Mortgage Payment

Guest 0.10 Dollars($)

Hello,

I cannot afford to pay my whole mortgage for the month of June. My mortgage payment is $1418 and I am sending in $1200 do you think they will try and foreclose on the house.

Guest 0.10 Dollars($)

Hi Vilma,

Most lenders only start foreclosure procedure after the borrower is 90 days default. So I don't think you should fear a foreclosure right now.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Vilma please go through this page for more information about foreclosures and when the lender normally forecloses if the loan is in default: http://www.mortgagefit.com/foreclosure.html

Miller

ezmortgageloanz · Posted: Fri Jun 29, 2007 12:29 am Post subject:

I agree with the other posters that your current lender will not begin foreclosure proceedings until you are in the arrears more then you are.

It's obvious that circumstances in your life (loss of job, new job/lower income, etc.) or with your current mortgage (ARM adjustment, loan recasting, etc.) have changed---the time is now to determine your future with respect to your home.

If affordability will be a challenge from this point on, you might need to consider taking on a roomate or selling the property---if affordability is temporary, you still might benefit from exploring your refinance options.

Hope this helps and good luck!

Regards,

Scott Miller

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