Hello Cosmo, there is a 14 day rule in the industry that almost all lenders adhere to. If the payment is late but arrives within 14 days of the due date no record of that missed payment is recorded. However if the payment is late past 14 days there is a record kept on file which never disappears. This can be a problem if in the future you are looking to refinance with that lender and there are many lates on their file they may just decide that they are not going to take a risk. The good news is that mortgages in Canada are not reflected on your credit bureau so if there is a problem another lender will not have access to this info and your approval will be based on your credit bureau instead. One thing to remember that banks will send the file to their legal department if a payment is not made after 60-90 days. Any legal costs the bank incurs (even if you bring the mortgage up to date ) will most likely be forwarded on to you. Call the bank today and make sure they know of the situation, they may be able to help with programs like skip a payment, or extending your amortization to lower your payments. If you or any reader would like more information please do not hesitate to give me a call at any time. Abraham Niyazi - Mortgage Agent - Lic# M08010640 - Centum One Financial Lic# 10758 - Cell: 416-993-4082 - Office: 1-866-RATE-708 x 115 http://www.centum.ca/abraham_niyazi/ I have access to many Banks/Lenders across Canada and 11 years experience in the industry.

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We are late 3 months on our mortgage payments (due nov. 30), and we are doing our best to catch up. we do not want to lose our place. we sent them 1 payment last week, explaining that that's the only thing we can send right now. ups just left me a certified envelope with the returned money order that we had sent them last week, with a letter saying that they cannot accept this payment, they need the 3 payments with interest. they are threatening foreclosure all the time, even when we are late 1 payment. like i said we are struggling really hard and do not wish to lose our place. i've heard that banks and mortgage companies are working with the people trying to lower interest rates so that the payments are lower, or whatever works to keep their place. i don't understand this mortgage company. do they rather foreclose on our place right now rather than try to work with us? what can we do now??? to those who bet that we have 3 cars, 2 boats, cable tv, hbo, eat filet mignon every night, you are dead wrong!! we live a very simple life, only 1 car, no cable tv, we dont use a/c or heater, never eat out, i have a garden on my backyard where i grow my own vegetables and this way i save on my grocery bill. we do not have health insurace, never had, i'm trying to go to college to be a rn, so i can help others with the skills i have, be able to pay our bills with dignity, trying for a grant or scholarship, 3.9 gpa in high school, love to study and will take the opportunity with all my fingernails if given me. no kids, no child supports, never got a ticket, never used drugs, dont drink, dont smoke, do voluntary work in my community... is that enough to prove that i deserve to keep my home or do you need more?

Had a simaliar problem around 15 years ago was a little over 30 days late and sent a payment, they said they could not accept it. First I argued that they have to accept the payment as I owe them it is part of my debt and I don't care if I sent them it in penny's they would have to accept. Then threatened to go to the banking commission, and any other Federal overseer of the banking and mortgage institute I could find. They accepted. You can find those agencies online, also I would write my congressman and senator, you can find and write them online, next head to the newspapers, here in the middle of this crises is someone who is trying to make good and get caught up and there is a mortgage company that is refusing payment in order to put you in foreclosure. Some I read about on here have not paid for 6 months and have not even tried, you on the other hand have, those are the people that need the help in this crises not those that just quit paying, or those that look, read and say hey is we quit paying we can get some help. Start tonight writing your representatives, I am sure they can get the ball rolling. Good luck to you and your family. Go now and save you home

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I don't get it. wanted to know what you think i should do, and if anyone else is having problems with them. was behind a payment last year. i was sent a notice to accelerate the mortgage when i was exactly 28 days late (so i was late making july's payment, because my house flooded which i called and told them, and they sent me the notice to accelerate on july 28th). caught up and paid a month in advance. started getting collection calls (up to 11 in a single day) right after x-mas when i was paid up to february. i called them and they said they were calling me because i was late in the past, even though i wasn't late then, and i was paid in advance. i have received approximately 60 calls so far. then a week later i get a "transitioning out of your home guide". i called them and said i don't want to move, and why are they sending me this. they said they had no record of sending it. i asked them if they wanted a picture of it. less then a week later i get another "transitioning out of your home guide" and options on short sales, deed in lieu, etc. yesterday i got a letter stating that they wouldn't approve my application to participate in a short sale or deed in lieu of foreclosure. i never applied for either of those. i am paid until february 1st. it is january 25th. am i missing something here?? why the h*ll do they keep sending me this crap? then same letter also said that they are continuing to proceed with the foreclosure that was stopped 3 yrs ago when the loan was modified (had a job loss. got another job, but it only earns 43% of previous employer with no benefits.) how can they foreclose on a house when i am current on the note?? they also won't release any of the insurance check for the damages, until i've been on time for 6 months (and they call a payment made on the 2nd of the month late. i realize it is due on the first, but even the late payment fee kicks in on day 16). so unless it is paid before the the 1st for 6 months, they won't release the funds. so here i am making repairs without any money from the insurance check. i am 80% done with repairs, and they won't release a dime until it is at 100%. they won't even pay a contractor directly. does it sound to you like they are trying to force me out of the house?? every time i call them, they assure me that the payments have been applied, and no payment is due. don't know what to do about all this foreclosure paperwork i've been getting. i really don't have the money for a lawyer, especially since i've been making repairs without the insurance money. it makes me think they are up to no good. the pamphlets that the man received in the clip below are the exact ones i've been getting. his house was being foreclosed on for 80 cents. http://video.foxbusiness.com/v/1367 526745001/bank-of-america-foreclose s-on-home-over-80-cents/?playlist_i d=87185&intcmp=obnetwork

when you get a harassing phone call...get the name and address of the offenders. They are not allowed to handle any case that is in dispute. Keep all your phone records... make sure you have copies of ever single call.. keep a complete log. If BofA continues... file a suit against them in small claims $5,000. For harassment and defamation of character. You can file for about $25..and no lawyer. Each day they do this to you...you can file for another $5,000. It will end up costing them so much in legal fees to be in court with you all the time..they will quit this. Plus..you are very likely to win!!

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I have discovered that there were more internal family issues. the actual borrower set up electronic payments to come out of his checking to pay directly for the mortgage payment. to date we are now talking about and "already foreclosed" and "sold" home back to fannie mae. the sheriff came and gave them homeowner an extra two weeks. it turns out, though not all details unfolded yet, that a family member interceded and somehow the payments never reached the bank. it has not been discovered how, but the fact remains the spouse/homeowner was "never" aware he was late, never saw any correspondence or got any phone calls he finally was in the right place at the right time, and was present when an eviction notice served and a week later the sheriff came to evict. the home has been sold. needless to say he will not sue the family member for covering the issue, the house is sold - does this spouse/homeowner have any recourse while he is still in the home for two weeks more? has it been already sold at auction and have new homeowners? how does he find out? through an atty only or any other way to verify this? can he buy back his home still? can he rent it and buy time on a lease? who would he go to and how would he find out? what else can he do or ask an attorney at this stage of eviction in two weeks? can he appeal or is it too late? and what is a "writ wil issue"? has this already occurred or does he or can he go to court still? there are elderly parents also involved because this is there home to..is it too late to do anything? what about an injuction? can it be done now and how much time doe they have? thanks. help.

This situation just gets worse and worse for you. If I understand this correctly, it sounds as though one party was responsible for the mortgage and another actually lived at the property. If this is correct then the party living at the property would not be notified if they were not on the loan, thus the bank has absolutely no responsibility to inform them of the situation. Banks will go after who is responsible for payment of the loan, not who lives at the property, again, if this is correct, the bank did nothing wrong. Is it too late to do something, most likely, it really depends on where the property is located, but it sounds like the property is in a state without a redemption period, which bascially means once the sale has occurred, you have to leave. I would possibly get with a realtor in the area that has access to Fannie Reo to see if the individual who is in the property can purchase it

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Hello, my name is nick bashore, and i have an issue with an investor that took my home over 4 years ago via a quit claim deed. he has been late on my mortgage payments several times, and currently he has not paid july payment nor this month. bank wants their money. the investor tells me that the people he is renting to has not paid him and he tells me that he served them a 5 day notice and on top of that he said it will take another 6 weeks to get the lady out of house. this will make my mortgage like 3-4 months late, and i am fearing that bank will foreclose on me. do i have anything that i can do legally to have investor bring payments up to date? he is hurting my credit. i know you charge for your services, and i would like to find an attorney, but the thing is that my wife lost her job, and i dont have much money. does your office to payment plans? how much monmey do you think you would charge to get this taken care of? ballpark? respectfully, -nick bashore the investor i did the quit claim deed with even had me sign a notarized letter, which he has, stating he will make sure payments are paid on time each month, and also i have a land contract with him stating the same. is it possible to foreclose on him even though mortgage is in my name. the property in question is in lake county in waukegan,il.

Now, why on earth did you deed out? You gave up rights to the house but kept the debt. Smart. Brilliant. You need an attorney, but in all honesty your moment of genius pretty much gave the property away.

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I was recently made aware, through a certified letter from the bank that holds the mortgage, that the house i lease is in foreclosure. the bank says to send payments to them. i did this month, and the propety manager called a week later and said that i was past due on my rent. i told him about the letter from the bank, and that the letter gave the appearance that he was no longer affiliated with the property. he said to continue to send payments to him until which time the house was foreclosed on, which would terminate my lease, or his firm was terminated by the owner or by the pending foreclosure. in the meantime, a for sale sign appears in my front yard, and a realtor was in my house showing it to a potential buyer without my knowledge while i was away on vacation (i came home to find his business card on my table) and they re-arranged my landscaping to take pictures to post on their website (the landscaping was put back, but i saw the pictures of the house on the realtors website showing that they had moved everything around). i am caught in the middle of a big mess. my question is this...when the bank forecloses (and i was told on the phone that they could not tell me whether the house was in foreclosure at this time, but could in 2 weeks), is my lease null as it is with a property management company and not the bank or the owner of the house directly? if the past 3 weeks are an example of what i can expect, i want out.

It will not matter, you will be evicted for non-payment before then. I can't imagine why the bank told you to pay rent to them, but it is not legal. That is not their house yet. Your landlord still owns it and rent is still due to them.

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I'll just state the facts: *me & my husbands home is in foreclosure. (i left him, and the house, a year ago...months after it went into foreclosure). *i did everything i could on my end to try to save the house (he's a dead-beat and did nothing to help). my 1st hardship letter was accepted and we were put on the obama plan, where our monthly mortgage payments were temporarily cut in half. we had to pay that for 6 months, on time. after 3 months, my husband was late on the payment and therefore, they stopped the obama plan and continued with foreclosure. *i wrote a 2nd hardship letter, and it was rejected. (it was at that point, i stopped trying. prior to this, i drained my bank account twice to get us caught up on the mortgage. i fought as hard as i could to save the house, only for him to continue to screw it up over & over again. i gave up.) *months pass by, he did nothing to save the home. *we just got a letter saying there's a court date to sell the home. that takes place in 3 weeks. so now i have 2 questions: 1) is there anything he can do to save the home? (he doesn't have the $15k to get caught up in payments, but he might have enough in his 401k to cover that...if that's even an option at this point.) 2) is there anything i can do to save the home, and/or getting it off of my credit report?

No way to save that house. Given your husband's behavior, you do not want to try. Foreclosures remain on your credit report for 10 years, not 7 as with credit card or similar bills. Bankruptcy and court judgments also remain on credit reports for 10 years. Of course, as public records, foreclosure, bankruptcy and court judgments remain forever, they're only dropped from credit reporting. There is no way to remove such items if they are correct, factual.

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I rented a house back in may of this year only to find out two weeks later that the landlord had not been keeping up with the monthly payments on the property. i received a letter from an attorney for the bank that held the mortgage on the property telling me they were exercising their right to collect any all rent for the property and that i was to begin making all rent payments directly to the bank. i called the attorney and talked with them and they said everything would be okay and that they were not forclosing or anything. well about 3 weeks ago i get a call from the attorney again telling me the bank is foreclosing on the property but i could still stay in the house. come to find out the mortgage was not only for my house but for several other properties and they were in default for over a quarter of a million dollars on various properties so the rent i was paying was not even covering 1/2 of what the actual monthly payment was. my question, should i stop paying my rent, save my money and find something else as soon as i can or should i keep paying my rent and hope i can find something quickly when the foreclosure is complete and the house is sold on the courthouse steps??? i'm really upset as i paid deposits and everything and this person knew what kind of financial shape they were in when they rented me the house.

You cannot stop paying rent legally To do so would mean an eviction and inability to ever rent again.

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I applied for a loan modification due to numerous reasons but at citimortgage's insistence. i was supposedly approved but after a year they kicked me out of the program without explanation, made up a huge 30k plus i owe without breaking it down, next day sold my loan to nationstar for half my mortgage value so they already made a profit, the gov reimbursed citi the discounted price they sold my mortgage to nationstar who two weeks later filed foreclosure on me stating since i was kicked out of the modification which 99.99% are, they consider all the months i was on it as not paying bec they are choosing not to count the payments i made while under the program. citi got thousands from the gov just to put me on the mod, then they got tens of thousands from the gov to kick me out and sell my loan at a discount then get reimbursed by the gov while i got screwed left and right and lied to while they steel my house thanks to the gov paying them to do so.

This sounds like a classic mortgage scam - which is illegal and certainly NOT sanctioned by "the government". The mortgage company scammed both you and "the government". Your problem could possibly be rectified by filing suit against the mortgage company and bringing it to the attention of federal authorities. Things like that are illegal and aren't supposed to happen. Do something about it and DON'T blame "the government". Blame the MORTGAGE Co who scammed you.

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I was not able to pay my mortgage so i went to a loan modification firm in march 2010. i didn't hear a response and kept calling them as to what they were doing? in sept 2009 the bank offered me a new payment that was about $1100 from the original $1800. my lawyer/the firm told me it was possible to lower the payment to under $1000, and since my business was slow in the fall (im self employed) i accepted. in december a man came to my door and told me "this house is in foreclosure" here are the court papers. i immedaitely caleld my lawyer and told him the papers that i had recieved, he told me not to worry, and that they wouldn't foreclose because they were negotiations. in jan 2010 the bank sent some papers asking me to fill it out and ask for a loan modification, my lawyer told me that this is a tactic they use in which they use to suck me in to negotiate with them and cheat me to a higher payment. i gave him the papers. a few days later the bank called me and said that they would modify the loan for me increasing the payment from $1800 to $2100 until the amount i owed them was paid in full, bascially a years worth of mortgages added to my original payment for god knows how long. i said if i could not pay $1800 how would i be able to pay $2100, he told me that i should manage my money better and should cut out cable and cell phone service. i told him i only have a phone and electricity, and have cut out all other expenses. he said that i was in a difficult position. i told him to contact my attoreny he didn't. so my lawyer calls me about a month ago telling me to make a payment for $1100 or else i would have to fight off losing the home. i said ok, and made a payment by check. the bank refused my check asked me to make a tellers check. i made a tellers check they refused saying that it wasn't for the total amount due. my lawyer changed his number, and his representative whom i was speaking with and not the lawyer himself disappeared and disconncted his phone number, as did the firm. i went to the office and tracked him down and he told he, he'd get is striaghtened out in 24 hours, after serveral calls and 1 week later he tells me hes gonna get the info by tomorrow, looks to me like he's playing a cat and mouse game with me and wasting my time. mind you i paid him $3000. questions: what is the bank doing right now? are they willing to negociate? how long do i have to fight off this "foreclosure" what is the process of this? why is the bank not taking my payments? is my lawyer screwing me over? what can i do about him? i have no court documents as i gave them all to him? how can i save my home? where do i go? idk what to do? thank you for all your help. god bless you.

You also are feeling the economic crunch as it relates to your mortgage, it seems. Well, hang in there. Knowledge is power. Here's an informative article on tips to avoid mortgage defaults, and one of them includes what you are doing--realizing and not ignoring that you have a financial crunch, which you seek to fix: http://yourhandymanzone.com/Your_Handyman_Zone_How_To_Pages_Real_Estate_Zone_Buying_Your_House_Mortgage_Default_Avoid_Foreclosure.htm Hope you find this helpful. . . Source(s): The Internet is what I use. I'm pretty knowledgeable about the Internet. I have a firm belief in helping people with what I know, including from my development of sites, such as the one cited above. Sharing really is caring, and I wish those who I help can reciprocate by sharing what they know.

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I was hired as the contractor for a for a homeowner in california who had sustained severe fire damage to her house. the homeowner let her insurance and mortgage company know that i would be repairing her home and they have been issuing checks to her in both of our names. i have now completed 80%-90% of the work on her property. a check was issued from the mortgage company after an inspector was sent out to approve the work that was done so that another draw could be issued. well, she has now received the check (2nd draw) and she is playing games... i recently went out to her property so that we could go cash the check and continue working however, she told me she wanted to cash the check in her bank to use the money as collateral for a loan. i of course refused to do that and it has become quite obvious through the course of several conversations and events that she has no intention to pay me or to have me finish her house. after a long dispute that day, i left the house and returned later to try and work things out. when i arrived to the property, the homeowner had called over the cable guy to install cable and she was moving things into the unfinished house. the house has not been finished nor has she been granted a certificate of occupancy yet, and it is still unsafe for her to live there. i had to call the city inspector to tell them that they were not allowed to live there until the house was finished. the inspector arrived later that day to kick them out and now she is pissed. i have also had to deal with her mom who seems to try and manipulate any and every situation possible. in fact, she seems to be driving the bus in this whole ordeal and most of the time throughout construction process i am forced to talk to her or her son to try and resolve any issues. but again, they just seem to be playing games and not want to pay me or sign over the check so i can be reimbursed for the work i have completed and also finish the house. i have talked to the mortgage company about all of this and they said, "unfortunately, we cannot get in the middle of disputes between the homeowner and the contractor, try and work it out." i have tried all week, and again, it has been nothing but games. i have also recently discovered that my third party authorization to speak with the bank had been removed weeks ago even when everything still seemed fine between myself and the homeowner. also i was informed today by the homeowners cousin, who is a good friend of mine, that the homeowners mother has made several successful attempts in the past to commit fraud and he suspects she might try and cash this check without me. i am owed lots of money and the bank says if we cant work things out to submit a final invoice to them so that they can have on file that i am owed x amount of dollars. they also told me, that the homeowner cannot hire anyone else until she pays me what i am owed and they will put a lien in place. this lady dragged out the claim for 2 years owes the bank about $14,000 in back mortgage payments and now it seems as if she has found a sucker (myself) who was willing to help her out but i feel like i am getting screwed from all angles here and she just doesn't care about anything but the money. the first time the first draw came i had issues with her trying to milk money out of me as well 'for work that was done prior to hiring me' which was total bs because that house was an absolute mess when i got there. one of my big questions is this...why hasn't the mortgage company foreclosed if the homeowner owes them so much money and i have made them aware that she is not going to pay me what i am owed. there will be no money left for her to catch up on her payments once her home is complete and the funds to her claim are exhausted also the house is not complete and she is holding everything up. should i contact the insurance company and let them know whats going on? when we first started this whole process they seemed really irritated with her because she has been taking ages to process her claim. can i contact the authorities? >>> is this insurance fraud? <<< this is all bs and i am beyond frustrated and i don't know what to do. any professional advice would be greatly appreciated. the last i spoke with the homeowners mother they were still pushing me to cash the check at there bank. but i have been informed by the homeowners cousin (my friend) that if i do that, that she plans on running away with the money. the homeowner and her family have been staying in arizona throughout this whole process and only come down every so often to check on progress of the house or when a check comes. someone please help.

I hope that you have a contract (signed by you and the homeowner) which outlines the scope of the work you were to do on the property and the amount that you were to be paid for the work. In terms of whether it is insurance fraud, up to now it does not sound like it. If she signs your name onto that check or is party to someone else signing your name onto that check she will probably be guilty of forgery and grand larceny depending on your state law. Since it sounds like it has been sometime since that 2nd check was received by her, I would contact the insurance company to determine if it has been cashed and if it has inform them that you did not sign the check. The insurance company will work with you and involve the authorities if the check has been cashed. The bottom line of all this situation though is that you need to file a mechanics lien immediately to protect your interests in the labor and materials that you have invested in her home. The bank will not do this for you. The only thing that they will do is foreclose and it is possible that if you have not filed the mechanics lien prior to their foreclosure you can forfeit your rights and lose your money. You need to contact the Recorder of Deeds in the jurisdiction where the house is located and file the Mechanics Lien with them. You will probably need a full accounting of the money that you are owed for work completed to date, a copy of the signed contract and a copy of your contractors license to file the Lien. Make sure that when you include the total amount owed you include the words plus interest in the amount of ____% (include whatever is the maximum allowed in your state for these situations -- where I am it is 18%) until paid in addition to all costs. Most jurisdictions will also have you a execute the Mechanics Lien unto a specific form which the staff at the Recorder of Deeds office should be able to give you and explain how to fill it out. Once the Mechanics Lien is filed, you will need to file a lawsuit against the homeowner within a specific state mandated time frame in order to enforce the mechanics lien. Based on what you have described you will probably have to file a regular civil suit as the amount that you are owed is probably more than the maximum allowed for Small Claims Court. You can file suit yourself, i.e. go pro se (meaning plead your own case without an attorney) but I would advise you to at least pay for a one hour consultation with an attorney that specializes in contract and or real estate law to inform yourself of your specific state regulations. I hope this information helps and wish you the best of luck with this unpleasant situation.