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I married a woman who had her home on a loan modification shortly

 

Customer Question

I married a woman who had her home on a loan modification shortly after our marriage
the bank declined her further participation in the loan modification and since she was only
paying interest only the bank stated we now accured another 47,000 in debt. We have
paid the full mortgage amount each month and the bank continues to accept our monthly
however now the bank is threatening foreclosure. My question is as soon long as the bank
accepts our full monthly mortgage payment can the bank forclose on the home?

 

Optional Information:
Country relating to Question: United States
State (if USA): California

Already Tried:
We are considering short sale however this is not our preferred course of action we would rather keep the home.

Submitted: 347 days and 18 hours ago.
Category: Real Estate Law
Value: $38
Status: CLOSED
Picture
Expert:  Dimitry Esquire replied 347 days and 18 hours ago.

Thank you for your question.

In California the timeline is about 4 months from the date that you receive your first foreclosure notice. The process can take longer, as you can also appeal and attempt to delay the process, but this is generally the most streamlined and fastest period. Here is the link where you can review the process for yourself:

The process
http://www.foreclosureradar.com/ca-foreclosure-process

The timeline
http://www.all-foreclosure.com/help/timeline.htm

Good luck.
Dimitry Esquire41036.1732522801

 
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