One year after we bought our house the payment was raised by almost 400 a month. It wasn't easy but we managed to pay it, that is until my dh got laid off. It didn't take long to burn any savings we had.
His time off left us completely and totally broke. He managed to find work before we could no longer make the payment but it didn't last long and he got laid off again. This time with nothing to fall back on we couldn't make the payments.
Thankfully we were able to get our loan modified and for the last year we have had no trouble making the payments. If fact we have been paying a little extra each month.
Now here it comes:
Last month our loan got sold. The new company says our modification was only temporary and they do not have to honor it. They sent us back the money that our old company was holding and said that the house is now in foreclosure. It's looking like we have to come up with well over 10,000 to save our house. My husband has only been back to work for a year and we haven't had time build back our savings yet.
Now don't get me wrong we aren't just going to lay down and take this crap. I still have a lot of questions I want answers too.
But I do have to plan for the worst and expect to move.
My question is, if you have had a home foreclosed on how long can I expect to have before we had to leave? Was it difficult to find a place to rent to you? And was it as bad as you thought it would be? How has your life gotten better or worse since then?
Sorry you are going through this. I'd check into what they are talking about too!! Check the paperwork you signed for the loan modification. I'd even call other banks and ask if loan modifications are temporary.
We had a foreclosure lawyer on the other house. She was $150 a month and well worth it.
We filed the bankruptcy April 27th so it and the one we live in will be gone but still has to go thru the foreclosure process.
The first consultation is usually free. If you can do that I would see a foreclosure specialty attorney.
I truly don't think it is temporary. But if they can con you into it the better for them.
If it goes into foreclosure it is normally a year before you can expect to HAVE to move...could be longer.
For you foreclosure MAY have started but if you haven't been served by a process server, and if it truly is in foreclosure you will be, it's the law, then you have quite awhile. It has to be filed in the courts and you have to be notified that it has.
Find a foreclosure attorney. Best $150 you will spend.
I know you are in Florida but I don't know where...if close to Sebring, Avon Park, Okeechobee let me know and I can tell you an excellent one with free first and 150.
Ann, is this a Home Affordable Modification Program modification thru the Troubled Asset Relief Program? If so, contact MHA_Compliance@mhacompliance.com and see if they can legally do what they are attempting to do.
Came back in to say when the mods start it is ( at least with Bank of Hell and First Horizon ) they start with a 3 month temp trial period. After that they are SUPPOSED to be converted. I'm quite sure there's alot I don't know but I know I would get an attorney either way.
Nicoles link to loansafe.org is an excellent one. I have had it marked in favorites for almost a year. On this site you can read alot of what the people themselves have to say about what they are going thru. It is the main reason we decided a long time ago not to try to short sale the one we live in thru Bank of Hell.
Yeah , here is what we are finding out. We did the three months and all was cool so we kept paying. NOW they say we haven't made a payment in 9 months! HUm.. yeah well my bank-statements say otherwise. And if it were true that we hadn't made any payments for 9 freaking months wouldn't we have heard something from someone by now.
Last I heard your a day late and the phone rings.
Stand strong Ann K and don't go down w/o kicking and screaming quite a bit first. We're all behind you in spirit.
My Dbrother and his wife are embroiled in a similar battle regarding a line of credit the previous owners defaulted on in 1994!!!. What a bunch of crooks.
Make sure that lawyer works exclusively for you. I'll send another prayer upward.
Normally we would send the payment today but I'm not sure what to do now. If we don't send it then they really can claim we didn't make the payment. If we do send it , it may be for nothing as we have no idea what's been happening to our money.
I will say that the new company was more helpful last night. They are putting their fraud investigation team on it to find out who does have our money. We will have to go from there.
I gotta say I agree with the talk to a lawyer. Shoot, talk to several. I can't believe that in Florida they would want to take ANYONEs house that is sending ANY money. It just doesn't make any sense with all the foreclosures and the dead real estate market.
I just saw this and I can't believe it! This is terrible! Please, at least get a consultation from a lawyer. Are there lawyers that deal specifically in real estate? (I really don't know).
Did you find out if you should make a payment just to cover yourself and have a paper copy of a payment? That way they can never say you didn't pay.
Sorry if I don't seem to get this right-I'm just so shocked that they would do this to you.
I think for this month you should pay so that there is no question. It seems they are in the wrong but if you don't pay in good faith then they will point to the missed payment and make an issue about it.
Of course the other thought would be to not make the payment and see who it is that calls....
Oh we will be getting a lawyer, we just need a few days to get the facts and make sure it's not just an error that can be fixed easily. Somehow I think this a case of someone not doing their job and we fell in between the cracks.
Is there a physical location for the place that says they don't have the money that you could go to and walk out with a paper receipt for this month's payment?
Good one and if not mailed...signed for and return receipt requested.
Can also be tracked if delivery confirmation
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