When to really worry

[sal]

Hi, we are 3 months behind on our 1st and 2nd mortgage totalling about 1k monthly.
We just recieved a letter from our 1st mortgage co, usbank, that unless we pay up to current we are going into forclosure, is it that easy for them?
We are attempting to contact them for some kind of mod but they say we have to be current.
What should we do?
We are planning ch13 sometime in the future as well.
Thank you so much

[StartingOver08]

Yes, once you hit three months - the next notice is a formal NOD (notice of default).

I am surprised they said you have to be current for a modification. Usually the lender says you have to be 90 days or so behind for a mod!

Have you actually spoken to a loss mitigation counselor yet (at the bank)?

[rainelli]

well I guess you have to send them a letter....