Re: I don't want to lose my house!

Posted by NJDave on April 21, 2005 at 09:27:52:

In Reply to: I don't want to lose my house! posted by maddy on April 21, 2005 at 01:24:12:

Here is what I would do, but I'm not a lawyer and this isn't legal advice....

You could call their bluff.... but present your workout proposal to them in writing (ICRR mail)
with a good faith payment and a schedule of when
future payments will be made. Be sure to stick to
letter of your schedule... you won't get a second chance.

You could consult an attorney about bankruptcy.
File. While the collection process is in temporary
limbo.... save your money to use to bring the loan current.

When you've got the funds (including foreclosure costs
and their legal fees) withdraw the bankruptcy petition
and pay your mortgage lender what is due in full.

Follow Ups:

Name    : 
E-Mail  : 
Subject : 

Comments:
: Here is what I would do, but I'm not a lawyer and this isn't legal advice....

: You could call their bluff.... but present your workout proposal to them in writing (ICRR mail)
: with a good faith payment and a schedule of when 
: future payments will be made.  Be sure to stick to 
: letter of your schedule... you won't get a second chance. 

: You could consult an attorney about bankruptcy.
: File.  While the collection process is in temporary
: limbo.... save your money to use to bring the loan current.

: When you've got the funds (including foreclosure costs
: and their legal fees) withdraw the bankruptcy petition
: and pay your mortgage lender what is due in full.


Optional Link URL : 
Link Title        :