Threatened with Foreclosure

What is the name of your state? IN

My husband and I have a mortgage with Company A. We had gotten behind on our payments, as of tomorrow we are 60 days behind. Due to exhorbitant attorney fees to obtain custody of his child, son having surgery, and taking time off with no pay to care for him, etc. Enough of the reasons why we are behind, Here is the problem:

When my husband and I realized we were sinking, we shopped around and found Company B to refinance our mortgage at a much lower interest rate 7% as opposed to 11%,and allow some room to breathe. Company A was contacted and informed we were closing with Company B a week prior to closing, and they would receive payment tomorrow (wednesday)
We signed papers on Wednesday prior to Thanksgiving. Due to the 3 day waiting period final closing was not scheduled until Monday. On Monday Company B called and due to the courthouse closing Friday after Thanksgiving, they weren't able to register the mortgage,etc. at the courthouse until Monday, thus we rescheduled final closing for Tuesday. No problem. All was well. WRONG!
Company A spoke with my husband this morning prior to closing demanding payment to get their account current by close of business today. My husband informed them again,that payment in full would be Overnighted to them by tomorrow.
Company A proceeded to call frequently and even sent someone out to attempt to collect this money TONIGHT! We were told that we would get the money back once they received everything and closed the account. My husband informed them he was not going to write a check that would just end up bouncing, as this was a significant amount. The company proceeded to harass us, and even informed my husband that they were starting FORECLOSURE proceedings tomorrow. He was further informed that when they received the check from Company B....Company A would refuse it and send it back, and continue the foreclosure on our property.
Now, I'm not the smartest person in the world, but I'm pretty sure they can't do this can they?
My understanding is that the new mortgage is now registered at the couthouse, and we signe the paperwork today,thus rendering the mortgage Company B's......not Company A's. AND they can't being foreclosure until you are at least 90 days past due. AM I RIGHT? Is this legal? Is my home still protected or have I opened myself up to losing my home? I have kids and don't want to lose my home. Please help!

[HomeGuru]

[quote=Confused&Abused]What is the name of your state? IN

My husband and I have a mortgage with Company A. We had gotten behind on our payments, as of tomorrow we are 60 days behind. Due to exhorbitant attorney fees to obtain custody of his child, son having surgery, and taking time off with no pay to care for him, etc. Enough of the reasons why we are behind, Here is the problem:

When my husband and I realized we were sinking, we shopped around and found Company B to refinance our mortgage at a much lower interest rate 7% as opposed to 11%,and allow some room to breathe. Company A was contacted and informed we were closing with Company B a week prior to closing, and they would receive payment tomorrow (wednesday)
We signed papers on Wednesday prior to Thanksgiving. Due to the 3 day waiting period final closing was not scheduled until Monday. On Monday Company B called and due to the courthouse closing Friday after Thanksgiving, they weren't able to register the mortgage,etc. at the courthouse until Monday, thus we rescheduled final closing for Tuesday. No problem. All was well. WRONG!
Company A spoke with my husband this morning prior to closing demanding payment to get their account current by close of business today. My husband informed them again,that payment in full would be Overnighted to them by tomorrow.
Company A proceeded to call frequently and even sent someone out to attempt to collect this money TONIGHT! We were told that we would get the money back once they received everything and closed the account. My husband informed them he was not going to write a check that would just end up bouncing, as this was a significant amount. The company proceeded to harass us, and even informed my husband that they were starting FORECLOSURE proceedings tomorrow. He was further informed that when they received the check from Company B....Company A would refuse it and send it back, and continue the foreclosure on our property.
Now, I'm not the smartest person in the world, but I'm pretty sure they can't do this can they?

**A: yes, they can refuse the check if it is 1 cent short of the loan payoff amount including interest late fees, legal fees, court costs and other costs etc. in connection with the foreclosure. Or if the check is presented too late.
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My understanding is that the new mortgage is now registered at the couthouse, and we signe the paperwork today,thus rendering the mortgage Company B's......not Company A's.

**A: you had better confirm this with the title company because I would be concerned about the first mortgage (A) being paind off AND released off title rather than the mortagge loan from B recorded on title.
***********
AND they can't being foreclosure until you are at least 90 days past due. AM I RIGHT?

**A: read your mortgage docs. The lender has a right to foreclose if you are 1 day late and past due or if your mortgage is not paid current.
********
Is this legal? Is my home still protected or have I opened myself up to losing my home? I have kids and don't want to lose my home. Please help!

**A: you had better start making some calls instead of guessing.

[seanpat]

I work with a company that helps families behind on mortgage payments or facing foreclosure, we do not charge any up-front fees to help you.
You can visit my web page at [url]http://www.mortgagereturn.com/[/url]

Sean

[jbradley7]

Hi "SeanPat",
That's great what you guys are doing. However, you say it is a ministry reaching out to help homeowners. My question to you, how do you get compensated? You've got to get compensated somehow.
Do you help those homeowners who are currently unemployed but still would like to stay in their home allowing them some time to seek "employment"?
Do you guys assist with contributions if their lender is willing to do a workout but the contribution is untainable for the homeowners to raise?
I am a foreclosure prevention consultant and I am a "believer" and spirit field. I am also a business person and not in the position to provide "free" service...However, I have my spirits leads me in this direction.
What I'm looking for are people who are on the same page in legitimately "helping" others and not taking advantage of their mishaps. So what I'm looking for are people who can fill this need to assist these homeowners and allow them to stay in their home if they are in a better financial position to do so, etc.
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Originally Posted by seanpat

I work with a company that helps families behind on mortgage payments or facing foreclosure, we do not charge any up-front fees to help you.
You can visit my web page at [url]http://www.mortgagereturn.com/[/url]

Sean

[HomeGuru]

Another scam found.