“Dear Steve,
I fell behind on my mortgage payments then I stop paying my mortgage payments and let things get worse.
I fell behind in my mortgage and then gave up and stop paying it. I’ve been in foreclosure for about ten or more months. In a few weeks there will be a court case not sure if it will be final but i was served papers from the bank ten months ago or so. Can I stop all this and keep my house or is it too late now that i woke up and want to fix this mess?
Please help me if you can, thank you.
Jason”
The Answer:
Dear Jason,
The biggest issue we need to deal with after ten or more months of avoiding dealing with this is how much time you really have left.
I suspect that you don’t have a lot to enter into a long protracted negotiation process. You have three options:
Call The Lender Directly
You could call the lender directly and see what options they have to help you reinstate the mortgage.
Call a HUD Approved Housing Counselor
You could discuss your case with a local housing counselor and see what options they may have for you. You can find one online here.
You Could File Bankruptcy
You could talk to a local bankruptcy lawyer to see how a chapter 13 bankruptcy can protect your house and get you back on a payment plan to repair the delinquent mortgage situation.
Please come back and let me know which option you choose and what the outcome is.
Steve
The Answer: