This is bad. You may need to transfer to another lender and they would possibly give you a mortgage but with a higher rate. This is an agreement you did with the lender - pay your mortgage on time. Late payment once is not an issue if you talk to them but frequent late payments - you are lucky they did not call in the mortgage as say you are in default of your mortgage. Default means they can start the foreclosure process. If you are in Ontario and you have debts beyond your income, call me and maybe we can restructure your mortgage and debt payments to a more affordable payment program.

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I'm only 16, and i don't know much about law yet, but i thought i would try to understand a little better. this is kind of long, so please only read if you intend on helping. my parents bought a house back in 2001 for $33,000 outright and clear. it was a piece of crap, but had 17 acres, so they thought it would be a good investment. my dad is a contractor, and for several years he would do jobs for other people, fixing our house little by little as he could. in 2006 a man that my dad had had dealings with before offered him a deal. if we put his name on a 3rd of the title, he would pay for the materials for our house, pay us labor money when it sold, and would get half the profit when it sold. so we moved out and rented a small place while work was going on. but as it turns out, the guy borrowed $230,000 against our property. the bank (washington mutual) authorized a construction loan of what the estimated future value of what the house would be. i know it is illegal to do that when the house isn't your main address and the one you live at. the loan wasn't under my parents name, and had nothing to do with us. overall, the guy paid us $75,000 for materials on the house, and spent $155,000 on vacations, cars, and other jobs. -_- all the money was supposed to go towards this one property. so basically he took the equity out of our house, and turned around and paid us with our own money. after two years of working hard on this place, we get a call from the guy saying he is out of money, we're not going to be able to finish, he's months late on the mortgage payment, and he's declaring bankruptcy. all of this, and we still haven't been paid for labor ( i did quite a bit too). immediately my mom slapped on a contractor's lien against the house for $257,000. we didn't have the $1,500 to foreclose on the house, so the bank decided to wait us out until it expired, then try to foreclose on it. so now our only option is to file a lawsuit against the guy, and now (chase) bank for fraud and damages. chase refuses to speak with us because we our not on the loan, yet they're trying to take our house. don't get me wrong, we are not sue happy people. we are people who have been screwed out of two years of work, and now cannot even afford to renew our bonding and insurance, so my dad can't work. my mom has had many medical disasters because of the stress of this. including numerous surgeries for collapsed arteries and strokes. i am the main money maker as of right now, with my part time job at mcdonalds. we have also spent the past year guarding this house and maintaining it from vandalism. we can't afford to hire a lawyer, and none are confident enough to step up to the bank. so my mom has taken legal action of her own. she is filing a lawsuit and complaint, and is going to be representing herself in court. what we want is just the title to the house free and clear. so what do you think is going to happen in the end of this?

Honestly, this question is above the realm of expertise for people on Yahoo to answer. You guys need to contact a lawyer ASAP. The whole situation is horrible and I am very sorry this has happened to you. Please contact an attorney or your states legal board to get a recommendation because the sooner someone can act on this for you the better. Good luck.