# Any Lawyer-esque types out there that can answer a question for me?



## Cryozombie (Jan 10, 2005)

Can the Mortgage Company really forclose on my house because I am 10 days late with my payment?

 Cuz I got a Letter from them today...


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## GAB (Jan 10, 2005)

Technopunk said:
			
		

> Can the Mortgage Company really forclose on my house because I am 10 days late with my payment?
> 
> Cuz I got a Letter from them today...


Hi, Mortgage companies send those out and tell you to pay or they will.

That starts the legal proceding. As in a demand letter etc.

You have time and you will have to pay some more for late charges but don't let it go to long. It varies state to state. 

Make sure when you do pay you get a receipt from them through the post office. 

Regards, Gary


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## MA-Caver (Jan 10, 2005)

Or take the money in cash and go directly to their office with your sword... put the money on the president's desk so he'll see it, tie him up and then take his head. .... simple. It'll remind the next president NOT to mess with you by sending a stupid late notice...


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## Lisa (Jan 10, 2005)

Or send them this picture with a caption reading...

I dare you to send me another letter


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## Ceicei (Jan 10, 2005)

Technopunk said:
			
		

> Can the Mortgage Company really forclose on my house because I am 10 days late with my payment?
> 
> Cuz I got a Letter from them today...


 If it is your first time and you did make the payment, although late, then they can't foreclose immediately.  They can warn you though.  It takes a few months of missed payments before the foreclosure occurs.

 - Ceicei


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## Cryozombie (Jan 10, 2005)

Ceicei said:
			
		

> If it is your first time and you did make the payment, although late, then they can't foreclose immediately. They can warn you though. It takes a few months of missed payments before the foreclosure occurs.
> 
> - Ceicei


 Well, Ive been late a few times, always less than 30 days and I always pay what I owe PLUS the late fee if its past my grace period...


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## Cryozombie (Jan 10, 2005)

Nalia said:
			
		

> Or send them this picture with a caption reading...
> 
> I dare you to send me another letter


  That might work if they knew that was me... 

 Thanks, BTW, for taking that out of the Premium Club were EVERYONE could see it and decide I am a freak...


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## MA-Caver (Jan 10, 2005)

Technopunk said:
			
		

> That might work if they knew that was me...
> 
> Thanks, BTW, for taking that out of the Premium Club were EVERYONE could see it and decide I am a freak...


Didn't need the pic dude... we all just... knew, ya know? heh heh


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## Ceicei (Jan 10, 2005)

Technopunk said:
			
		

> That might work if they knew that was me...
> 
> Thanks, BTW, for taking that out of the Premium Club were EVERYONE could see it and decide I am a freak...


 Weeeellllllll, you did use that pic as your avatar for a spell some time ago, didn't you?  That was when "everyone" saw it before that pic showed up again in the premium club.

 - Ceicei


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## MA-Caver (Jan 10, 2005)

Ceicei said:
			
		

> Weeeellllllll, you did use that pic as your avatar for a spell some time ago, didn't you?  That was when "everyone" saw it before that pic showed up again in the premium club.
> 
> - Ceicei


Yeah, yeah! what she said... dude!


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## Ceicei (Jan 10, 2005)

Technopunk said:
			
		

> Well, Ive been late a few times, always less than 30 days and I always pay what I owe PLUS the late fee if its past my grace period...


 It's still just a warning. As long as you do pay monthly, they won't do much more than bug you with these letters just for being late (and perhaps some phone calls...  ).  Unfortunately, it does hurt your credit rating for paying late....

   - Ceicei


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## Cruentus (Jan 10, 2005)

Technopunk said:
			
		

> That might work if they knew that was me...
> 
> Thanks, BTW, for taking that out of the Premium Club were EVERYONE could see it and decide I am a freak...



Yea...like someone didn't have this as his avatar for awhile...lol


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## Cruentus (Jan 10, 2005)

Ceicei said:
			
		

> Weeeellllllll, you did use that pic as your avatar for a spell some time ago, didn't you?  That was when "everyone" saw it before that pic showed up again in the premium club.
> 
> - Ceicei



Oh...uhh...YEA! What she said... :uhyeah:


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## Cruentus (Jan 10, 2005)

MACaver said:
			
		

> Yeah, yeah! what she said... dude!



AND what he said.   Man...I really need to read the whole thread before I respond. :roflmao:


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## Cryozombie (Jan 11, 2005)

I know I know, I wasnt that concerned about it... I was teasing.

 if I was actually worried, since the pic is just hotlinked from my webspace, i would have changed the link.  

 No harm no foul...


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## Cryozombie (Jan 11, 2005)

Ceicei said:
			
		

> Unfortunately, it does hurt your credit rating for paying late....
> 
> - Ceicei


 Oh, Like THAT could get any worse...

 Whats a credit card, mommy?


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## shesulsa (Jan 11, 2005)

If you know you're gonna be late, it's always better if you let them know in advance (if that's at all possible) and explain the circumstances.  Hopefully it's better than "I just really, really needed beer ... bad."  Speak with someone on the phone first, get their name or operator number, write it down along with the date and time and number you called, and ask for a fax number to fax a written letter to confirm your conversation.  In the letter, ask for a fax confirmation - you can also get one to automatically print from a fax, confirming transmission at least.

Then, when they bug you, you have something to send them - your note which recounts the conversation and the printed facsimile transmission proof.

Now ... try to catch up, dude.  Selling your sword helps, but it's not enuf.  Sell a bunch of crap.


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## Cryozombie (Jan 11, 2005)

shesulsa said:
			
		

> If you know you're gonna be late, it's always better if you let them know in advance (if that's at all possible) and explain the circumstances. Hopefully it's better than "I just really, really needed beer ... bad." Speak with someone on the phone first, get their name or operator number, write it down along with the date and time and number you called, and ask for a fax number to fax a written letter to confirm your conversation. In the letter, ask for a fax confirmation - you can also get one to automatically print from a fax, confirming transmission at least.
> 
> Then, when they bug you, you have something to send them - your note which recounts the conversation and the printed facsimile transmission proof.
> 
> Now ... try to catch up, dude.  Selling your sword helps, but it's not enuf.  Sell a bunch of crap.


 No, thats plenty.

 I'm only behind because I used last months mortgage money to pay for my broken furnace.  I've almost caught up by eliminating my "play" money, ala the cash I keep for things like food, beer, gas, etc... but my work paycheck schedule is off from my Bills.

 If'in I sell the Sword, I can catch up, and have enough left in the bank to pay AHEAD of the bills, prior to the next paycheck from the office, as opposed to BEHIND them.  I think.  Well, Im pretty sure... probably.

 So, in theory its all good. Almost.


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## MA-Caver (Jan 11, 2005)

Mayhap a second job to (temporarily) get you back on track. That way you don't lose your sword.   

Just a thought.


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## Cruentus (Jan 11, 2005)

Technopunk said:
			
		

> No, thats plenty.
> 
> I'm only behind because I used last months mortgage money to pay for my broken furnace.  I've almost caught up by eliminating my "play" money, ala the cash I keep for things like food, beer, gas, etc... but my work paycheck schedule is off from my Bills.
> 
> ...



How will you keep your job as a professional ninja assassin without your sword?


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## Cryozombie (Jan 11, 2005)

MACaver said:
			
		

> Mayhap a second job to (temporarily) get you back on track. That way you don't lose your sword.
> 
> Just a thought.


 I have 2 jobs, I dont think I could manage a 3rd one...


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## stephen (Jan 11, 2005)

Technopunk said:
			
		

> Can the Mortgage Company really forclose on my house because I am 10 days late with my payment?
> 
> Cuz I got a Letter from them today...




No. Is the short answer. The long answer is that you'll have to be more than 60 (I can't remember exactly). Also will try to contact you by phone before anything gets real seroius. 

On top of it all, they above all- do NOT want to forclose. It's a sure way for them to lose money and affect their standing with Fannie Mae and Freddie Mac, the quasi-govenment agencies they do buisness with. They're just trying to scare you. They will do whatever they can to avoid forclosing. 

/s


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## FearlessFreep (Jan 11, 2005)

I was going to say what Stephen just said.  It's really in the best interest of the mortgage company to do anything else *but* foreclose.  I would be concerned that it is something you need to get worked out as soon as possible, and be honest and keep the lines of communication open with them, but I wouldn't be worried that you are about to lose your house


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## ghostdog2 (Jan 11, 2005)

I'm not much of a lawyer, but I do owe a lot of money. So, here goes:

Read the lending agreement. The contract is the law between the parties. It will spell out what the lender can and can't do. Be aware of the fact that some loan documents contain an acceleration clause that permits the lender to consider all payments due once any payment is missed. 
Whether and when a payment is considered "late" or "missed" is, again, spelled out in the documents. There are different consequences for missing as opposed to late.
Remember that the mortgage favors the lender and you may well have signed away a lot of your rights with respect to notice, time periods, foreclosure proceedings and costs. Don't screw the pooch! If you are at all uncomfortable, take the letter to a lawyer friend. Or call a local legal aid office specializing in tenants' and mortgagors' rights.
Lenders are not always predictable and while it is generally true that foreclosure is unattractive (banks aren't in the real estate business) do not take anything for granted!
Hope this is somewhat helpful. If you do nothing else, let someone look at the lending docs. I'll feel better if you don't.
Mike


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