Is there anyway my mom can prevent her house from foreclosure or is it too late?

June 16th, 2009 | by admin |

Ok so a year ago around this time my mother moved out of her house to live with her boyfriend. (he fraudulently convinced her to move in with him, telling her he had a deal in the works for selling her house. Hes in the real estate business) Well to make a really long complicated story short, in the last few months her now ex boyfriend has shown his true side, and she has left him, moving into a trailor! She has not paid her mortgage or the bills in the house since last September i believe. Now shes in a really bad place, without a nice place to live, and her house which never sold is still sitting there. Even though she has not paid the mortgage in a year (with the bills and mortgage at the house her and her boyfriend moved into it she didnt have enough money for the other mortgage) Is there anything that can be done? Or because its considered abandoned is it a lost cause. (obviously there is a whole lot more to this story so please just try to answer with the info i gave u..dont judge her or be mean!!! :)
to the first person who answered ur answer was great thanks, but i asked not to be judged because immature people come here and read a question and talk crap and pass judgment when they do not have the whole story. My mom is a wonderful person who got taken advantage of. If i were to write her entire story up here, people would understand but i just wanted to get some answers about the real situation at hand. Thanks tho

see if she has a relative that will buy it with a guarantee from her
that she will buy it back.

then, as soon as the relative has bought it, she can
kick out the b f and the lady can move back in.

if that does not work, sell it to whomever.

GETTING on old flame out of a house IF HIS NAME is not
on the deed, is easy……..

available to help further

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  1. 3 Responses to “Is there anyway my mom can prevent her house from foreclosure or is it too late?”

  2. By chatsplas on Jun 17, 2009 | Reply

    DEPENDS. She needs to contact her lender immediately and see what the status is. She may be able to work out something with them if they didn’t complete the foreclosure process. If she hasn’t paid since 9/2008, there is probably time to cure, IF she acts now. She needs to talk to several people at her lender, stop avoiding them. She should go to a HUD accredited credit counseling agency, HUD Hope for HOmes, etc.
    You definitely want to talk to a HUD housing counselor in your area ASAP. They can help with what’s called “loss mitigation” to help get your mortgage back current. To find a counselor in your area you can go to http://www.hud.gov/offices/hsg/sfh/hcc/h... or call 1-888-995-HOPE. Hang on through the HOLDS.

    Typically all services from a housing counselor are free.
    HUD’s guide to avoiding foreclosure: http://www.hud.gov/foreclosure/index.cfm

    You don’t want judging, don’t post for thousands of yahoos to read and judge.
    References :
    real estate attorney

  3. By I Buy And Sell Houses on Jun 17, 2009 | Reply

    Quick answer: You can save a house from foreclosure up to the day that the house is scheduled to be sold. So, if the house is till in her name–even if the foreclosure is set for tomorrow–it can be saved.

    Longer answer: Whether it makes sense to save the property is another matter. For example, let’s say the house is worth $100,000 and has a $30,000 mortgage. You (or your mother) could sell it very quickly for, say, $60,000-$75,000. That’d avoid foreclosure and allow your mom to walk away with some cash.

    On the other hand, if the house is worth $100,000 and has a $90,000 mortgage, it’d cost more to pay the deficiences, interest, and penalties than the house is worth.

    So: Check with a Realtor to determine the value of the house. If there’s sufficient equity (the spread between the house value and what’s owed), you could list it with the Realtor and probably receive 90%-95% of market value (actually, technically, 100% of its true market value), though it might take 30-90 days or mroe. If there’s a lot of equity, you could sell to a real estate investor for about 65% of after repair value minus any needed repair costs.

    Hope that helps.
    References :

  4. By kemperk on Jun 17, 2009 | Reply

    see if she has a relative that will buy it with a guarantee from her
    that she will buy it back.

    then, as soon as the relative has bought it, she can
    kick out the b f and the lady can move back in.

    if that does not work, sell it to whomever.

    GETTING on old flame out of a house IF HIS NAME is not
    on the deed, is easy……..

    available to help further
    References :
    RE broker

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