Legal Question in Real Estate Law in West Virginia
Foreclosure upon refusing my payments
Question.
Upon losing a job and falling behind on Mortgage a Mortgage Bank refused to modifying th epayments or provide asistance beyond the words "Borrow The Money From Relatives". Unemployement was less than monthly Mortgage and Partial Payements were attempted. Borrower eventually finds employmment but has slipped three months in arrears due to partial paying. Bank sends back all future payments demanding payment in full plus late chargees. Due to refusal of payments by the Bank Borrower is now 10 months in arrears. Can Bank legally foreclose? Can Bank come after Borrower for legal costs? Can Bank legally have refused payments made each month even if full amount owed not included and hwne included if full amount in arrears not made ie borrower paid month plus 25% hoping to catch up in four months and bank refused payment. Does Borrower have any leagal options or protection?
2 Answers from Attorneys
Re: Foreclosure upon refusing my payments
Get a good bankruptcy attorney quickly before the bank files foreclosure. All your questions are answered in the loan documents. Bur, I would say yuou are in trouble.
Jeffery Hess
Hawkins-Smith
3309 Chuckwagon
Re: Foreclosure upon refusing my payments
The bank does not have to accept anything less than payment to bring the loan current, and can foreclose.
If you cannot now bring it current but can make the regular payment plus something towards the arrears, you can file Chapter 13 bankruptcy and cure the arrears through your bankruptcy plan. See an experienced Chapter 13 bankruptcy lawyer in your community.
Daniel Press
Chung & Press, P.C.
6723 Whittier Ave., Suite 302
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