Trying to stop foreclosure

[414elf]

What is the name of your state? Illinois

We received notice from a local atty office with intent to foreclose. We have spoken directly to them and was given an ammout well beyond our current means to get 'caught up'. The deadline for payment is next week. Last wed we were served a summons and given 30 days to respond. Not even sure what to do re this. The loan is thru FHA and have spoken to a rep who told us to contact mtg company (wamu) and have them send forms to add past due ammount to loan and continue forward. The mtg said they would send these forms out but indicated it would take atleast 10 business days.
Bottom line we do not want to lose the house - we can going forward make all payments. .But coming up with past due ammount is impossible. We have hardly any equity in home and my so has made arrangements previously with mtg co that were not met The court date on summons is 1/6/05. Any suggestions on how to proceed and save our home? Should I send Octobers payment in and hope it is accepted or keep it to go towards lump sum/ past due?
Any advise on how we can save our home would be greatly appreciated.
Thanks.

 

[FloridaRob]

bankruptcy will stop the foreclosure process and give you time to get organized. I mean to say delay the foreclosure process. You will still have to come to an agreement with the mtg co.

 

[HomeGuru]

What is the name of your state? Illinois

We received notice from a local atty office with intent to foreclose. We have spoken directly to them and was given an ammout well beyond our current means to get 'caught up'. The deadline for payment is next week. Last wed we were served a summons and given 30 days to respond. Not even sure what to do re this. The loan is thru FHA and have spoken to a rep who told us to contact mtg company (wamu) and have them send forms to add past due ammount to loan and continue forward. The mtg said they would send these forms out but indicated it would take atleast 10 business days.
Bottom line we do not want to lose the house - we can going forward make all payments. .But coming up with past due ammount is impossible. We have hardly any equity in home and my so has made arrangements previously with mtg co that were not met The court date on summons is 1/6/05. Any suggestions on how to proceed and save our home? Should I send Octobers payment in and hope it is accepted or keep it to go towards lump sum/ past due?
Any advise on how we can save our home would be greatly appreciated.
Thanks.

**A: contact the FHA loss mitigation department at HUD.

 

[HomeGuru]

bankruptcy will stop the foreclosure process and give you time to get organized. I mean to say delay the foreclosure process. You will still have to come to an agreement with the mtg co.

**A: why are you talking of BK rather than the FHA office since you are so well versed in FHA dealings?

 

[FloridaRob]

HG, does my answer stop a foreclosure???

Never claimed to be an expert on FHA dealings. That was you telling everyone you were an expert in the appraisal process before I set you straight. I am an expert on FHA appraisals, Not FHA mortgages.. Do you know the difference between a mortgage and appraisal. Sometimes the FHA mortgage program affects how the appraiser completes the appraisal but you already knew that. Right? (Sarcastic alert)

Now tell me again how an FHA appraisal inspection is different than a conventional appraisal inspection....I am still waiting for the answer you owe me and that you conveniently ignore.....

 

[MortgageGuru]

Another option would be to enter into a forebearance agreement with the lender. After 12 consecutive months of no late payments you will be able to refinance it on acceptable terms with just about any lender.

 

[amortgageman]

Do as HomeGuru has suggested. Contact your local HUD office.

They will be more than willing to assist you in an ageement that will put your previous mortgage late payments to the end of your loan. You will most likely be responsible for attorney's fees, etc., to bring the loan current.

You must also be able to prove that you will be able to afford the payment from here on out., which by your indications you can do.

Do not at this time send a single montly payment to WAMU, because most likely they will not accept it.

As far as the bankruptcy proceedings, forget it.

Refinancing in another year? Another bad idea. What good would that do, anyway?

Stay within your FHA loan, HUD will work with you. Refinancing out of FHA could jepordize your ability to work with FHA and HUD to get you out of the jam.

 

[HomeGuru]

HG, does my answer stop a foreclosure???

Never claimed to be an expert on FHA dealings. That was you telling everyone you were an expert in the appraisal process before I set you straight. I am an expert on FHA appraisals, Not FHA mortgages.. Do you know the difference between a mortgage and appraisal. Sometimes the FHA mortgage program affects how the appraiser completes the appraisal but you already knew that. Right? (Sarcastic alert)

Now tell me again how an FHA appraisal inspection is different than a conventional appraisal inspection....I am still waiting for the answer you owe me and that you conveniently ignore.....

**A: post reference.

 

[FloridaRob]

**A: post reference.

LOL!!! Not a chance. You know where to find it. Go find it yourself...Or better yet. Go get a job. Somebody with 45,000+ post on a website where 95% of the time you tell the poster to go find an attorney or you chastise them for their lack of knowledge on something needs to get a job or a life. In your case it would probably serve you to get both. NOw go away, I am tired of playing with you.

Just for kicks, since you registered here in May 2000, you average close to 30 posts a day during 4.5 years. Damn dude, get a girlfriend or something......

 

[HomeGuru]

LOL!!! Not a chance. You know where to find it. Go find it yourself...Or better yet. Go get a job. Somebody with 45,000+ post on a website where 95% of the time you tell the poster to go find an attorney or you chastise them for their lack of knowledge on something needs to get a job or a life. In your case it would probably serve you to get both. NOw go away, I am tired of playing with you.

Just for kicks, since you registered here in May 2000, you average close to 30 posts a day during 4.5 years. Damn dude, get a girlfriend or something......

**A: post reference.

 

[HomeGuru]

FloridaSlob drools again.

 

[FloridaRob]

FloridaSlob drools again.

LOL!!! another memorable posting of the forum clown. Keep it up loozzer...before long you will be at 50,000 postings and guess what you win for that. Another lonely day in your little miserable existence.

 

[HomeGuru]

LOL!!! another memorable posting of the forum clown. Keep it up loozzer...before long you will be at 50,000 postings and guess what you win for that. Another lonely day in your little miserable existence.

**A: don't you have better things to do like dealing with your IRS lien and rasing your low credit score?

 

[FloridaRob]

somebody with 50,000 postings on an internet site is asking me if I have something better to do. LOL.

My IRS lien has been settled thank you very much for your concern.

 

[HomeGuru]

somebody with 50,000 postings on an internet site is asking me if I have something better to do. LOL.

My IRS lien has been settled thank you very much for your concern.

**A: yeah right. The IRS still has outstanding issues with you and you know it.