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91313 : Real Estate Advice

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Tue Mar 10, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
If you are in foreclosure and you agreed to a repayment plan, most likely, it was an agreement that you make a partial payment and make 1 1/2 payments per month until you are current. The problem with these repayment plans is that they usually have something called a stipulation in them. The stipulation, typically indicates that if you default on the repayment plan, the bank will start the foreclosure at the point that you agreed to the repayment plan.

You only want to enter into these agreements, if you are sure, that you will complete the agreement. If you don't complete the agreement, you loose your partial payment, any additional payments and your house.

Be careful!
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