Facing Foreclosure after modification, down payment, and first payment were made. As instructed by my mortgage company.

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Facing Foreclosure after modification, down payment, and first payment were made. As instructed by my mortgage company.

Sent my first payment of specified amount in first clause of mortage agreement. I also called and checked with csr to insure I was sending proper payment. Payment was returned to me stating insufficient funds to satisfy default amount. So, I called explained that was amount I was told to send. New agent said just add required amount and send back to us. I did just that, received both money orders back with same insufficient funds letter. Now, I have notice to appear in court on 6/15, is this legal?? If so, what do I do?

Asked on May 26, 2009 under Real Estate Law, Florida

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I think you need to take all of the paperwork to a real estate lawyer in your area.  If you don't already have counsel, one place you can look for an attorney is our website, http://attorneypages.com

It sounds like you have a modification agreement in writing, and if you have made the payments as required, I would hope the court would make the mortgage company accept them and honor their own agreement.  Also, foreclosure is what is called an equitable remedy, and equity requires fairness and good faith before its remedies can be used.

Please, don't try to handle this on your own, because you can be absolutely certain that the mortgage company will have a lawyer on the other side of the courtroom, and he or she will know all the in's and out's.  I'm sure money is tight for you right now, but you have too much at stake to afford a mistake here -- you might not get a chance to fix it.


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