Foreclosure/reinstatement

[mommygirl]

My bank has just foreclosed on my home. I've requested a reinstatement, but it will take a few days. I know I have to pay the amount in arrears. How much time do I have before that money is due? What else can I expect?

 

[army judge]

My bank has just foreclosed on my home. I've requested a reinstatement, but it will take a few days. I know I have to pay the amount in arrears. How much time do I have before that money is due? What else can I expect?

Have you received a foreclosure letter, or has a judge adjudicated the matter?

A letter isn't foreclosure. The letter merely puts you on notice that a foreclosure proceeding will be commenced.

If all you've received is a letter, you have 4-12 weeks before you see a judge. Further information will follow the letter and communication from the court and service by the sheriff.

 

[mommygirl]

Have you received a foreclosure letter, or has a judge adjudicated the matter?

A letter isn't foreclosure. The letter merely puts you on notice that a foreclosure proceeding will be commenced.

If all you've received is a letter, you have 4-12 weeks before you see a judge. Further information will follow the letter and communication from the court and service by the sheriff.

I never received a letter. I was informed when I called the bank. I have received other correspondence that my loan was in default, etc., but have not received correspondence via mail that it is in foreclosure.

 

[army judge]

I never received a letter. I was informed when I called the bank. I have received other correspondence that my loan was in default, etc., but have not received correspondence via mail that it is in foreclosure.

You might wanna speak with an attorney. You'll probably be getting served sooner, rather than later.

Bankruptcy might be an option. It has it's drawbacks. But, it can help. Speak with an attorney, if you wanna save your home.