Foreclosure in Woodridge>Question Details

Marie, Other/Just Looking in Woodridge, IL

I am a PA Resident and am 1 payment behind on mortgage. I have continued to make payments but am still 1 payment behind. Can I go into foreclosure?

Asked by Marie, Woodridge, IL Mon Jan 25, 2010

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Sylviashchepanik’s answer
If you truly want to go to foreclousure. It's best that you seek legal advice. I dealt with Jonas Price phone number 3122919700 the attorney Vito Jurjjonas ext 102, helped me with free advice, he spoke to me for over an hour, when after few weeks of researching all my options, I chose to go to forecloure HE WAS THE ONLY ATTORNEY who didn't want the money upfront. As you know sooner or later you will need legal represenation, they take upfront 2700-5000, which I could never pay upfront hence I lost my job. After my 15 min conversation with over 20 attoreys all they wanted was the 3k-5k upfront. Mr. Joujoas (Jonas) split the payments for me, no intrest, I paid 300 every other month, getting an attorney also created less stress, the moment I went into foreclousure status, I no longer had to make payments, and the legal process took over a year... I was able to get my life together, got a job, found a nice place to live, by the time the legal process ended, I managed to save money, and I was no longer under constant stress. I'm not an attorney, I was lucky I had found an attorney who didn't rip me off, spend over an hours with me on all my options, and after I took my time to seek other advice, and phoned him a month later, he spoke to me again, explained the process, and put me on a payment plan. I had no choice to go to foreclousure then, no job, so much stress, depression... Now I feel i'm alive again, I will never make the mistake I made when I was buying my the house. Never.
0 votes Thank Flag Link Wed Sep 26, 2012
I hope things worked out for you. A loan modification or work-out is very reasonable to request if you can't catch up and you won't get foreclosed on for quite some time. Even if you get to the point you hit your 90th day behind when the payment is due, then your acceleration clause triggers and you have x time to cure the deficiency before they start the actual foreclosure proceedings.
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0 votes Thank Flag Link Tue May 8, 2012
If you want to stay in your home and lower your payments, consider a house lease back.
0 votes Thank Flag Link Sat Oct 22, 2011
Hi Marie, one payment usually will not trigger a foreclosure in fact if the payment gets there before the cut of date the following month (usually the 10th or later) it is not reported as late on your credit report, but I would bet that you are accumulating a lot of late charges. If you are having trouble keeping up with the payments you should qualify for a modification especially if you are only one payment behind, call your bank and ask to speak to someone about a modification. Being proactive gets you a long way with your bank so call and be persistent some banks are not good at answering phone and many times you will need to ask to a supervisor or even an administrator. Modifications can lower your payments to something you can manage, usually by 1/3, lower your interest rate and even lower the principal amount of the mortgage. The government has set up these programs to avert foreclosure and believe it or not the banks do not want to foreclose either. OH and make sure you document everything these banks tend to lose things and remember what they want.
Good Luck with everything
PS, If you are having trouble with money management do not feel bad most people do it was never taught to us, in fact corporate America purposely brain washes into thinking we need debt to live when actually we can live comfortably and even wealthy without debt.
0 votes Thank Flag Link Mon Jan 25, 2010
Hi Marie,

From my experience, the bank will not foreclose on you for being one payment behind. These days, the bank is willing to work with you to catch up to your mortgage rather than take a huge loss and foreclose on your property. You may just want to give your bank a call and try to work on a payment plan.

Hope this helps!

Cherrie Catama
Newman Realty
0 votes Thank Flag Link Mon Jan 25, 2010
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