Can the mortgage company repossess my house even though I am only behind on the payments by 2 months?

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Can the mortgage company repossess my house even though I am only behind on the payments by 2 months?

I have talk to the company again today and they said if I do not send the 2 payments by the 29, they will start the repossession process. They want me to send them the house notes from our income tax return. I told them my husband is going to buy a truck with it so he can get away from the job he is currently working at. I am sending them one full payment from his paycheck on Friday or Saturday. However they still want both payments by the 29th. Also, I have been behind on payments for the most part since we bought the house. Does that factor in?

Asked on February 23, 2012 under Bankruptcy Law, Louisiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Most likely the lender with respect to your home that has a security interest in it by way of a mortgage or a trust deed can initiate foreclosure proceedings by a way of a notice of default on your home due to you being two months in arrears.

The best way to ascertain what the lender can do is to carefully read the mortgage or trust deed recorded on your home. I suggest that you try and reach a written agreement to make up the arrears owed over time and to stay current on your loan. You might consider consulting with a real estate attorney about your situation. I recommend that you cooperate with the lender concerning your matter.


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