1) Why were you told the house would foreclose if you were current with the mortgage payments?
2) Is the Chapter 13 still in progress?
The Chapter 13 is still in progress. we have 3 years left to pay. we have paid 2 years.
We contacted the mortgage company to try to try and get our interest rate lower and modify our mortgage so we were not so strapped. They told us there was nothing we could do until we were 4 months delinquent. Then we were told house would foreclose and there was nothing they could do and we needed to vacate. so we did now we received papers stating house in going into foreclosure but if we pay the 4 months we can have house back. I feel like we were scammed. they said couldnt do anything cause of the chapter 13. so now what to do.
What you described happens frequently. What did you do with the money for the mortgage for the 4 months you did not pay it?
It is too late now, but you did not have to move. Homeowners who are in the process of foreclosure do not have to move until the house is actually sold at an auction - which can take years. However, even though you move out, you do have the right to move back in, whether or not the bank works with you.
In any event, under the circumstances, the bank can - but does not have to - add the 4 months' payments to the end of the mortgage period.
I think this is what you wanted to know. If not, please let me know.Thank you!
Thank your for accepting my answer! And thank you for the bonus!
You can move back into your home - as it is still yours - whether or not the bank will work with you. If the bank will not work with you - if they will not allow you to add the 4 months to the end of the mortgage - you can live in the home until the house forecloses - until it actually sells at an auction.
Under the circumstances, it would be foolish of the bank to not allow you to add the 4 months payments to the end of your mortgage, especially since the only reason you withheld those payments was because the bank told you to.
thanks for your assistance. hope all works out
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).