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anything my FIL can do to save his house??


dolphindan1
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My father in law who is now on disability has had a rough time of it....He is currently 3 months behind on his mortgage. We have tried to del with the mortgager...Saxon to help get him current. they told my wife yesterday that they have already sent paperwork to lawyer and she would have to pay all past due amounts, lawyer fees and late fees....which comes up to about 5200 dollars and then she would have to pay about 500 over the actual mortgage payment for the next 9 months and if she missed one they would sell property....We have sent them a few partial payments in the past but they always return them. We are in SC and have had no luck with this company working out payment options...I dont understans why would would have to pay so much....his payment is only like 750 bucks....why would we have to pay lawyer fees now to get him current.....any advice on this situation....

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If you are under 70% LTV then maybe Charles can help your father-in-law with a foreclosure bailout or you (or another loved one) could purchase the home from your FIL and lease the property back to him (or do a contract for deed). After 12 months of rent payments, Charles could refinance the loan back into your FIL's name.

Otherwise Ch 13 bk offers protection.

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How can I get a hold of Charles...With these late payments and him being on disability....You think something can still be done with that....His disability check doesnt quite cover his loan payment...My wife and I have been making up the difference....He was ok till the rate went up....He made enought to cover the payment...We hate for him to lose his home....and Saxon has been no help and horrible to deal with....they might be the rudest people we have ever dealt with...anyway...i thought under chapter 13 his income would have to be anough to cover home and utilities...all he has is water and power...he doesnt drive or anything....

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How can I get a hold of Charles...With these late payments and him being on disability....You think something can still be done with that....His disability check doesnt quite cover his loan payment...My wife and I have been making up the difference....He was ok till the rate went up....He made enought to cover the payment...We hate for him to lose his home....and Saxon has been no help and horrible to deal with....they might be the rudest people we have ever dealt with...anyway...i thought under chapter 13 his income would have to be anough to cover home and utilities...all he has is water and power...he doesnt drive or anything....

Charles runs the mortgage section here on CIC. His website is...

http://www.bestmortgageinfo.com

Maybe someone with more bankruptcy experience on this board could chime in - or better yet, post that in the bk section of this site.

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Do you have a homestead act in your state? Would this be one of those situations that someone could benefit from it? Please excuse my ignorance if it doesn't apply, I'm just throwing something something out there that hasn't been brought up yet. This is a sad situation and I hope he can stay in his home.

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My father in law who is now on disability has had a rough time of it....He is currently 3 months behind on his mortgage. We have tried to del with the mortgager...Saxon to help get him current. they told my wife yesterday that they have already sent paperwork to lawyer and she would have to pay all past due amounts, lawyer fees and late fees....which comes up to about 5200 dollars and then she would have to pay about 500 over the actual mortgage payment for the next 9 months and if she missed one they would sell property....We have sent them a few partial payments in the past but they always return them. We are in SC and have had no luck with this company working out payment options...I dont understans why would would have to pay so much....his payment is only like 750 bucks....why would we have to pay lawyer fees now to get him current.....any advice on this situation....

Try visiting their website at www.saxon.com

They have a section called "financial hardship" that he should try. Being 3 months late I'm still surprised they wouldn't work with him...unless he's at a point now where he can't afford the house anyway. I'm really sorry, but I'm in a similar spot. :( Tell him he isn't alone.

Elyse

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