Foreclosure Sale date notice received

Anonymous — Sat, 26 Feb 2011 18:13:07 GMT

So being that it is Saturday and I can't call the mortgage company, I'm turning to this forum for a little help. Due to unemployment I have been out of work for the past 4 months. I am now behind on my mortgage by 6 months. I currently owe $9000 My mortgage is with US bank. I have tried working with the loss mitigation team. I sent everything they asked for and then received a denial letter saying I had not submitted everything. on the letter it said I had 10 days to submit the documents so the file could be reopened. I immediately faxed everything again. I even received the fax confirmation. This was about 3 weeks ago. I have been waiting since then to see if a decision had been made. I offered in my hardship letter to pay $3000 as a partial payment and then find some way to workout the rest of the past due amount.

Now today I received a letter in the mail (not certified, just regular) stating that this law firm was trying to collect a debt on the mortgage. On the letter it has 4/28/11 as the sale date of the property. It then has some information on how to request to stay in the FHA on a rental basis or something.

My question is can I still work with the lender once I receive this notice? Will they make me pay the past due amount. When writing to them I thought making the 30% partial payment was better than nothing. I was hoping they would work with me. Should I contact a HUD counselor to see if they have more pull than just me doing it myself. I just went back to work 2 weeks ago and really want to keep my home. I am unable to borrow any money from anyone or any bank so that is not an option. I need to find a way for the bank to work with just my partial payment. Any advise would be much appreciated. You can bet that I will be on the phone with US bank loss mitigation team everyday until 4/28 if we can not come to an agreement

Should I try and contact the law firm to see if they will accept the partial payment? or should I only work with US bank!!

Any help would be much appreciated. THANK YOU!!

Re: Foreclosure Sale date notice received

Heavanly1 — Sat, 26 Feb 2011 20:20:21 GMT

I'm not sure I can answer your question but your circumstances left me with a few questions.

You said that you currently owe $9k on your mortgage, which is 6 months past due. That means that your monthly payments are $1500 a month, correct? Yet, you have $3k to apply towards the mortgage as a partial payment. Will you be borrowing this $3k or is it simply in your savings? If it's the latter, that's two months of payments that you could have made but didn't?

Secondly, will you be making enough money at your new job to cover your morgage and living expenses?

I think you should definitely start by speaking with a HUD counselor to see what your options are.

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Foreclosure Sale date notice received

Re: Foreclosure Sale date notice received