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Debt Relief – Insolvency – Bankruptcy Information » Foreclosure Help » How should my family deal with the date set for court because of our house is about to be put on foreclosure?

How should my family deal with the date set for court because of our house is about to be put on foreclosure?

our mortgage company wants to put our house on foreclosure

and my parents arent sure what to do.
any help please?

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3 Responses to "How should my family deal with the date set for court because of our house is about to be put on foreclosure?"

  1. SatinGun says:
    The home will be going INTO foreclosure.

    If your parents already have a “Notice of Default” and there is a date set for foreclosure, they need to either contact an attorney, contact the lender’s modification loan department, or file bankruptcy (Chapter 13) to TEMPORARILY stop the proceedings. An attorney is advised in any case.

    Otherwise, everyone needs to begin to pack the possessions, because following the day the home gets foreclosed, the local sheriff will show up at the doorstep to evict the family.

    It is a difficult time for everyone but the lender. Be very leary of “equity” lenders contacting your parents to “help.”

  2. Ed Atun says:
    On the day of the foreclosure, the bank owns the house. That is because your parents did not pay the money to the bank. You don’t want to stay in a house that you don’t own, so start packing.
    The one big thing you have to watch for….. is sometimes the bank stops the foreclosure at the last minute. If that happens, you might as well sleep at the house. But get all of your big possessions into storage or at a friend’s house. Once the sheriff knocks at the door, you want to be ready to move in 1 hours notice. A foreclosure is bad for your parents’ credit, but a foreclosure and an eviction will really hurt them later. Don’t make the sheriff evict you..
  3. D says:
    The best thing to do is call the mortgage company and see if they will work with you. See if there is anything they can do. The mortgage company will be the one to tell them.
    I have foreclosed on houses for over 8 years and trust me, they want the money THEY DO NOT WANT THE HOUSE. If they have income they can work out a plan for them to pay the back amount in most cases! See what they are willing to do.
    Also look into the goverment programs that are going on right now to get out of foreclosure.
    Educate yourself, knowledge really is power and be persistant.

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