Should I hire a company to assist me with helping me save my mortgage? I have missed three payments and have the 3000.00 dollars they willnot take my money until they reveiw my application for a "special program" this review will take another three months what will happen. Does my credit report show forclosure on it? Can I ever dispute the accuracy of this notation Help!!!!!!!!!!!! Where should I goto get help.
sirro, That is correct they willnot take the money that I owe until they have looked over what they call a worka out package. I willjust keep collecting my mortgage but I do not really trust them but do not know who to hire for help other than an attorney any suggestions?
Smells bad. Have you tried mailing them a check and have you received a refusal of acceptance in writing?
Are you in some kind of HUD program? All I can suggest is read your note and mortgage and all the paperwork that came with it. Also, find out your state's laws, like whether they have to have a judicial foreclosure in your state or not. This is what my cousin told me. In Ohio, if you get taken to court (which you eventually would) for something like this, all you would have to do is tell the judge that they refused to take your money and the judge would do something like an injunctive relief? This would force the mortgage co. to take your money and reinstate your loan. I don't know what laws this entails though or how much of it is true... You really do need to know your rights. Those collection people aren't going to tell you anything. I have went around with my own mortgage company, and let me tell you, they lie! Also, make sure that they have not made inquiries into your credit reports. Since this is a closed end transaction, they are not allowed (according to FTC opinion) to make inquiries into your credit reports.
Don't assume you'll get your day in court, in most states NON-judicial foreclosure IS the process. Go to google and search on "predatory lending" and foreclosure. IF your loan is covered under federal regulations and protections via HUD, you may find relief there: http://www.hud.gov/ You can request an accounting under the RESPA provisions, also through HUD with a sample letter: http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm Sassy
Thnaks for all the replies. Yes the mortgage company did lie. WHen I asked about a program to help me when I ws two payments behind, they told me about a program but said that I had to be three or more payments behind. What the failed to tell me is that they also start foreclosure the fore closure process. What asses. I will check my laws here in Wisconsin. One of the problems is that they said now that I do have the 3000.00 there are an additional 2000.00 in attorneys fees so I will have to sit back and wait until they call me. Are they trying to take my house?
Wisconsin foreclosure info: http://www.stopforeclosure.com/Wisconsin_Foreclosure_Law.htm Have you found anything out yet? I was thinking about this attorney fees of $2000.00. How in the world could the attorney fees be this high already? Maybe you could get a copy of the attorney bill and forward a copy to the state bar association of Wisconsin for unethical billing practices because that sounds hokey. This whole situation sounds like they are trying to screw you. Did you call hud? What did they say? I know that they do have many programs that will help you save your home. Let us know!
sirro I have not called hud . I try and call them. My balance was at 83,000 . Their attorney sent a demand for 85,950 for full paymnet. So I assume the attorney's that is handling the foreclosure for us bank is charging me 2950.00 already. The last time i talked to them they said that they were still looking over my paper worker and that the 3000.00 could not be given to them Backus now they had also attorneys's fees that I have to pay although the mortgage went into forclosure less than month. I told the representative that at this rate attorneys's fees will add up to over 5000. oo dollars by the time they "approve my loss mitigation Packet. They said it could take another two months and they would call me at home or work . But the attorney will continue. I feel like I am trapped to pay tons of attorney's fees . I am going to call hud hopefully they can help. Maybe they are just trying to by time because this does not feel like helping from the misinformation in the beginning to the wait until we get to you now.
victoryvic, Do not wait any longer. You must take care of this now. Here is the link for foreclosure information for HUD and there is a link to find the nearest HUD agency to you. Call them NOW!!!!!!!!!!!!!!
victoryvic, Do not wait any longer. You must take care of this now. Here is the link for foreclosure information for HUD and there is a link to find the nearest HUD agency to you. Call them NOW!!!!!!!!!!!!!! http://www.hud.gov/foreclosure/index.cfm
Not to change the topic here but someone mentioned closed end account, that the mortgage company could not pull your bureau. Whats the SOL for pursuing this violation? If I already sold the home, but just realized that they pulled my bureau twice while I was in foreclosure would I have any recourse? Sorry bout the change in topic SnakeMan
you have to start getting a paper trail, whatever the mortgage company tells you tell them you would like to get it in writing. especially the part where it will take 2-3 months to review your situation-why should you pay lawyers fees when it's taking that much time to review. read your mortgage papers about lawyers fees, does it say anything about how much they can charge. as far as payments, get a bank check and send again by CMRRR for the monthly payments so you have proof that you sent payments and they were returned. also, what is your home worth ? do you have any equity ? if you have a lot of equity, the mortgage company is not worried about getting their money but wants to give you a hard time and run up their fees.
in order to understand how the foreclosure process works, you must understand the difference between ownership and debt. think of a property as having two sides; one side named ownership, and the other named debt. the ownership side is the *title* side. the property owner holds title to the property and the mortgage represents the debt side of the property. if a homeowner stops paying the mortgage, the bank cannot sell the property because it does not own the title side; the homeowner does. the homeowner remains the owner of the property throughout the entire foreclosure process. the lender must initiate and complete the foreclosure process in order to gain title to the property. the foreclosure process will vary in each state depending on whether you are in a mortgage state or deed of trust state. most mortgage states use the judicial process, while most deed of trust states use the power of sale process. wisconsin is a mortgage state.
judicial foreclosure: the first step of the foreclosure process begins with the nonpayment of the mortgage/lien by the property owner. banks lienholders vary on the amount of time they will allow to pass before they begin the foreclosure process (read your mortgage docs). once foreclosue process starts: 1. a *lis pendens* (pending lawsuit) is filed on behalf of the bank/mortgage co. anyone who acquires an interest in the property is subject to the result of the litigation (this stops the homeowner from selling the property or doing a refi). the bank/mortgage co. is the party filing the lawsuit. 2. service of process (complaint, lis pendens, copy of instruments) is initiated on behalf of the bank/mortgage co. 3. defendents are the homeowners and anyone who holds interest in the property. the bank/mortgage co. hires a process server, whose job is to serve the defendants. 4. the defendents have 20 days (varies by state check with your couthouse) to answer the complaint. an answer is a response to the complaint filed by the defendants, which admits or denies the allegations contained in the complaint. if an answer is filed by the defendants, the judge will set a hearing date, at which time the defendants must defend the foreclosure. 5. if no answer is filed within the required time, the bank/mortgage co. may move for a default. this may accelerate the foreclosure process in that the bank/mortgage co. can move for a summary final judgment. 6. at the hearing on a motion for summary final judgment, if the court grants the motion, a summary final judgment is entered, and a sale date is set. the summary final judgment indicates the sale date and the judgment amount.
7. the property is sold for cash to the highest bidder on the sale date at the courthouse auction (a notice will be posted on your property when the sale date will occur). even, worst case, your house is sold at auction there is a redemption period (time after sale date and varies by state; again check with your courthouse) where the homeowner can *buy back* his own house. you have to decide whether you can make the payments on your house, if you can't maybe bankruptcy is the way to go. the mortgage co. should have sent you some kind of foreclosure package for you to look over to save your house (forbearance agreement, short sale, etc.). also, and this is your *ace in the hole*, bankruptcy stops foreclosure dead in its tracks. you can declare bankruptcy up to the day before your foreclosure hearing. bankruptcy will *buy* you at least two years of living in your house with no mortgage payments (assuming you get a good BANKRUPTCY attorney). you can use bankruptcy as leverage with the mortgage co.; tell them you want these obscene lawyer fees stopped until they finish their *review* and give you a proposal to save your house. if they ask you why, tell them your attorney advised you (lie if you have to) to declare bankruptcy and you can live for free for 2 years.
Re: Re: Need to know forclosure process If you were in foreclosure - they may have had a pp, depending on the terms of your contract. http://www.ftc.gov/os/statutes/fcra/gowen.htm Read the footnotes too.
