If my house is being foreclosed and my mom’s credit isn’t good enough for a loan, how can I help save our house?

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If my house is being foreclosed and my mom’s credit isn’t good enough for a loan, how can I help save our house?

My mom’s hours at work were cut severely and she has been getting behind in bills and mortgage payments. We got the foreclosure notice 2 days ago and she doesn’t even have enough money to pay for a lawyer to file bankruptcy. I’m 17.

Asked on December 8, 2011 under Bankruptcy Law, Pennsylvania

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Your mom needs to contact the lender or servicer of her loan and ask to stay the foreclosure while she applies for a forebearance or a mortgage loan modification (hopefully a HAMP modification). Do not take no for answer. Simultaneously, have your mom call the department of financial institutions or banking in the state in which you live to file a consumer complaint and hope they can help stop the foreclosure while your mom applies for the modification. Your monm needs to be diligent about the modification paperwork and needs to also consider getting that department of financial institutions involved to process it quicker.


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