Help

sunshine_smiley69 · Joined: 02 May 2008 Posts: 2 1.67 Dollars($)

We just found out our mortgage company Wells Fargo raised our monthly payment $77.00 and forgot to mention it to us. Now even thought we have paid the monthly payments, they have put us in foreclosure for not making the full payment counting it as only a partial. Please help

gmakerley · Posted: Fri May 02, 2008 12:11 pm Post subject:

help how? i don't have a spare $77 to help you with, if that's your request.

other than that, how many months have elapsed since your payment was increased, and how much do you need to pay all at once to catch up? is wells fargo unwilling to allow you to come up with the funds to reinstate the mortgage? that would seem pretty odd - you need to discuss this with them immediately.

Guest 0.10 Dollars($)

We have to pay 2482.00 in ordered to get the house out of foreclosure; isn't there some kind of law regarding this kind of practice? If anyone knows I would appreciate any kind of suggestions.

sunshine_smiley69 · Joined: 02 May 2008 Posts: 2 1.67 Dollars($)

I want to know when your paying the payment every month then all the sudden you find out that, your in foreclosure and unless you pay $2482.00 your house will be on an auction block in less than a month, this all come out of the blue, no warning. How are these companies allowed to do this isn't there some kind of law against this type of business actions.

larry · Joined: 27 Jun 2007 Posts: 3074 431.95 Dollars($)

Hi sunshine_smiley,

You have made your monthly payments on time but inspire of that you are in foreclosure. Talk with the bank ASAP. They cannot just foreclose if you have made the payments on time. If they forgot that are their faults.

You can talk with an attorney also on this regard.

Best of luck,
Larry

gmakerley · Posted: Sat May 03, 2008 6:59 am Post subject:

how in the world does $77 per month eventually add up to $2482? how long ago did this change in your monthly payment take place? you never looked at the payment notices, annual notices, annual statements, etc. that you received?

are there late charges accrued due to the monthly payments not having been satisfied for all this time?

have you contacted an attorney yet? you need to do so immediately, to represent you in this situation.

there is no lender in this country that desires to foreclose. it is a last gasp measure to recover the collateral for the loan that was granted. if you have the ability to pay these funds, or if you can have your legal counsel work on your behalf to eliminate some or all of the late charges, etc., then you can work this out, i believe.

did you truly only just find out that your loan is in default? honestly, that is far-fetched.

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