Mortgage Problems

The same thing happened to me 1 yr ago. I got the loan modified & my fees were like $3000 & we were only 2 pymts behind. I too paid & they would not accept pymts & then the 2 before that went to "other" fees. They rip you off just like everyone else. Who is your lender? I understand if you would rather not say...or maybe pm me if you want. That was a terrible time going thru that. Ours was already for sale on the courthouse steps!!!!!!!! That is how they do it here in Missouri.

Were you informed earlier about the dates if the mortgage payment can go to a possible foreclosure? The mortgage company didn't send you any written notice. You must fight with this point thinking about the point that the negative info will remain in your file negatively for 7 years, besides the fact that there will be additional expenses.

Read your contract and understand when the company fixes to send an account to foreclosure? If they have sent it before the specified date, you hold a legal case.

I will read over the contract this weekend. I told my husband last winter, before we were married not to sign up with this company. He was with an even worse company before he refinanced in 2005 (early). Heck, they even stated they had not sent written notice. I don't want lose the house but I don't want to get ripped off either. I'm sure it might be within the specified days since it was ninety days past due. They stated they sent notice in November 05 and Jan 06 when hubby ran thirty days late. They accepted a payment on Jan 9 from us. I was upset with hubby that he didn't tell me how far behind we were but I know that we will work through this mess. I'm really angry at the mortgage company right now. I just want to see solid proof and not take somebody's word for it when the story has changed two or three times. They didn't like the fact that I called them on that either.

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Mishele, I am so sorry to hear this is happening to you just as you are getting things under control with everything else. You never said what company it was and I know we got behind on ours a little last year but only 1 payments and we did get it caught up. I hope everything works out for the best. Keep us informed!
Sue

Mishele,

that sucks. I hope you can get them to at least compromise on those fees. That just seems a little excessive considering that you haven't even received notice.

David, You had mentioned that you have to be 90 over...I don't think that is true for all lenders. Mine was not even 60. I was told 45 days...

Well my husband was served with the summons today. So I guess we will just have to take the payment arrangments we worked out with the mortgage company last night and swallow the fees over the next few months.

I really don't want to go to court over this and incur more fees. :roll:

Okay, I've got a question, oddball or not, here it goes. My husband said someone in a plain car served him the papers today from the lawyer for the mortgage company. This makes sense since it is a court summons. I was going through the other mail and noticed that he has to pick up a certified lettter. I did some research on the name the card and it's from the clerk of courts in our county. Would he send a different certified letter regarding this matter? I'm wondering if it is from a local doctor's office who we listed on our debt settlement program. If they decided to sue him, would they have to send a summons through their attorney? Or would he just get a certified letter notice like this?

Mishele,
I have been working on my master's in criminology for a few years now, and a class i took last year was probate. When you are served with a summons, the court must also send a letter by postal mail. It doesn't have to be registered, though..So it could be something else entirely..Also, I'm pretty sure this is a federal law, although I could be wrong and it's just the state of Michigan. Also..I learned-and once again, this is the State of Michigan- that a creditor can reposess, either home or vehicle, at any time the loan is 30 days past due. It's at the creditor's discretion. they cannot, however, just up and do this, they must give you fair notice so you can pay the outstanding balance. You are getting pooped on here. It's not in their best interest to foreclose, anyway, that's gonna cost them more in the long run than you being behind a payment or two will. Are they "officially" foreclosing, or are they making noise about it? Also, if you accept their payment arrangements, do you not have to go to court? And, if accepting the payment arrangements to stop foreclosure, wouldn't you think that you wouldn't have to pay foreclosure costs? I know that foreclosure is a long process with a lot of different levels, but those fees seem pretty pricey. Good luck.

Mishele,

When we almost got foreclosed on over 1 yr ago we recd certified ltrs in the mail & ltrs from our mortgagees attys that handle their foreclosures. When you say pymt arrangments, are you getting the loan modified? Does that sound familiar? I don't think those fees sound bad at all. Mine were $3000 it was basically like redoing the loan. The past due amts & fees were added into the balance & then respread out.

Well, we made payment arrangments Friday evening with the mortgage company to get the loan caught up and out of foreclosure. We never received a notice of intent from the mortgage company this time. Anyway, we will be paying half the balance this week, I'm glad we have the money to do that. Then, they are adding the other late charges and balances to future payments, eight months in all. They worked with our finances to get a comfortable payment for us. I guess that was in our favor. I'm not sure if the certified letter is related to this or not, I have a feeling it is about an old medical bill of my husband's that we now have listed with our debt settlement company. He is going to pick it up today and we'll go from there. I already sent an e-mail to my debt counselor, to give her a heads up. I don't think we'll have to go to court now. I have to talk to the mortgage company tonight after they fax us the paper work today. I guess will we have to contact their lawyer and the court. I just want to get this situation taken care of so we can deal with other things.

Hi Mishele,

Having the sense of responsibility in you, I am sure you will be able to take care of the situation. Talk to the mortgage company and send your payments. They will stop any sort of actions against you.

Also, keep a check on your credit file and see how different companies are reporting your accounts. You must not let any wrong information hit your file and hurt your credit ratings.

A little update and relief this afternoon. My husband was off today so it was good timing on his part. He did pick up the certified letters from the post office and they were regarding the mortgage issue. (big relief) Also, we received the papers from the mortgage company for both of us to sign and fax back tomorrow regarding the payment arrangments. Also, hubby picked up a certified check from the bank today for half of the amount past due that we agreed with the mortgage company. We will overnight it to them and this should be taken care of by Wednesday. I have to call the mortgage company tonight so I will find out more about the court issue then.

Glad to hear your (better) news today!

So was I Sue :)

YAY! :)

Good!!!