Intent to Foreclose versus Notice of Foreclosure

[lostnworried]

I noticed that I keep getting a Intent to Foreclosure letter whenever we are 2 months behind on our mortgages. However, we are currently on a special Forebearance Payment Plan with AHMSI so I had hoped those letter would stop but I was told that those are form letters that are generated by the computer and cannot stop until we catch up on our payments. When should I start to worry about those notices? How can I tell the difference between an Intent to Foreclose letter and an actual Notice of Foreclosure? My biggest fear is that I keep ignoring the usual intent letters and not notice when they actually send me the Foreclosure notice. I know it is not supposed to happen while I am on a special repayment plan but I also know that mortgage companies make mistakes all the time. Can anyone tell me the difference?

[Evan Bedard]

When should I start to worry about those notices? How can I tell the difference between an Intent to Foreclose letter and an actual Notice of Foreclosure? My biggest fear is that I keep ignoring the usual intent letters and not notice when they actually send me the Foreclosure notice. I know it is not supposed to happen while I am on a special repayment plan but I also know that mortgage companies make mistakes all the time. Can anyone tell me the difference?

Well yes its true that these letters are automatically sent to borrowers who are behind on their payments. You need to watch out for a Notice of Default (NOD) or a Notice of Trustees Sale (NTS). Either of these letters means that foreclosurwe proceedings have begun, NOD you will still have time before a foreclosure date is set. An NTS means that they already scheduled a foreclosure date and it will give details on the notice...

[irishmom]

Lost,

If AHMSI actually files a foreclosure case you should be served by a sheriff with mortgage foreclosure summons and a complaint to foreclose mortgage (at least that is the way it is done in IL).

Also please be aware of AHMSI3's (Yup . . they changed their name and added the 3 at the end probably due to all the bad publicity and multiple lawsuits they are fighting in about six states due to their unethical practices) scare tactics. When the speak to you and demand payment which will included outrageous fees tacked on they will tell you that they have a foresale date in their computer for whatever month. This is fictious and ment to scare you into making a deal with them. Unless they have actually filed the foreclosure case in court their sale generated computer date means nothing and is just ment to scare you. Good luck as you will need it. I have been dealing with this co and their reps for 2 years and they are horrible, unethical and abusive to their customers.

[lostnworried]

Thanks Irish.....I am so concerned about foreclosure so I want to make sure I am not missing anything. I have a really nice negotiator who helped me into the current payment plan I am on. He has also checked on the status of my loan periodically whenever I am panicky to make sure that there is no active foreclosure proceedings in place. I am keeping all my email correspondence with him so I have proof in case I get the Foreclosure notice. Thanks for explaining the difference between the Intent to Foreclose and the Notice of Foreclosure. We really never thought we would be in this situation but the economy is just getting worse. My husband has been out of work for 9 months! Good luck to everyone and hope 2010 is better for us all.