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jbj117
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What is the name of your state?What is the name of your state?What is the name of your state? Tennessee
When I realized I was unable to make mortgage payments, at the 60-day past due mark, I contacted the lender. Two weeks later they sent me a financial packet for a workout agreement, which I completed and faxed to them a week later. The following week I got a job, one week later I submitted a mortgage payment which was returned a week after that. I contacted the lender to find out why the payment was returned and was informed the property was turned over for foreclosure. The lender claimed to have not received my faxed workout packet. I have no proof of the fax, since my fax machine does time stamp nor provide a printed fax report. My mistake was in not calling to verify receipt of the fax. I refaxed the packet, but they denied a workout plan because I am in a temporary (6 month) employment position. They waited until the day before the deadline on the original reinstatement amount to inform me they could not work out a repayment plan, even though they had the packet for over two weeks and knew immediately that I was in a temporary employment position. Now, foreclosure sale date is 2 weeks away. I have 2/3 of the funds required for reinstatement. If I can't come up with the balance in time, would filing Chapter 13 be the next best option? How far in advance of the sale should bankruptcy be filed? Do I need to hire an attorney for reinstatement, since I've heard that even if the reinstatement amount is paid, it is not uncommon for a "math error" or some other glitch to occur so the foreclosure can proceed. I've spoken with a foreclosure assistance company, but am hesitant to use them to negotiate on my behalf, especially since there is no guarantee they can stop the foreclosure in time. I've heard so many horror stories and contradictory information I don't know who to trust or believe anymore. Can someone please offer a shred of insight on how to best deal with this nightmare? I have a $47K mortgage balance, and 70K+ equity, which is the only financial asset I have after spending the past 4 years being a fulltime caregiver to my disabled mother, until her recent death. Is there any way to protect myself at all? Thank you.
When I realized I was unable to make mortgage payments, at the 60-day past due mark, I contacted the lender. Two weeks later they sent me a financial packet for a workout agreement, which I completed and faxed to them a week later. The following week I got a job, one week later I submitted a mortgage payment which was returned a week after that. I contacted the lender to find out why the payment was returned and was informed the property was turned over for foreclosure. The lender claimed to have not received my faxed workout packet. I have no proof of the fax, since my fax machine does time stamp nor provide a printed fax report. My mistake was in not calling to verify receipt of the fax. I refaxed the packet, but they denied a workout plan because I am in a temporary (6 month) employment position. They waited until the day before the deadline on the original reinstatement amount to inform me they could not work out a repayment plan, even though they had the packet for over two weeks and knew immediately that I was in a temporary employment position. Now, foreclosure sale date is 2 weeks away. I have 2/3 of the funds required for reinstatement. If I can't come up with the balance in time, would filing Chapter 13 be the next best option? How far in advance of the sale should bankruptcy be filed? Do I need to hire an attorney for reinstatement, since I've heard that even if the reinstatement amount is paid, it is not uncommon for a "math error" or some other glitch to occur so the foreclosure can proceed. I've spoken with a foreclosure assistance company, but am hesitant to use them to negotiate on my behalf, especially since there is no guarantee they can stop the foreclosure in time. I've heard so many horror stories and contradictory information I don't know who to trust or believe anymore. Can someone please offer a shred of insight on how to best deal with this nightmare? I have a $47K mortgage balance, and 70K+ equity, which is the only financial asset I have after spending the past 4 years being a fulltime caregiver to my disabled mother, until her recent death. Is there any way to protect myself at all? Thank you.