If you have an FHA loan and behind in payments but not prevent your bank may take poss. the house.?

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Applied to short selling and has been dismissed because too much negative equity in the home. It is not in foreclosure and less than 3 months behind in payments. It has not been established Sherriffs sale. And the mortgage company never contacted me to tell me that they would be the possession of the house. My relator contacted me and told me they called them take their post box outside the door because they changed the locks and the house for winter. The mortgage company this morning can not know why they did it. There are no comments on my file, and it has even begun to address a note read. The house is still my responsibility and what should I do here.

  1. Reply
    BOB H
    May 2, 2011 at 2:42 am

    everything you are fearing would be done by giving you notice first. i would contact your lender and make arrangements to get yourself back on track. options may be to defer a couple of those payments to the end of the loan. anything can be better than letting it get foreclosed on. the most important part is to keep talking to your lender and make sure they know you are making an attempt to catch everything up and get back into a more structured situation. don’t wait.

  2. Reply
    Business Mom
    May 2, 2011 at 3:19 am

    this is where it comes in handy to work with a local institution. i would go to the bank and have a discussion with them.
    if you haven’t been served a NOD (notice of default)…then i would wonder also what is going on. but if a NOD has been filed…you are in the midst of a foreclosure (whether you are aware or not)…so find out first if a NOD has been filed.
    you can check with at the county courthouse records.

    but also speak to your bank.

    here is a link with state laws and timelines for foreclosures
    hope it helps


    good luck 🙂

  3. Reply
    May 2, 2011 at 3:42 am

    That house is yours until the day it is auctioned off in a sheriff’s sale or they accept from you a deed in lieu opf foreclosure.

    Somebody jumped the gun here and in doing so they may have violated your rights as a borrower. I assume that your Realtor was aware of the short sale situation so the fact that the lender contacted them may not be a violation but if they so advised a locksmith or vendor who does the winterizing, they sure did. Sounds to me like someone at your lender’s had a case of “brain fade”. Someone assumed that because they denied your short sale the property had to be either in foreclosure or already foreclosed. Find out who talked to your Realtor. They blew i

  4. Reply
    May 2, 2011 at 4:32 am

    Wait a minute and take a deep breath……..

    Are you trying to sell your home to stay out of foreclosure? You state that you are not in foreclosure but your lender has contacted the realtor to take off her lockbox which means that the lender is wanting to take back your home. You say that you are behind less than 3 months? Are you sure about that?

    There are so many red flags here its scary!!!!!!

    What are you not telling us?

    We need more information so that we can help you better. Foreclosures can be stopped but if your not telling us the whole story than I’m afraid you might be on your own.

    Can you email me or answer here so other may be able to help too?

  5. Reply
    May 2, 2011 at 4:57 am

    Call 800-CALL-FHA.

    Talk to someone at the FHA office. FHA requires lenders attempt work-out plans whenever possible on their loans. If your lender isn’t doing it right, maybe they can help.

    They can certainly set you up with some financial counseling as well.

  6. Reply
    May 2, 2011 at 5:50 am

    there is a lender who will refinance your fha loan through the fha streamline process regardless of your payment history as long as you are current at the time of closing. if your rate is high right now, you might be able to benefit. if you can get yourself caught up in payments, find a mortgage broker who is licensed fha and has a brokering relationship with m&t bank. the refinance will allow you to skip a payment (potentially) and get your current escrow account refunded back to you (potentially). it all depends on how long you had your current mortgage, what your current rate is, and your loan amount.

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