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Foreclosure?

Date: Fri, 05/29/2009 - 04:05
Submitted by on Fri, 05/29/2009 - 04:05
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We live in Illinois. Our mortgage is through Chase Home Finance. I have been running a month behind on our mortgage payment for quite some time now. Chase had never contacted us until 2 nights ago. Someone came to our door and was wanting to take pics of our house to make sure it is being maintained and to make sure someone lives here. The guy told my husband it is routine. He handed him a piece of paper with a phone number on it and said to call it and it would be explained what was going on. He called the number and the woman he spoke to said she didnt understand why someone was sent to our home since we were only a month behind she said that doesnt usually happen until you are several months behind. So then last night a Fed Ex truck pulls up out front. The guy hands me this big envelope. I didnt have to sign anything he just scanned it and said have a nice day. I opened it up and its a letter saying there is available help if you are having difficulty making your mortgage on time. It says to gather our loan number, monthly pre tax income and information about any financial hardship we are suffering. It says its to see if we qualify for a loan modification. WE ARE FREAKING OUT! Does this mean we are getting ready to go through foreclosure?


I would not panic at this point with only one payment behind...I have been 2 payments behind for a while now with Citimortgage and they have been working with me to try to catch up the mortgage (i have been behind for almost a year). Just make sure you are in touch with your mortgage company and do not avoid phone calls or letters from them. I don't believe they can foreclose until you are about 90 days delinquent, especially in this economy with so many foreclosures. My mortgage company let me set up a repayment plan so that I pay my regular payment plus a little more to catch up what's past due. you might try that with yours. good luck!


Submitted by cheek.la on Fri, 05/29/2009 - 04:21

cheek.la

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Thank you! I just thought it was odd that they had never called us before. Now all of a sudden they are coming to our house. When my husband called, the woman asked when we would be sending in our next payment and he told her it would be a few weeks. My husband only gets paid twice a month. Thats how we started getting behind on payments. At his old job he was paid weekly. The job he has now is every 2 weeks. We live paycheck to paycheck and I cram all of our bills into those 2 checks. Should we call and ask about the loan modification?


Submitted by on Fri, 05/29/2009 - 04:28

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you probably wouldn't qualify since you are not too far behind. If you can afford to add on a little more each month to your regular payment I would do that. They can take that one payment and split up over 6 months so the extra might not be too much. I would call them to see what your options are. When I went to CCCS to get into DMP they told me not to worry about 2-3 months behind because they see people all the time 10 or more months behind and the banks are just overloaded with foreclosures right now. Don't get me wrong...you should catch up the mortgage as soon as possible or set up arrangements but I wouldn't lose any sleep over it (like I did in the beginning!).


Submitted by cheek.la on Fri, 05/29/2009 - 04:32

cheek.la

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