Options to stop preforclosure's - requested modification 70 days ago instead received notice to begin foreclosure


Posted by Niecey on December 02, 2007 at 10:20:42:
In Reply to: Re: % of Lenders that will do remodification??
Posted by steele in minnesota on December 01, 2007 at 07:13:43:

Hi,

Help!!!

I've submitted all the documentation requested to get a loan modification and was told it could take up to 60-90 days. Now I'm going into 5 months of default and have just received a letter from the attorney's of the lender adding an additional $5,000 onto my loan balance, demanding full payment and advising if they do not receive a response within 30 days they will start the procedure to foreclose. After receiving the letter I telephoned my mortgage lender and was told I have to resubmit all the documents again because they have expired and even though I have requested a loan modification and show I am trying to work with them this will not stop the foreclosing procedure. Also they will not accept any money from me unless it is for the full amount of the defaulted amount which I do not have. I am a single parent and cannot afford to lose my home..Is there anything I can do besides filing chapter 13. I've placed the house up for sale after waiting for an answer from my mortgage company and growing hopeless but have not receive any offers. I've lower the price where I will not receive any profit over $10,000 giving some equity away and still everyone wants more. They want me to pay their closing + plus the equity which will leave me with nothing to start over. What can I do, this is my first time in this situation (lost my job) I just recently started working again, making a little less money and really want to keep my home.


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