From Mortgage Default to Right of Redemption

Comments (85)

People that are entering foreclosure these days purchased properties at twice or three times their realistic value on 100% financing. That is the primary reason they don’t make an effort to prevent the foreclosure process. Another innovative scheme being perpetrated today is that some of those properties are sold to family members of the person allowing the foreclosure to take place under a short sale clause which means the original owner can purchased that property at a later time perhaps under a second short sale. Here we go again.

Above Posted By: JMG | Tue, 15 Apr 2008 12:39:59 EST

Sysan Hoyt asks: Can I purchase my property after it has been foreclosed? Ummm.. how will you pay for it? After the foreclosure, no bank is going to loan you any money anymore and if you have cash on hand, why didnt you use it to stop the foreclosure in the first place?

Above Posted By: MtgProf | Tue, 15 Apr 2008 08:31:44 EST

RE: Jose's comment of March 27, 2008 You should consult your state's law as to the time frame for the "Right of Redemption" and I'd suggest you obtain an attorney once you know the time frame and if you are within that legal time & you want your home back. Good luck.

Above Posted By: Anonymous | Mon, 7 Apr 2008 19:33:09 EST

We are in defalut on a property in Las Vegas,we have received the notification of auction for April 17. After the auction can the bank come after us for the remaining balance on the mortgages? Do we have to be looking over our shoulders for the next five to seven years?

Above Posted By: Susan Hoyt | Sun, 6 Apr 2008 21:25:51 EST

Can I purchase my property after it has been foreclused

Above Posted By: Jose | Thu, 27 Mar 2008 23:56:13 EST

I am in the process of buying a second home. When this happens I will be renting out my current home. My concern is I am depending on the renter to be able to pay for most of the monthly payment on first house and if I lose my renter I won't be able to keep up with the payments on the house. I live in California and I know the laws are different for forclosures. If the house did forclose, besides taking the house and ruining my credit, what could the mortgage company do to me?

Above Posted By: Anonymous | Wed, 19 Mar 2008 09:54:10 EST

Can a SECOND mortgage holder foreclose on a property if your First mortgage is up to date in the state of Pennsylvania? I have read different things, and I am confused. Our bank representative was quite rude and did not want to work with us, and I have been unable to get into a consumer credit counselor for the ACT 91 Notice on the second mortgage, as they are swamped from all of the current foreclosures, and now foreclosure of the 2nd Mortgage is impending... Does anyone have any advice?

Above Posted By: Ann-Marie | Wed, 12 Mar 2008 06:50:08 EST

if house is foreclosed on what will you owe in the end even if you owen nothing, what can the bank do, hold tax checks or garsish wages???

Above Posted By: bryan | Sat, 8 Mar 2008 14:02:40 EST

if house goes in to foreclosure and i have a first and second mortgage on my house and at the auction if they don't get enough money to pay both mortgages off do they come after me for the money or what happens would my best bet to be to file bankruptcy on my house my credit score is in the 700's how long will my credit be messed up for can i fix my credit faster

Above Posted By: gina | Sat, 26 Jan 2008 12:15:35 EST

I bought a home in a forclosure sale but the previous owner had renters, by law how many days do I have to let them stay so that I can evict them and not get sued?

Above Posted By: omar | Mon, 14 Jan 2008 17:14:07 EST

What financial responsibility is there after you foreclose on a home? Can the lender come after you for any fees or anything relating to the foreclosed home? Would filing Chapter 7 make any difference other than having a foreclosure on my credit? I am located in MA...

Above Posted By: Heather | Fri, 28 Dec 2007 20:04:54 EST

well, I am looking at "letting my house go" between 1st 2nd and now atty leins. I owe more than a sherrif's sale would get. I actually tried to do an auction for cheap, but circumstances wouldn't get me a sale. Will I later be sued bvy atty, 1st and second mtg, for balance?

Above Posted By: dan | Tue, 11 Dec 2007 15:39:32 EST

The bank has forclosed on our home. The bank sent a letter saying to be out of the house by a certain date. but this was a letter not a court order, or a judgement made by a court. Don't they have to send us a court ordered notice to vacate the home?

Above Posted By: anonymous | Sat, 1 Dec 2007 20:04:45 EST

Due to an ARM my husband and I are facing foreclosure. We are in an upside down situation. We owe $20,000 more than our property aprasises for. Are there any lenders who are willing to refinance in such circumastances? Our credit is good now but not for long. We are victims of a greedy loan officer who went to all odds to get a phony appraisal for our original loan. I am praying for him.

Above Posted By: Anonymous | Mon, 15 Oct 2007 17:18:00 EST

I'm losing my home to foreclosure. Date has been set for sale. How long do I have before I get an eviction notice and how long can I stay in my home. I'm looking for a new place to live but having difficulty due to pets. Thank you for your response.

Above Posted By: So. Cal. | Mon, 10 Sep 2007 10:08:12 EST

Bought a tax forclosure property in Houston-harris county Texas. How long do I allow the ex-lien holder for a right of redemtion? Or is there a right of redemption after the foreclosure sale in Texas?

Above Posted By: A. Flores | Sun, 2 Sep 2007 11:57:47 EST

We bought a house in Las Vegas a year ago and my husband was relocated to Oregon. We are trying to rent it because there is no way it will sell for what we bought it for. But we're even having trouble renting it. We originally got roped in by a predatory lender with promises to refinance- which we can't do. We're not in the house, what are the foreclosure procedures and ramifications?

Above Posted By: Peggy | Thu, 23 Aug 2007 13:18:10 EST

I now realize that I can't continue to make my mortgage payments on my primary residence and I'm ready to let it go. Am I liable for any fees (ie. attorneys, court) even if I just say take the thing? Will my credit rating be crappy for no longer than 7 years? I live in California.

Above Posted By: anonymous | Sun, 12 Aug 2007 01:33:28 EST

I purchased a 2nd home thinking my first home would sell. It didn't. Now, almost 2 years later I am paying 2 mortgages, 2 insurances, etc. etc. I am running out of money and need to dump 1 home. I have both homes up for sale, cheap and no interest in either. Both are upscale homes above $400000 which I know limits the number of buyers in that price range. do you I have to wait until I run out of money before I can survive?

Above Posted By: Jon | Fri, 27 Jul 2007 05:02:27 EST

Our home has been forclosed on,and for every person out there facing forclosure, my sincere thoughts and heart go out to each one of you. Forclosure,is one of the most stressful situations to face. A person's well-being and direct health are effected by such. If I can be a messanger from example, advice I give-read carefully your contracts, ask for everything in writting, don't let intimidation and fear take away your rights. You have rights (stay in your home) educate yourself and NEVER LOSE HOPE.

Above Posted By: anonymous | Wed, 18 Jul 2007 01:26:10 EST

I Filed Chapter 7 and my home was in w/ the filing....this was last year...I would like to buy another house...now that I am older..what can I do? Now considering that I foreclosed on my home

Above Posted By: REnee | Tue, 17 Jul 2007 14:11:16 EST

My home has been up for sale for 5 months in AZ. I am now 1 month behind in payments on my first and second mortgage. At the current asking price, the first mortgage would receive payment in full but the second would take a hit. If this goes to foreclosure, what tax implications are there? Also, can these companies legally garnish wages? How do you get the phone calls to end since they are calling me at work 4-5 times a day?

Above Posted By: Patricia | Wed, 4 Jul 2007 13:16:53 EST

If a home is sold in public auction do the occupants need to remove their belonging on the day of the auction? Can they remove their belongings? Does anyone know the laws on this?

Above Posted By: Jen | Thu, 21 Jun 2007 19:00:53 EST

A property in Iowa is set to go to a Sheriff's auction on July 6th. It has a first and second mortgage on it. If the current owner goes to the sale and bids what is owed on the first mortgage amount, as that is the one who is foreclosing, what happens to the second mortgage? Is the owner still responsible for the second mortgage? It is my understanding that the owner can bid what is owed and no one can bid above that but what about the 2nd mortgage amount?

Above Posted By: Kim | Sat, 9 Jun 2007 06:30:12 EST

Lorena, you have about 180 days from the time the lis pendens is filed in Florida. But that time goes by fast so dont wait around. The longer you wait the less options you will have. If you decide to sell the house find someone who does short sales and they will purchase your house from you.

Above Posted By: Larry | Fri, 25 May 2007 13:01:54 EST

I was forclosed on April 2007. And many, many, more will be foreclosed due to unforeseen circunstances. What I want to know is WHO, WHAT, WHERE, WHEN, can we go to too help us in this devestation. What is there after foreclosure? Where you have left you blood, sweat, and tears in your home!! Foreclosure to me in known as DOOMS DAY!!!! A transit on the street is better of than I am. I will never have good credit again, no one will touch my application for credit!!! I need help!!!!!

Above Posted By: Lorena | Thu, 10 May 2007 15:45:17 EST

I just received a (certificate of mailing) letter on the 2nd day of April to an old mailing address that was just forwarded to me: it states that - I have 30 days from the date of this notice to cure the default. Thereafter, Foreclosure Action Will Begin. At this point I am 30 days behind in the regular calendar period! I believe this must be an error! How long do Florida residents have before a mortgage company can put you on foreclosure status?

Above Posted By: FL resident | Sat, 28 Apr 2007 19:05:48 EST

What if I realize that due to the large tax payments I can no longer afford my home and I would like to just give it up and start over in a few years? How long will it be before I can buy again? If the house is not sold for the amount that is owed can they attach my paycheck.

Above Posted By: Bubba | Thu, 19 Apr 2007 17:18:02 EST

My house will be foreclosed on any day. I also have a second and the house is in my husbands name and mine but we are seperated what will happen and how long will it take. I want to move to Texas and I have given up I cant afford the payments what action will they take and how will it affect my husbands work and credit is there something that can be done so he is not involved in this process. I just want it all to end and move on.

Above Posted By: TINA | Tue, 17 Apr 2007 11:19:03 EST

I would like to know what happens after a house is not sold at the auction. If nobody wants it because the loans are too high. What happens next?

Above Posted By: Galina | Thu, 12 Apr 2007 07:10:05 EST

Hello, I live in So. Calif. and my house was sold at public action on Feb. 15, 2007. Does Calif. have a redepmtion period where I could try and get my house back. If so how long is the redpemtion period and how would I start the process? I feel like such a loser, losing my house. Thank you for your time.

Above Posted By: Linda | Mon, 9 Apr 2007 11:06:17 EST

Ameriquest - Yes, we got behind due to serious and at times life-threatening family problems, Then the devastating flood, AMC, kept all the funds, although we did not owe them that much! Now, TODAY, with any and all efforts to stop them, make arrangements, etc., AND their promise to our Congressmans office that auction would be put off indefinitely - the Boston paper listed the auction for TODAY. This will destroy our already embattled family. HOW CAN THESE PREDATORS BE STOPPED?

Above Posted By: Paul and Gloria Gauthier | Mon, 9 Apr 2007 07:43:37 EST

No phone call from either company was heard or message left. Even though both had every number I have. It was not until I recieved a certified letter that I became aware of the situation and immediately sent them a check for 50% of the total. The next mortgage payment will completely put us up to date. My credit score can be hurt for up to seven years because someone decided to sell/buy my mortgage my payments were on time but just going to the wrong lender. What should I do? I had great credit!

Above Posted By: Christian | Thu, 1 Mar 2007 16:48:34 EST

Our mortgage was bought by Well Fargo without us knowing it. I kept sending my payments to the original lender Evermore in which they forwarded them on to Wells Fargo twice. The next two payment I sent were returned to me. Wells Fargo sent me info regarding the matter in which I never opened thinking it was solicitation which often comes when you just refinanced within the last 6 months.

Above Posted By: Christian | Thu, 1 Mar 2007 16:42:57 EST

I just bought my first foreclosure from a bank at the sheriff's sale yesterday, in Arkansas. I wired the cash to the bank as advised by the trustee. I should recieve the deed in a week or so. The prior owners promise to be out in 3 weeks. They are expecting an eviction notice to back that up. I intend to remodel the home and flip it. I would like to know what steps you would recommend I take at this time as the new owner to protect myself such as, insurance, eviction, incorporation etc.

Above Posted By: Anonymous | Tue, 13 Feb 2007 14:52:32 EST

question: My husband and I are about to buy a home that was foreclosed and the bank is selling. It needs LOTS of repairs, but we were just told about the redemption period which is 1 year in Alabama. If we do any remodeling to the house, (updating bathrooms, kitchen, removing walls,..) besides what work needs to be done to live in the house, will the previous owner, if he wants to redeem the house,be required to pay for purchase price plus all improvements, or only needed improvements?

Above Posted By: Jennifer | Sat, 27 Jan 2007 12:04:44 EST

what is the right of redemption on real property in florida. can these rights be transfered? do they apply to unpaid property tax sales or application for tax deed sales? how do they apply to forclosures? where can I find the laws pertaining rights of redemption in florida?

Above Posted By: tom | Wed, 20 Dec 2006 20:47:52 EST

I had a VA loan that foreclosed in NY, and my question is if the house does not sell for what is owed will I be liable for the remainder, also will my income tax return be effected? Thank you for your help.

Above Posted By: Jim | Sat, 2 Dec 2006 15:55:43 EST

We lost our home to foreclosure on August 1, 2006. Our home was sold by Wells Fargo Mortgage to the Federal Home Loan Mortgage Corporation. This happened even as we were in our (recertified) bankruptcy before the Federal Bankruptcy Court in Houston, Texas. Our plan was confirmed by the Bankruptcy Trustee but unbeknown to him, the Court or us our attorney of record had failed to file the necessary documents to prevent foreclosure. He filed them one day too late to avoid the sale of our home.

Above Posted By: John H. Perry | Fri, 6 Oct 2006 12:23:58 EST

My son's home went into foreclosure. From public info several gentlemen came to his door offering rescue plans. He accepted an offer. His home is now theirs. It was stolen. These people have bogus business names, addresses, and I have found many properties within Sacramento Cty, CA where they are gifting property back and forth between these businesses. They tried eviction and the court ruled in my sons favor even so they've gone into the home & threw my son's things into a dumpster.

Above Posted By: Roberta | Thu, 5 Oct 2006 10:36:36 EST

I buy foleclosed homes at auction and please let me tell all of you who are going into this process.. SELL SELL SELL get rid of your house while you can even if you get no equity just get rid of it and find people in your state that will buy your house... If you have enough equity see if you can refi even though it might be a high intrest rate its a short solver then you buy more time to sell you home... LOOK FOR INVESTORS in your are to buy your Home.... CHEERS

Above Posted By: Ross | Tue, 26 Sep 2006 09:39:33 EST

There is property next to mine that has gone into foreclosure. The forclosure has been advertised in the local paper with MY ADDRESS listed as the property forclosure and everything else is listed with the other owners information. I am not happy about this. Is there anything legally I can do?

Above Posted By: Anonymous | Wed, 20 Sep 2006 18:05:43 EST

My home was sold in the Sherrif's sale. I'm guessing I've lost all equity? Do I have any options? Is there any way to recoup my equity?

Above Posted By: Anonymous | Thu, 7 Sep 2006 11:43:10 EST

I am also about to have my home foreclosed on, and I guess my question is..when my home is sold and after the lender gets there money what happens to the remaining money if there is some left? Do I get this money? I live in the state of Texas, does anyone know of a chat room on this topic?

Above Posted By: Jessica | Thu, 10 Aug 2006 00:18:57 EST

My house just got forclosed and I was wondering if down the road if there are going to come after me for more money such as expences for forecloser fees or if the house will sell for less than what you bought it for.

Above Posted By: John Lund | Sun, 23 Jul 2006 13:30:50 EST

Our house was just sold via Sherriff's auction and I would really like to understand what our options are to get our house back during Redemption period. Are there agencies to help us? The company Steve worked at for 19 years recently liquidated so he is unemployed but will receive unemployment compensation in August.

Above Posted By: Cathie | Sun, 9 Jul 2006 13:16:06 EST

I am trying to find a live chat room with the topic of forclosure home sale Reversal in Georgia. I need some quick solutions to this problem. will liagation stop the eviction process?

Above Posted By: Sioux | Wed, 21 Jun 2006 00:53:53 EST

I sent in two payments I was behind on. They kept my payments, cashed the check and then foreclosed and demanded attorney fees. The foreclosure was filed after they received my payments. Is this legal? Should they have not sent my payments back and then foreclosed. They are demanding another $6,000 in attoney fees to bring my loan current. This does not seem right. Is it illegal to take your payments and then foreclose.

Above Posted By: jim | Wed, 14 Jun 2006 18:27:53 EST

My home is in foreclosure. Are there investors who will buy my home and rent it to me so that I can stay in my home?

Above Posted By: anonymous | Wed, 14 Jun 2006 08:45:30 EST

Does an heir have any rights regarding a home that was forclosed on by the VA. Right to redeem? Right to excess proceeds from the sale? Who would we contact regarding these questions?

Above Posted By: Michele | Wed, 7 Jun 2006 12:50:30 EST

I have been renting a room in someones house and I was told yesterday that the house was in forclosure and I had to be out by tommorrow. Is this legal? Is there anything I can legally do to be able to stay here for the rest of the month or until I have a chance to find a place. I live in Georgia.

Above Posted By: Connie | Sun, 14 May 2006 22:06:14 EST

I would also like to know more about the Right of Redemption in Idaho. I heard it might only apply to tax lien foreclosures. Frankly, it confuses me. info?

Above Posted By: Dawn | Wed, 10 May 2006 16:29:03 EST

There was a sherriff sale of my house. What I want to know is if I get it current from the back pay that I owe to the bank, do I still get to keep the house or not?

Above Posted By: chris | Tue, 9 May 2006 22:20:38 EST

We are no longer able to hold on to our home. I found private real estate investers who are going to try to buy my house from the bank for the true market value which is far less than what is owed. What are the chances that a bank will accept such offers? They would probably be losing around 40 - 50 thousand off the existing mortgage. Other question is once a house is foreclosed on how long before you receive an eviction notice? How long after that do they give you to move, 1 or 30 days?

Above Posted By: Anonymous | Sun, 7 May 2006 09:43:22 EST

During the right of redemption period, are you allowed to keep living in the home? How do interest only mortgages work? When you refinance can you add a new person to the loan?

Above Posted By: Ray | Tue, 25 Apr 2006 13:16:49 EST

I am in the redemption period of forclosure and I would like to stay in my home. Is there any way I could find help?

Above Posted By: angela | Tue, 11 Apr 2006 03:57:27 EST

What financial responsibility is there after you foreclose on a home? Can the lender come after you for any fees or anything relating to the foreclosed home? Reason being I have a lawyer on my back telling me to file Chapter 7 Bankruptcy. Would filing Chapter 7 make any difference other than having a foreclosure on my credit? We live in the State of Texas.

Above Posted By: CKBROWN | Mon, 3 Apr 2006 14:04:33 EST

My home was sold yestarday in a forclosure sale. Is there anything at this point to try and save my home. I live in the state of Maryland. Are ther agencies who will help me after the fact?

Above Posted By: dee | Fri, 24 Mar 2006 12:43:51 EST

The original definition of acceleration clause has been skewed over the last 30 years. The true definition is as follows: "Provision, normally present in an INDENTURE agreement, mortgage, or other contract, that the unpaid balance is to become due and payable if specified events of default should occur. Such events include failure to meet interest, principal, or sinking fund payments, insolvency, and nonpayment of taxes on mortgaged property." Brent

Above Posted By: Brent | Thu, 23 Mar 2006 03:59:27 EST

I just filed a chapter 7 bankruptcy and my house was listed. I have tried to reverse the 7 to a 13 to keep the house but my attorney has been unsuccessful. As of right now, there is to be a sherriff's sale at my house on monday Which is just over 24 hours away. Is there anything I can do to stop this from happening? If so please e-mail me with any adivce you could give.

Above Posted By: scott | Sun, 5 Mar 2006 00:56:24 EST

Can a county sheriff sell off a foreclosed home without the bank's knowledge?? Please help i need to know soon!!

Above Posted By: lll | Wed, 1 Mar 2006 19:52:23 EST

After a homeowner is foreclosed on, what financial liability, if any, does the foreclosed homeowner has to the foreclosed property. Can the lender submit to have a foreclosed owner pay any fees concerning the foreclosed property.

Above Posted By: Arthur | Sat, 4 Feb 2006 13:59:27 EST

Here in florida there is no right of redemption. The only way to save your house is to contest the sale within 10 days after the courthouse steps. Another words you have to find something wrong with the foreclosure process - they did not serve you properly.

Above Posted By: Todd Hutcheson (FL) | Sat, 4 Feb 2006 10:24:40 EST

I lost my home to foreclosure and it was sold at a sherriffs sale. I received a 1099-A stating that the fair market value was $6000 more than the debt owed on the home. Am I owed money?

Above Posted By: Tee | Wed, 18 Jan 2006 09:46:58 EST

We now have the sheriff deed to a property from a tax sale. We want the prev owner to sign the right of redemption over to us tied to a rental agreement and if the rental agreement is defaulted we would turn the document over to the county and take full possession of the property. What doc do we need the prev owner to sign to give up his right of redemption in the State of Texas? Heard the QuitClaim Deed is not applicable for real property in the State of Texas.

Above Posted By: Russell | Sun, 15 Jan 2006 21:24:24 EST

We have an interesting case. Flip from everyone else that has posted on the board. This is all in the state of Texas. We purchased a property from a tax sale and this included the real property (a home) and it is not homesteaded according to the tax records. Can a home still be in homesteaded if it is not filed with the tax office? This affects the Right of Redemption period (6 months if not homesteaded).

Above Posted By: Russell | Mon, 2 Jan 2006 00:52:28 EST

We recently had a purchase agreement to sell our home. We then moved out of town and began renting. The closing fell through and we are stuck with the house. There is no way we can make our mortage payment plus our rent, and there is no option to move back into the home. What can we do? Can we turn the house back to the bank without our credit suffering long term? Thank you for your advice in advance.

Above Posted By: Greg | Tue, 27 Dec 2005 21:53:22 EST

Dear sir, My house has been forclosed and sold on dec 15th. I was told of the redemptoin law in alabama. I was approached my a person who rents houses out to by my selling rights. And he would then rent me the house to buy me sometime to find a place. Can i go to a lender and try to get them to buy my rights and maybe sell me my house back by financing me?

Above Posted By: Anna | Sun, 25 Dec 2005 23:58:03 EST

My home was forclosed on Nov 30th and we have to be out tomorrow ,do we have any rights? I was in a really bad accident and am now disabled, I have two small children and we do not want to completely loose our home. Is there a way to save it?

Above Posted By: erin | Fri, 16 Dec 2005 14:05:22 EST

We are currently 3 months behind on our mortgage payments, we haven't received a foreclosure notice yet, we have talked to the banks and told them our situation. If we received a foreclosure notice, do we still have the right to pay back what is owed? and stop the proceeding. Do we have a grace period or anything of the sort if we receive this foreclosure letter?

Above Posted By: anonymous | Wed, 14 Dec 2005 22:19:54 EST

I have lost my home due to foreclosure. It has been sold, but now i am receving letter from companies telling me that i can receive the equity from the sale. They offer to get the money for me for fee of 25 - 30 percent of what is in trust. I have never heard of anything like this.

Above Posted By: joy | Fri, 9 Dec 2005 08:01:32 EST

I am the holder of a second mortgage of a property that I recently sold. The buyer has not made payment of this mortgage to me in 30 days. Should contacting a lawyer be my best option to collect these funds?

Above Posted By: Anonymous | Thu, 1 Dec 2005 08:03:51 EST

After the sherrifs sale if the house has 2 names on it can one person sign off to another to redeem it or do both have to sign in minnesota

Above Posted By: anonymouse | Wed, 30 Nov 2005 18:40:28 EST

i have 23 days to redeem my house but i am in process of a divorce that is not done and she wont sign off. is there any legal way to redeem it with her name not on it. i cannot but i have a source that can. i am in miniesota

Above Posted By: anonymouse | Wed, 30 Nov 2005 18:38:13 EST

My home has just gone through a sherriff sale just before a private sale could materialize. What options are available to me to enable me to redeem my home? I'm a divorced Mom with two kids. We really love our home and would do whatever it takes to stay in our home. Please help.

Above Posted By: Hope | Fri, 11 Nov 2005 21:42:49 EST

Hello, We are in the process of foreclosure due to 3 months of nonpay on the mortgage. We filed for bankruptcy as we were told it was the only option. Our lawyer lied. We now would like to settle but the lawyer will not return the calls. By law we are told they must try and settle. What do we do?

Above Posted By: Foreclosure | Thu, 3 Nov 2005 17:44:05 EST

My house was sold yesterday - foreclosed. I just heard I have a 'Right of Redemption' period. How do I go about exercising this right and what is the process in the State of Idaho. Also, who would write a loan to refinance the existing one???

Above Posted By: Anonymous | Tue, 25 Oct 2005 12:09:56 EST

My house is in the forclosure process if I can't get the house back what happens do they take what is in the bank like my paychecks? or can they take anything else from me besides the house? I am trying to rectify this but I don't know if it is posible.

Above Posted By: Anonymous | Wed, 21 Sep 2005 11:15:44 EST

Two ways out of foreclosure are to either sell the home or refinance your existing loan. If you plan on selling the home have the realtor call the lender to explain the situation most times the lender will suspend payments and not report any further lates to your credit.

Refinancing the loan to an interest only payment can help lower your monthly payments. Look for one of the 1% 30 or 40 year loans that give you 4 payment options. 1. Deferred Interest 2. Interest Only 3. 15 Year Fixed 4. 30 Year Fixed.

Above Posted By: Ed | Sun, 18 Sep 2005 00:19:10 EST

There are solutions out there, but it can take some digging. I know a new organization...Loans For Women, Inc., which contributes a portion of their profits to The Circle of Sisterhood, who seem to be really wanting to help women stay out of debt...they are in CA..go to the site:www.circleofsisterhood.com and ask them for their number...good luck

Above Posted By: Sandra | Wed, 7 Sep 2005 18:50:51 EST

My husband died this year and he willed me a house that still had a lot of money owed on it his payment the lender has been theathened to send the loan to foreclosure. What can I do my, husband was a disabled veteran. Do you have any information to help in this situation?

Above Posted By: anonymous | Sun, 28 Aug 2005 19:40:26 EST

After thirty years, we find ourselves in foreclosure. What is this right of redemption? As our loan company was advised of our situation of lost income, and would not they advised us they needed x dollar, not so much a week, they were a collection center, I feel like the next step up the ladder-someone could have come forth, when they saw something was wrong. I'm just a name and number in the system.

Above Posted By: sam | Sat, 27 Aug 2005 04:53:31 EST

There is no law in real estate. They're forcing you into foreclosure. Tell them you would like a forebearance or take the money to them and put it in their hand, then go sell the property immediately. They want your equity. And the law won't do anything to protect you. They did it to me. I sold the house and sued them, went to court with piles of smoking guns and ended up with a judgement against me, not them.

Above Posted By: Anonymous | Sat, 27 Aug 2005 02:12:59 EST

Dear Sirs, I am in default of my mortgage 34 days. I received a call at my workplace that the woman stated in order to prevent foreclosure, I have to DELIVER TWO PAYMENTS ONLY TO HER AND HER SUPERVISORS HAND AT THE CORPORATE OFFICE. I can not send an overnight money order, nor will this company accept a Western Union Quik Collect from me. This office is 100 miles away. I will have to take a day of work to do this. Is this legal? Help.

Above Posted By: Anonymous | Thu, 25 Aug 2005 07:02:56 EST

we had a business with lines of credit. the business is bankrupt and we signed our house as collateral. is their anyway to save our house without paying all our debt to the bank. our attorney says they probably will not negotiate. we owe the bank 3 times more than my house is worth. also, i just got notice the bank wants the courts to let them have a sherriffs sale. thank you

Above Posted By: anonymous | Sun, 14 Aug 2005 10:15:02 EST

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