What Happens If I’m Being Foreclosed On, But Then I Come Up With All My Payments At The Last Minute!?
February 22nd, 2010 - ByPosted in Stopping Foreclsoure
Do mortgage companies mind stopping foreclosure if you come up with the money to pay up, and get back on track? I recently came up on a large sum of money, will they work with me?
5 Responses to “What Happens If I’m Being Foreclosed On, But Then I Come Up With All My Payments At The Last Minute!?”
February 22nd, 2010 at 4:32 pm
Stop waiting, get them paid off. It is called a CURE and it is provided for by law and in the mortgage and in foreclosure.
It happens and banks deal with it. They’d rather have you owning house and paying them, then having to try to sell it. In fact try to negotiate an amount so that you don’t have to pay ALL the attorneys fees and foreclosure costs–you are LIABLE for them according to your mortgage.
February 22nd, 2010 at 5:04 pm
chatsplas is right. You can try contacting them personally or hire some to do it for you. But don’t wait any longer. TAKE ACTION!
I helped a family a few weeks ago that had the same thing happen. They got an inheritance about a week out of foreclosure. We were able to get their past due payments, fees and everything forgiven. We then set them up on a budget, and put the money in some investments so they won’t blow all of it and end up in the same boat again. The Dad just got a new job and it looks like they are going to make through this just fine.
We are a very reputable reasonable company with an A+ BBB rating. We can help you. If you would like some more information, please email me.
February 22nd, 2010 at 5:50 pm
Most foreclosures demand payment in full or possession. They’re not obligated to drop the action if you just pay the past due amount. Talk to your mortgagee (lender) but don’t send any money until you receive in writing their agreement to drop the action upon receipt of the past due amount.
realtor.sailor
February 22nd, 2010 at 7:04 pm
they will almost definately work with you…bottom line they don’t want to foreclose because then the bank will lose out. Give them a call and explain that you are willing and able to catch up. They would be crazy to turn you down. I would also write a letter stating you are willing to pay as well. Document it to cover yourself. This might save your credit
February 22nd, 2010 at 8:53 pm
definitely call the bank and discuss. They will call the attorney for a payoff of fees and expenses, and that will be added on.
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