I have never turned their backs on a mortgage at the national level, what will happen?

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I do not pay my mortgage for about 6 months. I heard that if I am not available at the national level, they can not function forclosing my house. Is this true? I think it is a country are trying to contact me by phone and by mail, but I ignored it.
I try to buy a house before CA. Sellers says the contract I signed the funding period of 10 days in “loan commitment” in advance by the mortageg or deed of trust. The agreement also stipulates that if I offer it, I can not change the terms “obligation” loan without the written consent of sellers of real estate … Q: 1: I already have prior approval. How long it takes to ensure that laenuQ written commitment: 2: Can I lock the interest rate, if I get a commitment? What if interest rates, after giving the undertaking, but before you finish? Q: 3: Do I responsible if I get a commitment from a financial institution, the sale is canceled for a reason and I do not want to start getting a mortgage Your answers? and help is greatly appreciated, thank you

6 Comments
  1. Reply
    kemperk
    January 31, 2011 at 1:19 pm

    u have it backward. they can foreclose after one missed payment
    but usually they wait for 3. DO NOT play cat and mouse!!

  2. Reply
    jlf
    January 31, 2011 at 1:51 pm

    You heard wrong.

  3. Reply
    Judy
    January 31, 2011 at 2:18 pm

    You heard wrong – just ignoring them doesn’t solve your problems if they can show they made an effort to contact you.

  4. Reply
    Landlord
    January 31, 2011 at 2:49 pm

    LOL, no of course not. There isn’t even a law that you have a phone.

    This will not slow your foreclosure down one bit. If they are calling they are trying to determine if you want them to foreclose or do something else.

  5. Reply
    Pengy
    January 31, 2011 at 3:05 pm

    You are wrong and in this case a fool, you possibly could have saved your home now all those chances are gone why? you would not talk to them worst thing you can do in any owed and am in a behind situation. You basically screwed yourself

  6. Reply
    realtor.sailor
    January 31, 2011 at 3:52 pm

    As long as your purchase contract is “subject to financing” you should be protected. However 10 days is not sufficient time. It should be 30 at a minimum. If it’s a foreclosure home it must be bank owned. Will they finance the purchase? You will probably have to agree with the rate a lender quotes you. There’s probably not enough time to float. If the gets canceled, either by seller or buyer, you will out some expenses (appraisal) but not that much because your financing fees would be collected at closing.

    realtor.sailor

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