I married a woman who had her home on a loan modification shortly after our marriagethe bank declined her further participation in the loan modification and since she was onlypaying interest only the bank stated we now accured another 47,000 in debt. We havepaid the full mortgage amount each month and the bank continues to accept our monthlyhowever now the bank is threatening foreclosure. My question is as soon long as the bankaccepts 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.
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 processhttp://www.foreclosureradar.com/ca-foreclosure-processThe timelinehttp://www.all-foreclosure.com/help/timeline.htmGood luck.Dimitry Esquire41036.1732522801