Foreclosure - Can I save my home?

So I finally got 3 months behind on my mortgage and got "the letter". Yup...I'm in foreclosure. I really thought I'd be able to catch up but...that's how it goes. I do want to keep my house but now that I'm in foreclosure is there any way to do it? From what I understand President Obama's "help" only helps those that are not behind on their mortgage. How does that help someone who lost their job (bankruptcy after 50 years) in 2006 before the big financial fall out and was unemployed for 1 1/2 years because there were no jobs? I was at the beginning of the end of the country's financial healthiness when there was no help, no extended benefits, no bank "working with you". Help...anyone?

2 Answers

  • 1 decade ago

    Wow..You are in a pickle. It's all hind site now, but you should have been talking with your lenders from early on. In light of the fact that you have no income/no job it is difficult for the bank to work out a payment arrangement for you. Call them and see if they can provide you with an alternative, otherwise I think foreclosure is it.

  • 1 decade ago

    The presidents new plan helps people who are both current or behind on payments. The first thing you may want to do is have your loan(s) audited to see if they were made with infractions or violations. You may be a victim of predatory lending and you can for your lenders hand!

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