[rickp703]

Hello - 1st, I am very grateful to have found this forum, and hope that I can benefit from others knowledge - Thanks to everyone in advance!

My mortgage is currently serviced by Litton Loan (since early 2008). Right now I am currently owing approx $14K for my payment due April 1, May 1, June 1, and now July 1st as well. They have sent me a notice of default / Intent to Accelerate, which when I spoke with them the other day (regarding the loan modification in house) they have advised me I need to make a payment by July 17th in order not to have my file forwarded to the Foreclosure dept - I guess 7/17/09 represents 45 days from the date of the notice.

I had applied for a loan modification back in April and according to Litton Loan on 7/6/09 was denied the mod "Because I do not meet the investor guidelines". A letter was sent (according to them - in the mail) on 7/6/09 with the reason for the denial (which I cannot figure out why I do not qualify). I do not have the letter yet, so I'm unsure on the reason.. BUT I was told that I could re-start & re-apply for a modification as criteria change & I could be approved in the future (a long time down the road again, I'm sure). and of course, I am now going to use this great forum for advise on how to better handle the mod process.

Here is my question.... I really don't have the funds to pay a payment by 7/17; but would have the ability to pay (1) payment on 7/24. I want to be as proactive, but I'm worrried about my file being sent to foreclosure after the 7/17 date.

Here are my questions.

1. Are companies still forwarding files to start foreclosure, as I thought in Illinois there was a longer hold (especially when you are applying for a modification)

2. If my file does go to the Foreclosure dept & I make the payment on 7/24/09, will it come back out of that dept (I have a feeling once it's there - it stays there until the situation is corrected beyond just (1) payment)

3. In addition to applying for the Loan Mod... what else can I do to keep myself out of the Foreclosure area of litton loan... a special forebarence ... or at least a 1 week "stay" to get that payment in.

Thank you so much to everyone for your kind thoughts in advance... My goal is to save my home & I'm getting ready to gear up for the fight ! - Thanks again