Financing in Springfield>Question Details

Tim Atherton, Other/Just Looking in 65807

If I have faulien 3 months behind on my mortgage and they take 2 months that i sent them. Am I still in default?

Asked by Tim Atherton, 65807 Sat Mar 20, 2010

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Contact your lender, also consider a loan modification--yes, you may still be in default since you are still behind--again contact your lender--
0 votes Thank Flag Link Sat Mar 20, 2010
Tim, you are still in default, period. I disagree with J.M. Don't take a change and assume you are.

Good luck.
0 votes Thank Flag Link Sat Mar 20, 2010
The short answer is, "YES."
The lenders apply delinquent payments to the oldest payment due and delinquent interest (banks charge interest on delinquent interest). Lenders take all of the money they can get from Borrowers, but that does not mean that they will not taken action against you - - you have reported to the credit reporting agencies as missing 3 payments. You should contact your lender to explain why you are delinquent. Perhaps you can qualify for a loan modification. You should definitely ask for a loan modification.
0 votes Thank Flag Link Sat Mar 20, 2010
What did they apply the payments to is the question. If they applied them to just aadded interest for being late they mat not have you as being caught up. You are not too far behing but this may actually help you qualify for a loan modification. Call them up and get the paperwork, they may be willing to help you. Good Luck!
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0 votes Thank Flag Link Sat Mar 20, 2010
That depends on your lender but as a general rule, I would say if they accepted the payments then you should be alright for the moment. I do suggest you call them, the biggest problem lenders have is failed communication, so talk to them and 99% of the time they will find a way to help if at all possible.
If your finding that your going to be in trouble again shortly and possibly be in default again then consider, and I mean just consider listing it for sale before they just take it away.
For the record, I want you to be assured that your are not alone, the number of folks in your exact position is staggering - do what you can and make clear attemptt to give your lender something each week if possible, intent is huge and they work with you even more if you show effort.
If you need me for anything, just call or email.
If you think you may be heading for foreclosure call me - I can stop it in most cases with the intent to sell. It will save your credit and, who knows, maybe put some cash into your pocket.

Do not give up, I will be here if you need anything, really - just call, advise is still free.

Jamin Jones
Century 21 Northshore
0 votes Thank Flag Link Sat Mar 20, 2010
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