If you tried to work out a payment plan with your mortgage company with no luck, now may be a good time to try again. Mortgage companies have increased the number of employees in their home retention departments and now may be better equipped to assist homeowners... Check out this article from Finance-Commerce.com.
Mortgage foreclosure sales increasingly delayed as federal program offers alternative
by Scott Carlson Staff Writer Finance & Commerce
When Kathy Maloney suffered a brain aneurysm, the incident set her back not only physically but financially.
Maloney, of St. Cloud, could not work for four months, then returned to work on a limited schedule in early 2009. During that time, she fell behind on her $1,200-a-month house payments, and asked her mortgage lender, HomeEQ of California, if she could make half payments a month until returning to work full time.
HomeEQ refused - and last May, filed a foreclosure notice against her. For Maloney, the specter of facing a sheriff's auction sale was not only frightening, but insulting.
"I felt disrespected," Maloney said. "I bought the house in 2000 and I had never been late in paying in eight years."..... Full article at Finance-Commerce.com.
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