My mom and my step dad have declared bankruptcy one or two times in the last 10 years. My older brother now lives with them because his health hasn’t been so great for some time. Needless to say their credit isn’t so good after filing for bankruptcys. Now I hear the bank has gone to foreclose their home and they say to us, their adult children that they have their lawyer working on it but don’t tell us much else. My parents havent made such great choices about their money in the past so we are pretty skeptical. Not only that a majior reason why they are in this finacial hell is because my step dad fell for an internet e-mail scam. I and my brother am trying to help them as much as we can with our own practical smarts but they haven’t told us any details so far. From what we gather my parents could be housless come Febuary. What can be done to help them legally and, or what would you do about all this?

Renegotiate a lower payment, or lower interest rate that would lower the payment.
Try to defer a couple payments (some lenders allow this)
Find a private lender (someone that has enough money to buy out the mortgage and then you just pay them back under whatever terms they set up with you)
Get a part time job to help make payments
Get someone to rent your basement or a room or suite (this would still be your principal residence, you’ve just got a ‘roommate’ now as well).
Create a budget and really analyze where you money is going and ways to free up cashflow.

You may be able to delay by asking for them to produce the note. But the only way to stop a foreclosure is to bring the note current or to work out something with your mortgage lender.
Here’s a link on how to request the lender to produce the note: http://www.consumerwarningnetwork.com/20…
**not legal advice. only an attorney can give legal advice.

We recently started a new business and things have been extremely slow so we’ve had virtually no income. We’ve been living off of credit cards and been unable to pay our mortgages(we have 2). I have now received letters of intent to foreclose if we do not come up with the money in the next 10 days. I am wondering what my options are. Should I just throw in the towel and let them take the house? I know my credit is shot but if it’s in my name only, would my husband’s credit still be ok? I just had a baby and we have a 4 year old. I think if we had enough time we could get the business generating enough income but I’m out of time. I don’t know what to do!

am a couple months behind on my payments and want to sell now. am not looking to make a profit just need to get what i owe.

My mom and my step dad have declared bankruptcy one or two times in the last 10 years. My older brother now lives with them because his health hasn’t been so great for some time. Needless to say their credit isn’t so good after filing for bankruptcys. Now I hear the bank has gone to foreclose their home and they say to us, their adult children that they have their lawyer working on it but don’t tell us much else. My parents havent made such great choices about their money in the past so we are pretty skeptical. Not only that a majior reason why they are in this finacial hell is because my step dad fell for an internet e-mail scam. I and my brother am trying to help them as much as we can with our own practical smarts but they haven’t told us any details so far. From what we gather my parents could be housless come Febuary. What can be done to help them legally and, or what would you do about all this?

all the stop foreclosure sites want money up front but am really not sure they can really stop foreclosure

Home to be sold within 30 days I believe. How do I stop this process? I need help!

I had talked to the people at the mortgage company in the past and they said that even though we were one month behind, as long as we kept making the payments each month that we would be ok.

Simply put, pay the mortgage. Short of that you need to contact the lender and try to work something out. You can try a short-sale or a deed-in-lieu of foreclosure. Both would stop the process but neither lets you keep the house.
Declaring bankruptcy will also postpone things a couple months but would you want a bankruptcy and foreclosure on your credit report?
Good Luck!