Solution to foreclosue of home owned for 20 years, hfc will not accept payment and are threatening foreclosure

Question

Solution to foreclosue of home owned for 20 years, hfc will not accept payment and are threatening foreclosure

Answer 1

Try to talk with your mortgage company and work with them on some repayment plan. If this doesn'thelp- use loan modification company.

Answer 2

The house is just about paid off.   They can not refuse FULL payment.

Since you own a ton of equity you might try to get a small loan to catch you up.    With 10 or less years left to pay it off you need to get it up to date.

Answer 3

??

I don't understand; are you saying you wish to make partial payments?

NO lender is required to accept Partials.

Answer 4

  you owned the home for 20 years--  how many years left on mortgage? how many payments are you behind on? there are lots of variables here that will determine your best course of action-

Answer 5

Sounds like maybe your bank already started the foreclosure process.  Once that has started they can typically no longer accept payments.  If thats the case then I would have to agree with the approach to find an investor and seek a win/win to lease back your home.

Answer 6

one way would be to possible look at getting an investor to purchase the home then do a lease purchase option back to you, that way you stay in the house and will eventiually have the opertunity to purchase it back. You can try to work out a deal that benefits both parties. I recommend visiting www.deangraziosi.com and enter the forums there, you can ask about this there and you will get a ton of answers from other home owners that have done this or investors that do this on the daily basis