Steps in Foreclosure??
Posted by AJ on October 30, 2007 at 20:00:09:
I own a home in KY and have already been behind on my first mortgage, in which I was able to get a forbearance that they added to on top of my monthly payments at the time. Well, a year later, I am no better off financially and am behind again. At this time, a second forbearance is not an option so the bank is declaring foreclosure. I have also been notified that the bank has gotten a lawyer, who was kind enough to serve a complaint just yesterday.
What I need to know (or understand rather) is what is the process from here, and who do I contact to find out the best information possible; the bank or the lawyer? I would like to try and do a short sale if possible. It has also been suggested that I try and get a Deed in lieu of foreclosure.
Why am I so confused right now?? Can someone help me understand my options??
Thanks,
Tired and sick of being financially stressed
Follow Ups:
- Re: Steps in Foreclosure?? - jim 00:28:31 11/02/07
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- Re: Steps in Foreclosure?? - aj 17:04:00 11/04/07
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- Re: Steps in Foreclosure?? - Robert Rathbun 11:07:59 11/09/07
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- Re: Steps in Foreclosure?? - Delia R. 12:12:37 11/01/07
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- Re: Steps in Foreclosure?? - Chris Blanks 01:18:11 11/01/07
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