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Small update...spent the day on the phone with various people today. Come to find out, the mortgage company RETURNED OUR PAYMENTS to the bank! The guy told me the account had been "blocked" and they couldn't accept payments anymore. WHAT?!? I've never heard of such a thing, AND, I was ready to make the last payment to get it caught up today. He said we are in "pre-foreclosure" and that they could only take care of it if we paid the full amount past due, plus all the late charges, PLUS "attorney fees, inspection fees, and other fees." That is over $8000 total ($4500 in all the fees). I don't THINK so. I was stunned. I didn't ask for an "inspection", but apparently, the bank can randomly do one and then charge ME for it?
I did have a hopeful conversation with a mortgage broker who seemed very upfront about the "not-so-pretty" interest we may have to sign for. I knew our credit was trashed, so it came as no surprise. Last I heard today, it should be "no problem" to get us approved quickly and out from under all the bills. I'm still not sure anymore details and certainly will read any contracts very carefully, but for today, there was a little less pressure and for today there was a little more hope.
For the question...if the house does go to full-blown foreclosure before we can get a new loan in place, can the bank pull the foreclosure back? I did send in some papers they requested about our situation to "see what they can do", but haven't heard back from the loss mitigation people yet.
Thank you for any continued prayers and positive thoughts our direction.
I did have a hopeful conversation with a mortgage broker who seemed very upfront about the "not-so-pretty" interest we may have to sign for. I knew our credit was trashed, so it came as no surprise. Last I heard today, it should be "no problem" to get us approved quickly and out from under all the bills. I'm still not sure anymore details and certainly will read any contracts very carefully, but for today, there was a little less pressure and for today there was a little more hope.
For the question...if the house does go to full-blown foreclosure before we can get a new loan in place, can the bank pull the foreclosure back? I did send in some papers they requested about our situation to "see what they can do", but haven't heard back from the loss mitigation people yet.
Thank you for any continued prayers and positive thoughts our direction.
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