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  #1  
Old 05-23-2006, 06:47 PM
Junior Member
  
Join Date: May 2006
Posts: 1

Threat to foreclose

What is the name of your state? Georgia

My husband and I have had financial problems for a year or so now. We run behind on our mortgage, but we've never been more than 2 months late and we always catch it up. We live in Georgia. Our mortgage company is in Tennessee.

Right now, we are 16 days late. As always, the mortgage company is threatening to foreclose. What are the laws on this? Can they foreclose just because we are always late?

Dawn
  #2  
Old 05-24-2006, 07:11 AM
Senior Member
  
Join Date: Aug 2005
Posts: 1,964
You are not fulfilling your CONTRACT with them and yes foreclosure is their recourse if they chose to do so.

You might want to try very hard to make your house payment on time because if it becomes necessary to go else where for financing you will find your credit is ruined by the 60+ days late even if you DID "catch it up". At best you will have a double digit interest rate.
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