Foreclosure Help?

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We called our mortgage company several times to help a payment plan or pattern loan but they said they could not help us. We then caught behind on our mortgage for 3 months. We had to send partial payments. We called our mortgage company to find out why they make our payment this month did not and they said they could not accept a partial payment because we are in Forclosure and there was nothing to do. We had to pay for electricity ($ 3,900) Two days later, we are called, the balance … (Ready to parents) to pay. We were told they would not accept it when we pay our $ 2000 paid in legal fees. We never received any mail telling us of foreclosure or a letter of counsel, until we find it all. Now we suddenly have $ 7,400 by the end of 30 days for legal fees, inspections, reviews, ect. Nobody will help. (Not even the Department of Veterans Affairs) We have the money to date. Should we contact a lawyer? Why fees are so high after only a week ago pending BY PHONE? We have Investors Mortgage Corp. (MIC) for GMAC loans guaranteed by VA)-I know it’s my fault I’m in this situation … We had financial difficulties, once we were late, we could not be on the payment history and we really want just stay in our house. Just need advice. Dank.Dies Ohio

  1. Reply
    February 8, 2011 at 3:31 am

    The states have different requirements for proceeding with foreclosures. Some legislatures have adopted stringent notice requirements with built-in waiting periods before a lawsuit to foreclose on a mortgage can be filed.

    Without knowing where you live and what sort of communications you’ve been receiving, neither I nor anyone else can tell you whether those requirements have been met. If you do live in a judicial foreclosure state, however, it doesn’t sound as though you received valid notice at all.

    Consult with an attorney in your area ASAP.

  2. Reply
    Kevin Williams
    February 8, 2011 at 4:03 am

    Most foreclosures in Ohio are processed by judicial (in court) which is a good thing. You are able to put a motion before the court challenging the fees and the lenders cost to foreclose. You can also request a settlement conference through the court to sit down with the lender face to face and discuss the high fees. the lender is required to itemize the cost to foreclose if requested by the borrower.

    If the lender is unfairly racking up fees then a complaint should be filed with the local district attorney as well as cc a copy to the bank president as will as filing a complaint with the District Attorney and your local council person. Keep a phone log of your communication and start off every conversation with a request for a full name and id number. If they refuse to give you a last name then request to know where the office is located for your records or a supervisor’s name.

    If you need additional information please contact me directly through Yahoo answers

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