forecloser??

[huckster]

forcloser trying to help someone

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i have a friend asking if i know any thing about losing thier home , only details i know are
the bank want all the late payments up front in 6 days , or nothing , they cant come up with money , the bank wont budge ,
they want to know how long before they have to move ? and will the bank take and sell all there belongings too?i feel so bad for them .. every time i say talk to the bank they say they wont budge and its the 3rd time they have struggled with this..
any ideas ? i really cant help them to much

 

[jfulcer]

i have a friend asking if i know any thing about losing thier home , only details i know are
the bank want all the late payments up front in 6 days , or nothing , they cant come up with money , the bank wont budge ,
they want to know how long before they have to move ? and will the bank take and sell all there belongings too?i feel so bad for them .. every time i say talk to the bank they say they wont budge and its the 3rd time they have struggled with this..
any ideas ? i really cant help them to much

I hate to preach but owning a home is a large responsibility. If they cannot handle paying the payments on time maybe they *should* be reconsidering living in a house. They may need to move out to an apartment, even if it's much smaller than the house if that's what they can afford. The foreclosure would follow them around for quite some time I'm afraid.

I don't think they take all the belongings and sell them. And my guess is if this is the third time, and they are that far behind on payments, the bank is going to press them to be out pretty quickly.

I'm not sure what their options are. Can they talk to a lawyer of some sort?

 

[Planogirl]

It sounds like they're in over their head. Can they sell and avoid some of this? I can see a one time problem due to layoff or some other catastrophic situation but you said that this is the third time that they've had these problems? That seems like a bit much and it sounds like they need to rent and get out of home ownership.

 

[LuvN~Travel]

Their lending institution is also required by law to send them info from HUD that can help with such a case. There are several options given about payments when you are presented with that data. They should have received that info before the company actually foreclosed.
We actually went through this several years ago, because we had an 'evil' mortgage company messing with our account. They had hid a payment that by law they could not collect on, and lost another we had sent (sent by certified mail no less and we had the receipt they got it), and totally ignored any letters we sent asking about it. (which they ultimately had taken out of our escrow anyway, we had enough there to cover it). They kept saying we were two payments behind. However, in our case before we could drag the local tv station down there after exhausting all of our options and them ignoring us, they then sold it to another company in another state, and we had to start all over with them in our requests to find out what happened.
The long shot of this is that we did lose our home because the first company messed it up, and the second refused to do their job and fixing/and or finding out just what the heck had happened.
Now, we did get the notification that the second company sent saying that by law they had to give us notification that HUD had data we needed. Of course in our case, we never felt that it was appropriate. We had kept up with our payments, it was the company who had messed up! But, tell them that it is possible to get some help with HUD. It may mean putting those payments at the end of the loan or such, but they do have some recourse at the moment before the foreclosure.

Sorry for the long response. It's a bit of a sore spot for us you can guess.
At least they both lost in court when we sued them. Now we are just waiting on payment from the second company. They keep appealing the verdict. Of course they've also lost in court so far, and lost in the civil appeals court here.
Kim