Sunday, January 1, 2012
Do I have any options? I was recently laid off and could not afford my mortgage.?
Forclosure proceedings started after 120 days of missed payments. Once it started I tried to make payments but the lender would not accept them. I recently went back to work and worked out a Forbearance agreement with the lender. The payments are extremely high but I was desperate to not lose my home. I made two payments but can;t keep it up. The lender seems difficult to work with but I know they don't want to foreclose. It is an ARM loan and due to rise in Jan 2008. Do I have any options at all.
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