahead to your future, that simple call could mean the difference between showing lates on your mortgage and having a clear report.
