Foreclosure Reinstatement Fee help

[MomofTwoMonkeys]

What is the name of your state? Texas

I called our mortgage company yesterday Friday June 8 to make a payment and was told that our mortgage had gone to foreclosure as of Thursday June 7.

I was told that at the time it went to foreclosure we were approximately $1875.00 behind on our payments.

I was given the name of the attorney to whom our foreclosure has been turned over to. I called his office yesterday and they told me they had no information on our loan as of yet and to call back Monday.

I am attempting to get the money together to pay the reinstatment fee. I would like to know what you think I might expect in terms of a total fee for the reinstatement.

Thanks so much.

Molly

[FlyingRon]

First you must pay the delinquency. This is not just the $1875 but all the other payments that were due (and have been due since) AND the interest on the unpaid moneys.

That is if you are within the 20 days from the notice of default. After that, there's no right of redemption in Texas so anything they ask for is a point of negotiation between you and the bank.

[MomofTwoMonkeys]

Originally Posted by FlyingRon

First you must pay the delinquency. This is not just the $1875 but all the other payments that were due (and have been due since) AND the interest on the unpaid moneys.

That is if you are within the 20 days from the notice of default. After that, there's no right of redemption in Texas so anything they ask for is a point of negotiation between you and the bank.

Well our payment is $535.16 a month. We have been delinquent since March. That was our last payment. If I total it up counting March through now it should be around $2300.00 or so with late fees. Our interest rate is 5.5%.

Does that help?

[lcannister]

Now add in some Atty fees which will likely be due as well. Unless you state has a limit that could run a couple of thousand as well.