Here is the gist of things.
P&I of mtg. payment has NEVER been late. Mtg. company paid our taxes in 2012….they never added to our payment for that and I guess I just played dumb and assumed they’d add it in our payoff someday. So Feb. 2013 they added an escrow acct. to our payment which increased our pmt by 298.00 a month. I didn’t know this cause I kept sending in the normal P&I every month and they kept taking it. In July/Aug. of 2013 I get a letter that we are behind… I quickly hunt up all my cancelled checks and fax them over… didn’t hear any more about it. Dec. 18th my DH opens a letter from an atty that we are being foreclosed on.
I’ve been on the phone with the atty and the lender every day since that day. Going over the situaion, going over our previous PERFECT mtg. history… yada yada…. Ok, final question, how do I clear this up…….. answer……. send them certified funds for 5865.00 (includes 1300.00 worth of atty’s fees). I explain, I don’t have that much, but I can send you 4000.00 today… that would EASILY bring it to a non foreclosure status and then we’ll get on track with the payments again and work with your repayment specialist.
NO NO NO NO NO NO… I’ve been told no by everyone exect the cleaning lady. It’s all or nothing. They have sold our loan to another company and they want the loan totally current including atty costs or they want it in foreclosure (that makes NO FLIPPIN SENSE TO ME).
I call the new company that takes our loan over this coming tuesday to see if I can talk common sense with them. Having a loan on your books that is 30 or 60 days late is much better than a foreclosure. Especially with the market… our house would sell for MAYBE 90k currently and it was 160 just 18 mos. ago when I had it appraised. The new company has no interest in allowing us to reinstate the loan…. however, they’d like to just foreclose on it and then sell it back to us at the current market value of 90k (we currently owe about 125 so they are tring to tell me it would be like making/saving 35k)……… HUH? What lender in their right mind would finance us at this point with you people showing us in foreclosure?
I’m calling my original lender in the morning to see if I can get to someone that took some common sense meds before coming to work. Then my next call is going to be to a few attorneys to get an idea of where I stand. The foreclosure sale date is set for the 2nd. tues. in Feb.
If anyone has knowledge of GA foreclosure laws, QUALITY attorneys in metro Atlanta or any other solid advice I surely would appreciate it. I am just baffled that in an economy of massive foreclosures from peolple that absolutley can’t pay for the house that I can’t get someone to work with me over a screw up.
Thanks in advance for any and all ideas, helps and prayers!