How do you know what stage of foreclosure your house is in?
Question : How do you know what stage of foreclosure your house is in?
About two years ago my boyfriend filed for divorce. His house is in his name but is ex-wife was court ordered to make the house payments until it sold. 6 months later during there mediation, he found out she hasn’t made any payments. The judge ordered her to right an affidavit stating that she was supposed to make payments but didn’t, but really all that effects is my boyfriend. Well his house has been in the process of foreclosure i think for quite sometime but his mortgage company calls to ask for house payments and when he explains things to them they say ok and hang up. Noone is telling him what is going on. Is there anything we can do to hurry up the process?
staging your house to sell
Best answer:
Answer by foreclosurefish_com
The best first step would be to contact the lender or mortgage company. You will need to provide borrower authorization and it will help to have the loan number ready. Depending on how far along the property is towards the foreclosure process, you might need to speak to someone in the “Loss Mitigation” department. When a property is behind 3-6 missed payments to its primary lien holder pre-foreclosure proceedings will typically follow. If there is no attempt to repay the past due amount to bring the loan balance current, homeowners can be served with a foreclosure notice. You also may be able to work out a “loan modification” with your bank.
Yes, he can sign a Deed In Lieu of Foreclosure today and the bank will own the house. Or he can write a letter to the bank saying that he will not contest the foreclosure and for them to proceed as fast as possible.
You can not really know what “stage” of foreclosure you are in. The banks are taking 12 months to do what they used to do in 3 months..