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Foreclosure

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cathym

Guest
What is the name of your state? NY
I received a letter from my mortgage company's atty stating that my house is about to be foreclosed, and if I want to continue to live in the house to fill out attachement 1 and submit it to Hud. The letter also stated that Hud would like the property vacate . Attachement 1 said Hud would charge me fair market vaule for rent and I would have to pay security, if they would consider allowing me to stay. Also that I had only 20 days to submit my request to Hud.

I had a Chapter 13 bankrupcty that was discharged because the payments I could not keep up with.

Can I sell the property to my parents for what I owe the bank. My parents would then allow me to pay them back each month. I believe my parents would get a mortgage they would not be paying cash.

Can I file paper to stop the action because the bank never responsed to my request for a work out program. I owe the bank about $50,000 the house is work $160,000.
 


HomeGuru

Senior Member
cathym said:
What is the name of your state? NY
I received a letter from my mortgage company's atty stating that my house is about to be foreclosed, and if I want to continue to live in the house to fill out attachement 1 and submit it to Hud. The letter also stated that Hud would like the property vacate . Attachement 1 said Hud would charge me fair market vaule for rent and I would have to pay security, if they would consider allowing me to stay. Also that I had only 20 days to submit my request to Hud.

I had a Chapter 13 bankrupcty that was discharged because the payments I could not keep up with.

Can I sell the property to my parents for what I owe the bank. My parents would then allow me to pay them back each month. I believe my parents would get a mortgage they would not be paying cash.

Can I file paper to stop the action because the bank never responsed to my request for a work out program. I owe the bank about $50,000 the house is work $160,000.
**A: why are you posting again when I told you to contact HUD like yesterday.
Have your parents contact the lender and apply to assume the loan (if the lender approves). Also have them apply with a mortgage broker to close fast prior to foreclosure action.
 

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