defautled on forbearance agreement and house is in foreclosure. Can I become current by paying all deliquent,fees before sale date?

Asked by Liz, 60620 Mon Jan 16, 2012

I live in california, signed forbearance agreement paid all past due amount however 1,800 (fee) was still due and when I missed a payment they went ahead to foreclose.

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Andrew M., , Miami Beach, FL
Wed Jan 18, 2012
The entirety of the note or mortgage often becomes due on notice of foreclosure. So in your situation, in order to become current, you would have to pay the whole balance of the mortgage plus any fees, and legal expenses incurred by the lender. Some of these fees may not be apparent to you, and you may need to contact the lender for full details.

If you've defaulted on forbearance agreement, you should have been receiving a few notices from your financial institution that is holding your mortgage. Those documents have an amount that you owe to bring you into compliance.

More often than not, your lender will likely prefer to try to sit down with you to work out a repayment plan/proposal, rather than having another foreclosure on their books.

Therefore, it would be advisable to call your lender as soon as possible to find out what steps you need to take to get this taken care of prior to sale date.

Wish you the best outcome and feel free to give us a call and we can provide a free consultation for you.

Andrew M.
A.S. Foreclosure Defense Lawyers
Call: 877-516-7093
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Cindy Wilson, Agent, Chicago, IL
Mon Jan 16, 2012
Liz, it sounds like an Illinois attorney is needed. If you'd like some recommendations for good attorneys in the city, I'm happy to give you some trusted resources to help you.

Cindy Wilson
Koenig & Strey Real Estate
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Matt Laricy, Agent, Chicago, IL
Mon Jan 16, 2012
I would talk with your real estate attorney. Explain the situation and see what they can do to help you stop this.
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Evelyn S. Fr…, Agent, Chicago, IL
Mon Jan 16, 2012
Hi Liz,

California is not a judicial state, which means they can foreclose at any time. That being said a couple of actions for to take immediately:

a) check your agreement, verfiy what the penalty for non compliance is
b) call your lender immediately and address this with the loss mitigation department, and
c) get your attorney involved.

These steps should at least point you in the right direction. With CA being a non judicial state you may have no recourse or redemption period, all the more reason to pick up the phone immediately.

Good luck!
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Jorge Vega, Agent, Chicago, IL
Mon Jan 16, 2012
Hello Liz,

You typically have up until the date of the foreclosure sale to redeem your property. I suggest you speak with your lender and also touch base with a competent attorney. Its always a smart move to ask the professionals in their right area of expertise for advise. Good luck!
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Barbara Bark…, Agent, Chicago, IL
Mon Jan 16, 2012
Liz, I know a lending service in California that specializes in this.. If you would like to ask him this question, I can give my contact your email or vice versa.
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Bill J Delig…, Agent, Naperville, IL
Mon Jan 16, 2012
Owners normally have until the last second to become current on all amounts owed. Contact your lender and ask for the exact amount you owe - pay it - and then you should become current.
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Scott Godzyk, Agent, Manchester, NH
Mon Jan 16, 2012
Liz you should contact your bank and ask for the home retention department. you should be able to end foreclosure by paying your delinquint amount.
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