I received a final letter from my mortgage company telling me I have to pay 3900.00 by 06/07/2012 or they will start forclosure I'm not in forclosure yet. I just came out of bankruptcy and I have just applied for a hardship loan from my 401 K. I will have 2500.00 if I get my 401 k hardship including the extra I can pay out of pocket and the actual money due just on just the mortgage payments is 2500.00 will I be Ok and will they accept this?
State/Country relating to question: Indiana
Researching on the internet.
They should. Call them right away. Start with a modification now too. YOu might get them to lower payments, interest or principal. You can discuss your plan and the payments you plan to make. You will need to get the mortgage payment in by the 7th to stop the foreclosure, which will generate further costs for you. If 2,500 is the mortgage amount, what is the extra 1,400 for? Seems like more than penalties. If it is just penalties, they will hold on that for now.
The other fee's say late fee's and other fee's. We where behind whe we went into bankruptcy and we actually just got the letter that said we are completely cleared of the bankruptcy and then all of this started coming. I am so confused.
I did call today and they said we may be able to do a repayment plan as well but I am not sure what to do. I applied for the Harship because I figured this was the fastes way to get rid of the problem but the new letter today said 3900.00 and on the statement it says 6 payments past due which is 2500.00
You better call again and make sure about the number. Usually, if you are less than 3 months behind, they will stop foreclosure. By making four payments, you will be two months behind which will buy you a little time. Should be fine, but double check to be sure and tell them when you think you can make the payment. Also, get rolling on the modification.
Ok will do and thank you!
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