What to do if you are so behind on bills and is in start of foreclosure on your home?
Nov 20, 2009 in
Personal Finance
DKH
We are trying to work with the mortage company but not being able to get hold of someone after we wrote hardship letters like they said. Now, we have recieved a letter from lawyer for foreclosure. Someone mention Bankurbcy<
We are trying to work with the mortage company but not being able to get hold of someone after we wrote hardship letters like they said. Now, we have recieved a letter from lawyer for foreclosure. Someone mention Bankurbcy<
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6 comments
Thamiline P on November 21, 2009 at 3:31 am
reduce your spending or borrow money off a frend
Debt Slayer on November 23, 2009 at 9:24 am
You need to sell the house because you can’t afford it anymore. Move into an apartment with low rent until you can recover and buy another home.
robert w on November 23, 2009 at 6:44 pm
visit dave ramsey.com for common sense approach to ur challenges.
u’ll learn hard lessons from others challenges.
lisa on November 25, 2009 at 2:39 pm
Well, there are a couple of things you can do. If you want to keep your house you could file a chapter 13 bankruptcy and that would allow you to pay the back mortgage payments (and any other debt) over a period of time. If you want to let the house go, file a ch. 7. It takes about a year (usually – sometimes even longer) before they have the foreclosure sale (you will get a summons and complaint in the mail and about a month later a notice of sale).
snakeman11426 on November 26, 2009 at 4:13 pm
You could call one of those debt consolidation companies.
DCK2003 on November 30, 2009 at 2:44 am
You need to find a legitimate credit counseling service immediately. Bankruptcy may be your only option however, if you choose or are recommended for bankruptcy you would need to meet with a credit counseling service anyway. Time to take step one.