Are you simply planning to leave your home just like that? Do not; instead try to find out ways to stop foreclosure on the track. First things first – you should know the Boston foreclosure law well to halt it on track. According to foreclosure law you should be 60 days behind on your mortgage payment before any foreclosure can actually begin and you will be contacted when your first mortgage payment is about 30 - 45 days late. Don’t try to ignore this as that can be your one last chance to work out on your Massachusetts Foreclosure.
In the next step, you will get a letter from the lender, in which he will demand the payment. However, the third step in the Massachusetts foreclosure process occurs after 60 days when the lender turns the delinquent account over to their legal department to start with the formal foreclosure proceedings. Try to be proactive and consult the Boston Foreclosure Lawyer for the greater perspective of digging out the right way to stop foreclosure.
Legally the homeowner needs to be at least 60 days behind on your mortgage payment before any foreclosure can actually begin. In fact you will get your first reminder letter when the mortgage payment is about 30 - 45 days late. Do not ignore this warning because you never know that this can be your best chance to work out on your Boston Foreclosure. As an obvious next step the lenders send you the letter, demanding the payment. In the letter it is clearly stated that as the homeowner and borrower you have 30 days in hand to make the payment.
This content has been taken from: http://foreclosureus1.insanejournal.com/6442.html
Great post! When you're on foreclosure program if you have a job then the lawyer can help you avoid foreclosure by negotiating with the bank to lower your interest rate, your monthly payment and doing a new mortgage agreement.
ReplyDeleteChicago Loan Modification