Foreclosure help needed!

[patriciak]

What is the name of your state? Wisconsin

Hi,

I just received a letter today from an attorney representing my mortgage bank. He says if I don't pay the back payments within a week, he will be entitled to file a foreclosure against me. There is no way for me to come up with the money in a week. I just had to place my 42 year old husband in a nursing home due to MS. He lost his job and health insurance and my income couldn't make up the difference. I tried to hold on as long as I could, but I should have just sold sooner.

So, I have already decided to sell the house to pay off the entire mortgage and have been getting the house ready to put on the market - hopefully by next week.

I have left him a phone message stating this fact.

Is there any way to get them to hold off until I sell the house? I am taking the advice of the Realtors to price it to sell, so it should be a quick sale. However, it will probably be a month or more before we actually close escrow. Will a bank or the attorney usually allow for the house to be sold if they have proof that it is on the market?

If I get to sell the house, I will be able to more than pay off the mortgage and other debt, plus have money to get new housing. If they foreclose, I will have nothing and be in an even worse situation.

Anything else I can do to get this extra time? What usually happens in this situation? Is there any room for understanding and compassion at this point or do I just have to hope that it sells quickly?

Thank you for any help/advice.

 

[vahomebuyer]

At this point it would be up to the lenders atty usually if he will give you some time to sell the house. Depending on where you live even if he continues with the foreclosure it will be 30-60 days until the home is actually up for sale at the courthouse steps. Listen and work closely with your realtor you should still have time to do sell your home and get out from under that situation.

Best of Luck

V

 

[kristinwilson]

How much do you owe on your home, including all liens? We are looking for homes to buy. We are in Racine. It all depends on the condition of the home and the price. Can you tell me where you are and how much you need?

 

[HomeGuru]

How much do you owe on your home, including all liens? We are looking for homes to buy. We are in Racine. It all depends on the condition of the home and the price. Can you tell me where you are and how much you need?

**A: you are in violation of the terms and conditions of this website.

 

[kristinwilson]

I apologize. I just joined the forum and wasn't thinking when I added the link in my sig file. It's gone. Just my name and state now. Sorry about that.

 

[seniorjudge]

What is the name of your state? Wisconsin

Hi,

I just received a letter today from an attorney representing my mortgage bank. He says if I don't pay the back payments within a week, he will be entitled to file a foreclosure against me. There is no way for me to come up with the money in a week. I just had to place my 42 year old husband in a nursing home due to MS. He lost his job and health insurance and my income couldn't make up the difference. I tried to hold on as long as I could, but I should have just sold sooner.

So, I have already decided to sell the house to pay off the entire mortgage and have been getting the house ready to put on the market - hopefully by next week.

I have left him a phone message stating this fact.

Is there any way to get them to hold off until I sell the house? I am taking the advice of the Realtors to price it to sell, so it should be a quick sale. However, it will probably be a month or more before we actually close escrow. Will a bank or the attorney usually allow for the house to be sold if they have proof that it is on the market?

If I get to sell the house, I will be able to more than pay off the mortgage and other debt, plus have money to get new housing. If they foreclose, I will have nothing and be in an even worse situation.

Anything else I can do to get this extra time? What usually happens in this situation? Is there any room for understanding and compassion at this point or do I just have to hope that it sells quickly?

Thank you for any help/advice.

Standard answer on expired SOL and/or validation and/or dispute letters. There are thousands of posts similar to yours on this forum so I have prepared a standard answer.

SOL
http://www.bcsalliance.com/y_debt_sol.html

http://www.fair-debt-collection.com/Disputing_Collections/SoL-dispute-letter.html


Validation letter samples you can get at :
www.creditinfocenter.com
and www.creditboards.com


Disputes: You can write a letter of dispute to the three credit reporting agencies.

Go this website to find instructions and samples for how to dispute: http://www.creditinfocenter.com/creditreports/

Sometimes errors are easy to remove and sometimes they stick like glue. It is inexpensive to try and not difficult.

I am NOT a creditor-debtor lawyer; stand by for further help.

I am NOT vouching for the accuracy of these websites!