Posted on: 11th Jun, 2009 09:41 am
Hi my name is Joyce,I live in Calif. My home is now in mitigation as we speak, I hired a lawyer who's handling it. I have a sale date already which is June 16, I'm trusting God to make everything alright and will except whatever the outcome may be. The thing is my loan company is very tricky and is really the reason I'm so behind now they would lead me to believe that I was in modification accept my down payment and then pay games they would keep saying they did not recieve my paperwork when I know beyond a doubt that they did, I actually sent them the paperwork at least 7 times by fax e-mail, and had someone else to send them also
always getting the transmission report saying transmission OK. I hired someone else only to get the same result now I have a lawyer, but now I have a sale date and I want to know how long do I have before I would have to move.
always getting the transmission report saying transmission OK. I hired someone else only to get the same result now I have a lawyer, but now I have a sale date and I want to know how long do I have before I would have to move.
your lender should allow you for Pre-foreclosure sale. You may qualify if:
1) current appraised value is at least 70% of the amount you owe and the sales price is 95% of the current appraised value,
2) the loan is at least 2 months delinquent prior to the pre- foreclosure sale closing date;
3) you are able to sell your house within 3 to 5 months (depending on what your lender agrees to). An additional benefit to this option is the assistance you will receive with the Seller-paid closing costs.
therefore follow up with your bank to get the approval. however you will be answerable for payment of balance loan amount.
1) current appraised value is at least 70% of the amount you owe and the sales price is 95% of the current appraised value,
2) the loan is at least 2 months delinquent prior to the pre- foreclosure sale closing date;
3) you are able to sell your house within 3 to 5 months (depending on what your lender agrees to). An additional benefit to this option is the assistance you will receive with the Seller-paid closing costs.
therefore follow up with your bank to get the approval. however you will be answerable for payment of balance loan amount.