Can my mortgage company still foreclose on my property even though payment arrangements have been made and fulfilled in a timely manner?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Can my mortgage company still foreclose on my property even though payment arrangements have been made and fulfilled in a timely manner?

I have a mortgage loan with another party co-signed on. We fell behind. Contacted the mortgage company, payment arrangements were made and payments were made timely according to that arrangement. I have kept in constant contact with my mortgage company, ensuring that every payment has been received. Just recently, they’ve returned my last payment and issued a letter stating their intention to foreclose and sue for back charges. What steps should I take to remedy this situation? Also, the second party of the loan has filed for bankruptcy.

Asked on December 12, 2011 under Real Estate Law, Georgia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If you believe that you are current on your loan with the lender where the security for the promissory note evidencing the loan is the real property that you have written about, but the lender is threatening foreclosure, you need to immediately consult with a real estate attorney about the situation.

Possibly there is some accounting error on the lender's part resulting from the falling behind in payments that happened to you that you apparently cured. In the interim, I would write the lender for a detailed explanation for its intent to foreclose on your property keeping a copy of the letter for future reference and need.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption