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does sc allow you time to catch up your mort pmts before foreclosing?
2 Responses to does sc allow you time to catch up your mort pmts before foreclosing?
Call your mortgage company. They are the only one that can tell you for sure what their policy is. They don’t want your house, they want their money. They will usually work with you if you are showing good faith in making some kind of effort. Good luck to you.
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It varies by state and also depends on what your original mortgage note said. You would have gotten a copy of it at closing.
You will be allowed to make payment during the foreclosure process but once you start missing payments the additional interest and fees charged start to add up like crazy. It’s not just a matter of making those original payments but thousands and thousands of additional dollars that will be tacked on. In a lot of cases, the mortgage company calls the note due in full after so many payments are missed. The only way you can save yourself from losing the house in that case will be to get another loan for the full amount which you probably won’t be able to do because your credit report will already be showing that you’ve defaulted on the original loan.
Call the mortgage company and tell them what’s going on. If you keep in contact with them through the process they will try to work with you in most cases. Good Luck!
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