lender harassment

[Squyredog]

What is the name of your state? I live in Texas and I am having a problem with my lender. We are perpetually one month behind on our mortgage payment. My wife started to let them withdraw funds electronically from our account (which they charge us for), and in the past we have taken advantage of a skip-a-month plan they offer once a year. Recently they refused to delay the electronic transfer which was set up a couple of months in advace to help us avoid being overdrawn.
Our pay schedule falls on random dates every two weeks so we often have to wait an extra three to seven days to have large loan payments covered. The loan company is now harassing my wife trying to make her continue the electonic transfers although we no longer wish to do so. They are threatening to file for immediate payment of the loan balance served with an eviction notice if she doesn't let them continue electronic withdrawls. They have also refused to let us skip-a-pay to bring the account current.
What are my legal rights? Under what circumstances can they foreclose?What is the name of your state?

[BriantheBanker]

This is creative... let me guess ASC, Opt1, ameriquest or some other HUGE servicer.
If this is your primary residency, chances are they cannot kick you immediately. Many states allow mortgage companies to begin the process of foreclosure if the payment is 30+ days late. generally- if you didn't make another payment, you would have time to redeme/ reaffirm (I can't spell tonight...) the debt. MOST times the foreclosing company wants full payment but will sometimes allow payment arrangements.
(HOW MUCH TIME before sale DEPENDS ON...
If the company has the words bank, or any spelling to allege the company is a bank- they are federally chartered & can follow federal foreclosure law instead of state. if the institution is not a bank (meaning federally chartered) they must follow state law.
(ASC, OPT1, AQ are all federally chartered banks.) Determine if your mortgage company is state or federally chartered, then do an internet search for federal/ state foreclosure law.
ANSWER: this should give you the amount of time from NOD to sherriff sale & the amount of time you have to redeam the property after SALE. (COULD BE A FEW MONTHS, could be 6 - 12 months.)

try to work out arrangements you can stick to. the more chances you get & can't follow thru with will reduce your chances of negotiating to not start foreclosure.
good luck!

[lcannister]

You will not like my reply!

If you are perpetually 1 month behind and having such troubles with the payments you are clearly in a home you can no longer afford. Time to sell, before you lose it and find a home you can afford on a month to month bases.

Seems they have been pretty lenient to date since you say this is an ongoing thing.

This does not mean I do not realize hard times come along but you need to be realistic before you lose it all.