Posted on: 15th Aug, 2009 01:08 pm
We are in the beginning of foreclosing on our home. Am I able to make a minimum payment in order to remain in my home for longer than the typical timeframe?
bph
Welcoem to the forum
At this point youcna contact the bank and ask if you cna rent the place, which they foreclose
Good luck and feel free to ask
Welcoem to the forum
At this point youcna contact the bank and ask if you cna rent the place, which they foreclose
Good luck and feel free to ask
contact lender and discuss with lender
Hi bph!
Welcome to forums!
A lender will start foreclosure proceedings only if you are delinquent on your mortgage payments. If the foreclosure proceedings have already started, I don't think you should pay the mortgage dues as your property will be sold off to recover the dues. You may be able to stay in the property till the foreclosure sale takes place. Once the sale is over, you would get a 3 day notice period to leave the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A lender will start foreclosure proceedings only if you are delinquent on your mortgage payments. If the foreclosure proceedings have already started, I don't think you should pay the mortgage dues as your property will be sold off to recover the dues. You may be able to stay in the property till the foreclosure sale takes place. Once the sale is over, you would get a 3 day notice period to leave the property.
Feel free to ask if you've further queries.
Sussane