Well,........... My research turned out to be right. Our Lender has started the Foreclosure process. Missouri really is a Quick Foreclosure State
Our payments were due the beginning of each month with a grace period until the 15th of the month. We didn't make January or February's payments, and today, in the mail came the
Notice of Default and Acceleration
The letter is dated February 16, 2006, and we have 30 days from the date of the letter to pay up or "Cure the Default" as the letter states it. Funny thing is, that falls on a Saturday.
I called the new 800 number that was on this letter and spoke with a Rep in the Loan Counseling Center. I told her about calling a different dept last week. Rep put me on hold while she read the notes from my call last week. She was in a very busy call Center. I could hear phones ringing and people talking in the background. Sounded like the Rep had a guy in her lap talking to someone else on another phone telling them he needed over $3000 to stop their Foreclosure. I had trouble hearing her due to the noise, so I can't imagine how she hears people that call in.
The latest Rep gave me the same run around as last week. Made a pitch for money. Told her we don't have any.
Their offered a HELOC to help bridge the gap and pay the deficit. I almost choked!!
Finally she asked what we wanted for them to do. I asked if they could wait. All we needed was for them to wait. Give us a little time for our buyer to sell his house, so he could buy ours. Buyer financing is not a problem. He can even carry a swing loan if we get another offer that activates the kick out.
Nothing they can do.
So I call the Real Estate Agent. Tell her about the letter and my phone call. She is just incredulous. She's never seen a Lender move so quick to Foreclosure like this. Especially with a bona fide offer on the table. She calls a "friend" of her's on the inside with our Lender. Gave him all the info to check into it for us. He called our REA back and said nothing can be done. The REA even offered to try and bring our buyer over to finance with our Lender. No go. He told her, if we have any assets at all, to sell something and cough up the money quick to stop the Foreclosure from moving forward. I told our REA there's nothing left. We are broke. We cashed in Hubby's retirement IRA to pay off a HELOC last year and we've run thru our personal savings.
The Realtor offered to lend us the money we needed out of her own pocket to stave off the foreclosure. She said we could pay her back out of the proceeds when the house closes. That was soooo sweet. But, of course, we said No.
Our Lender is a Butt, but now we know our filing time frame. Gotta get all our paperwork together and get ready to file by the middle of next month. We knew it was coming but it still sucks. We won't even make 90 days since the last charge.
Our payments were due the beginning of each month with a grace period until the 15th of the month. We didn't make January or February's payments, and today, in the mail came the
Notice of Default and Acceleration
The letter is dated February 16, 2006, and we have 30 days from the date of the letter to pay up or "Cure the Default" as the letter states it. Funny thing is, that falls on a Saturday.
I called the new 800 number that was on this letter and spoke with a Rep in the Loan Counseling Center. I told her about calling a different dept last week. Rep put me on hold while she read the notes from my call last week. She was in a very busy call Center. I could hear phones ringing and people talking in the background. Sounded like the Rep had a guy in her lap talking to someone else on another phone telling them he needed over $3000 to stop their Foreclosure. I had trouble hearing her due to the noise, so I can't imagine how she hears people that call in.
The latest Rep gave me the same run around as last week. Made a pitch for money. Told her we don't have any.
Their offered a HELOC to help bridge the gap and pay the deficit. I almost choked!!
Finally she asked what we wanted for them to do. I asked if they could wait. All we needed was for them to wait. Give us a little time for our buyer to sell his house, so he could buy ours. Buyer financing is not a problem. He can even carry a swing loan if we get another offer that activates the kick out.
Nothing they can do.
So I call the Real Estate Agent. Tell her about the letter and my phone call. She is just incredulous. She's never seen a Lender move so quick to Foreclosure like this. Especially with a bona fide offer on the table. She calls a "friend" of her's on the inside with our Lender. Gave him all the info to check into it for us. He called our REA back and said nothing can be done. The REA even offered to try and bring our buyer over to finance with our Lender. No go. He told her, if we have any assets at all, to sell something and cough up the money quick to stop the Foreclosure from moving forward. I told our REA there's nothing left. We are broke. We cashed in Hubby's retirement IRA to pay off a HELOC last year and we've run thru our personal savings.
The Realtor offered to lend us the money we needed out of her own pocket to stave off the foreclosure. She said we could pay her back out of the proceeds when the house closes. That was soooo sweet. But, of course, we said No.
Our Lender is a Butt, but now we know our filing time frame. Gotta get all our paperwork together and get ready to file by the middle of next month. We knew it was coming but it still sucks. We won't even make 90 days since the last charge.
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