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mrscoolh2
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 Posted: Tue Dec 02, 2008 12:01 pm Post subject: my home in trouble |
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hello, i am living in a home that is in my dads name, he passed away about 8 months ago. i caught everything up, and there are 2 different mortgage companies for this loan, not 2 mortgagages, 80,000 through one company, and 20,000 through another. i had paid some of my dads debt,that is why i am behind. i owe oct, nov for the 80,000, at 887.00 a payment, and sept oct nov at 246.00. that one knows my dad passed away, i did not tell the other one, i am scared they wont work with me, and i donot want to lose this home. what do i do, can i lose it, for the fact that it is not in my name, i want to catch it up. i am scared. i have lived here 11 years, it used to be in my name, but we have been trying to work on our credit. i have had alot of stress over this, i need some advice,a nd some help. this home is all i have. what do i do? i am in texas
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 smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Tue Dec 02, 2008 8:53 pm Post subject: |
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Hi mrscoolh!
Welcome to forums!
I think you should first speak to both the lenders and inform them about your father's death. You should also inform them about your problems in paying the debt. The lender may agree to do a loan modification or a forbearance.
If you are opting for forbearance, the lender will suspend or reduce your payments for few months depending upon you situation and also give you an alternate payment plan to pay off the dues. To know more about forbearance, check out the following link:
http://www.mortgagefit.com/forbearance.html
In case of a loan modification, you will need to contact the loss mitigation department of the lender. If they agree for a loan modification, the lender will give you an alternate repayment plan.
Feel free to ask if you have further queries.
Sussane |
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mrscoolh2
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| Posted: Wed Dec 03, 2008 7:39 am Post subject: |
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| i think there was a modification or foreberance, not sure which done right when he died, he was in the middle of it, so they proceeded. will they take my home away without giving me a chance to catch it up? that is what i am scared of. i am fixing to make a payment of 887.00, then i iwll only owe for nov. and now dec. it will make it a little better. i am really worried, and donot know how to start this |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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| Posted: Thu Dec 04, 2008 1:58 am Post subject: |
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Hi mrscoolh
I think the lender will definitely give you a chance to catch up on the payments. Speak to the lender immediately and check out the options that he can offer you. May be they will give you the option of loan modification.
Thanks.
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Good is the Enemy of Great. |
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mrscoolh2
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| Posted: Fri Dec 05, 2008 11:03 am Post subject: |
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| thank you |
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