I need a little advice. My mother has been going through some financial trouble, and has recently applied for mortgage modification three separate times through her mortgage company. Each time, the mortgage company denied her application. Their stated reason was always that she was in no danger of default.
The first time she applied, she was current on her mortgage. But, she knew that she was going to fall behind soon.
The second time she applied, she was 53 days past due. Again, they denied her application, telling her that she was in no danger of default.
The third time she applied, she was more than 90 days past due. To date, she has not gotten a response on the third application. But the mortgage company will no longer return her telephone calls or emails.
Now, she has received notice from the mortgage company that they have begun foreclosure proceedings. She rushed to put her house up for sale, hoping to salvage some of her equity before the bank takes it away from her. She has still not been able to get any further information from the mortgage company. Her realtor, through repeated phone calls, has managed to get a tentative court date in the first part of December.
My question is, does any of this seem sketchy to anybody else? I don't understand how the mortgage company on one hand can say that you're in no danger of default, while on the other hand, right across the hall, they're suing you for foreclosure.
I would appreciate any input you can offer. While this is not my problem yet, if my mother loses her home, it's going to be my problem real fast.
The first time she applied, she was current on her mortgage. But, she knew that she was going to fall behind soon.
The second time she applied, she was 53 days past due. Again, they denied her application, telling her that she was in no danger of default.
The third time she applied, she was more than 90 days past due. To date, she has not gotten a response on the third application. But the mortgage company will no longer return her telephone calls or emails.
Now, she has received notice from the mortgage company that they have begun foreclosure proceedings. She rushed to put her house up for sale, hoping to salvage some of her equity before the bank takes it away from her. She has still not been able to get any further information from the mortgage company. Her realtor, through repeated phone calls, has managed to get a tentative court date in the first part of December.
My question is, does any of this seem sketchy to anybody else? I don't understand how the mortgage company on one hand can say that you're in no danger of default, while on the other hand, right across the hall, they're suing you for foreclosure.
I would appreciate any input you can offer. While this is not my problem yet, if my mother loses her home, it's going to be my problem real fast.