Received a letter today from the banks lawyer today that they intend to foreclose on our house for being 3 months behind. We had made payments here and there on the first mortgage over the last 7 months because hubby has been hurt and can't work. They say that we have 30 days to pay the balance before they start the process, which I have already told them that he will be back to work in one month but that will not give us time to pay the full balance.
So what are our options? The lender is not answering my calls at this point and they are mad because we filed bankruptcy a year ago and refuse to reaffirm because the house is worth 1/3 of our loan. We would rather stay for now instead of trying to move. In Michigan if we pay one payment will that hold off the foreclosure?
Also they sent us a packet for the state housing authority, will they help us any or will they force us into Chapter 13?
Thanks!
So what are our options? The lender is not answering my calls at this point and they are mad because we filed bankruptcy a year ago and refuse to reaffirm because the house is worth 1/3 of our loan. We would rather stay for now instead of trying to move. In Michigan if we pay one payment will that hold off the foreclosure?
Also they sent us a packet for the state housing authority, will they help us any or will they force us into Chapter 13?
Thanks!