hi, and despite your current mortgage situation, Congrats on your new baby!!!.
the foreclosure process is lengthy,however some mortgage companies send out foreclosure notifications just after you're 30 days late and others wait 90 days,but you wont be out for a very long while (some cases yrs) if it ever gets to that(which i doubt). Do you have an FHA loan? if you do you may be in luck. there are many organizations and institutions that assist those with paying their mortgage. Understand this is usually a one time shot/help. you will have to show proof that you're delinquent(delinquent notice from mtg co) and financial hardship. IF you have and Fha, they (mortgage co) is supposed to send you FHA contact information on assistance and other payment options to bring your loan current. If you dont have an FHA loan, then simply call the collections dept and speak to a supervisor. understand that the reps are extremely unsympathetic and sometimes cruel andtheir job is to collect not help you, however I am sure they have options for your since its in their(mtg co) best interest to work things out with you. trust me they dont want to foreclose on you because its costly and a nuisance . They will use any tactic to encourage you to pay up.
For some bizarre reason they act as if they truly believe that people who pay late or are delinquent are all purposely negligent or simply have the money under their mattress.
Another option is if you cant afford the entire payment but can pay at least the principal and interest, then call and request to hold your escrow payment and accept your p+i until you're current. this will at least slow the foreclosure process and also prevent the derrogatory reporting to the credit bureaus. understand that this option can increase your mtg payments later after they reanalyze you payments, since you will still accrue the escrow payment in arrears. Also, bear in mind that every mortgage co have their own practices on how to handle their delinquent loans, so please call and inquire about the options i mentioned. They will do and try to work out everything possible to avoid foreclosure for sure.
Good luck ! surely everything will eventually work out fine.
to do ????? and not mine who has mortgage servicing experience...