I tried for month to contact my mortgage co to let them know i could not afford the payment on my ajustable mortgage i faxed a copy of the hardship letter to them and finally got an answer today they said they are working on a loan mod could take 2weeks to month does this stop the forclosure and should I answer the court with these facts
No, it most sefinitely DOES NOT stop the foreclosure, even if the people at your mortgage company tell you otherwise. Furthermre, they are often way off in their time estimates of how long the processing of a loan mod may take, and it is often far longer than they tell you. Worse yet, IF and WHEN you get the terms they are willing to give you, if any, they are usually not good - in some cases, the payment actually goes UP.
Filing an "answer" with those facts would be useless, as those are not facts which provide any legal defenses to foreclosure. In fact, they serve to admit the debt, meaning that the court would be likely to grant them summary judgment when they ask.
You need a QUALIFIED foreclosure defense attorney. Most borrowers actually DO have defenses that can be raised to interfere with the foreclosure, but you will not know what those are or how to articulate them.
Check the web site of the National Association of Consumer Advocates, www.naca.net - there is a geopgraphical listing there of consumer advocate attorneys which shows their areas of specialty.
The frustration you may be feeling is understandable. Generally, your attempts at loan modification will not automatically stall a foreclosure action. Therefore, you should not just ignore the law suit. You should contact an attorney who handles foreclosure actions and matters relating to loan modification without delay to determine your best course of action. If you don't know how to locate an attorney who handles these matters, you should call the FL Bar Referral Service at 1-800-342-8011 for assistance.
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