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i need help with my mortgage

Profile picture for otsu
Contributions: 1
my bank gave me a 3 month trial period on my mortgage i have paid 2 payments so far and one more due december but i steal recieved a trustee sale date. i called them and asked them for something in writting.saying they will stop the sale and the told me they could not do that. what should i do.
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November 06 - Sacramento
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Answers (3)

Profile picture for LoanModSpecialist
Real Estate Agent
Contributions: 415
Zillow All-Star

Since September 2009

The terms of the papers that you signed for your trial loan mod should explain alot of what can and can't happen for you.  If you have a trustee sale and it is right around the corner you can either let that continue and go to foreclosure or you can hire an Attorney that handles this kind of situation.  Depending on your sale date, i.e. it may not give the Attorney enough time to handle the situation.

You also may be able to postpone it, again, i would hire an Attorney that knows what they are doing, our Attorneys do this all the time.  Whomever, negotiated your loan mod should be handling this for you.  If you did it yourself, then it is time to find an expert.
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November 08
Profile picture for elizabeth_weintraub
Real Estate Agent

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Since September 2009

I've got short sale clients who ended up in a short sale because of banks who do this. They give you a "temporary" loan mod for 3 or 6 months, collect your payments and then deny your loan modification. It's pretty underhanded and sneaky. 

Sometimes, owners aren't even notified. The home just continues on its path to a trustee's sale, and the next thing they know, the sheriff is knocking on the door.

You may want to consider a short sale. If you receive an offer in time, the bank might postpone the trustee's sale. You should also talk to a lawyer. I'm so sick and tired of banks ripping off home owners and getting away with it.
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November 06
Profile picture for mjseligman
Mortgage Lender

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Contributions: 57
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Since November 2009

Get an attorney asap.  If you are in the government hamp program you would have received documentation when you started the trial period.  To be sure you are safe you will need  an attorney.....  Good Luck
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November 06
 

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