Laid off while on forbearance

[florida1976]

I need some advice on what to do.
I am currently in foreclosure with sale date for October.
I received a forbearance agreement reducing my payments by about 700 dollars. Unfortunately I just got late off. I will not be able to make my first payment on time.
What should I do. Should I contact my negotiator and let her know the deal before due date. First payment is due on Sept 14th.
I am affraid she will not work with us...and just sell our house
We have children.

Very stressed.

[ama125]

I would call and tell your negotiator. I have seen some reports of people getting a forbearance with zero payments to buy the borrower time to find a job. You could always ask for that option. Have you signed up with NACA? I can't attest to them personally, but they may at least assist you in postponing your sale date. If you don't know who the investor/lender is, try to find out as they may have special programs that your negotiator may not be aware of. Also check into your state's homestead exemption laws. I haven't looked into that too deeply (just enough to learn that my state does not have one!). I know I've read from others that Florida does. You could also contact a local HUD office to see what they may be able to do for you. I applied for a special emergency loan at my HUD office and just by applying for it, was able to postpone a sale date for 90 days (and bonus, I got approved for that loan!). Lastly, you have bankruptcy as an option. It may not get you a modification, but it could tie things up and postpone a foreclosure. I hope one of these avenues proves to be helpful! Sorry to hear of the job loss...hang in there and stay strong!

[florida1976]

I will try these options. I have Bank of New york as investor. I also have Melissa Henderson as negotiator. She is tough. Therefore I am affraid to call her. I will have to since the due date is approaching. I was hoping to find work fast but it appears base on the market, it may take longer.
Thanks again for the advice.