Loans, Debt & Credit - View Single Post - acceleration warning/notice of intent to foreclose

exhausted girlfriend · 11-07-2009, 12:01 AM

c150000,

Try being in arrears 75,000. We went 18 months without paying mortgage till we started the trial mod payments May 1, 2009. Talk about pressure. Seriously, the only way i was able to carry on and get through this was to trust the Lords will for this situation and know that because He loves me, i will be content one way or another. I am thankful that we were able to work things out with the house, but i fully trusted that if not, we would be happy anyway.

I understand that even if a borrower is under modification review, they continue with foreclosure actions, but will not set an auction date. So, they go through all of the steps leading up to an auction date then halt. Unfortunately, this is designed such that they can easily resume foreclosure action. This could leave you feeling quite vulnerable as you were not in foreclosure status when you started this trial program. I would recommend you save the other half of your mortgage yourself, for your own piece of mind. Looking at your case and how you were only 1 month late, i doubt you will be dishonored by Chase. I believe if you do what others arent willing to do, you will be successful. As litehouse says, a lot of people have not continued paying the trial payments after 3 months, and/or didnt pay on time. Just be professional, understanding, eager, and diligent and I think you will get what you need out of this opportunity.

11-07-2009, 12:01 AM	#15 (permalink)
exhausted girlfriend Senior Member Join Date: Oct 2009 Location: Florida Posts: 622 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: acceleration warning/notice of intent to foreclose c150000, Try being in arrears 75,000. We went 18 months without paying mortgage till we started the trial mod payments May 1, 2009. Talk about pressure. Seriously, the only way i was able to carry on and get through this was to trust the Lords will for this situation and know that because He loves me, i will be content one way or another. I am thankful that we were able to work things out with the house, but i fully trusted that if not, we would be happy anyway. I understand that even if a borrower is under modification review, they continue with foreclosure actions, but will not set an auction date. So, they go through all of the steps leading up to an auction date then halt. Unfortunately, this is designed such that they can easily resume foreclosure action. This could leave you feeling quite vulnerable as you were not in foreclosure status when you started this trial program. I would recommend you save the other half of your mortgage yourself, for your own piece of mind. Looking at your case and how you were only 1 month late, i doubt you will be dishonored by Chase. I believe if you do what others arent willing to do, you will be successful. As litehouse says, a lot of people have not continued paying the trial payments after 3 months, and/or didnt pay on time. Just be professional, understanding, eager, and diligent and I think you will get what you need out of this opportunity.