You really need to contact an attorney/law firm that specializes in foreclosure defense because six years is usually the most amount of time one would see before having a property sold at auction. With an 18% penalty interest rate, it sounds like the loan in question was either: (A) a commercial loan; (B) a loan originated with Tribeca Lending; or (C) a loan originated with Emigrant Mortgage.
If any of the above assumptions are correct, you may have limited options to resolve this matter amicably (i.e. via a loan modification) and again, I cannot stress enough the importance of speaking with and/or retaining counsel to represent you in the foreclosure action.
Feel free to follow up with any further questions, comments and/or concerns relating to this matter.
I agree with my colleague. Reach out to a foreclosure attorney immediately. Do you know what's going on in the foreclosure action? what stage is it at exactly? have there been any assignments of your mortgage? These are all issues that need to be address.
Bring all of your paperwork to a foreclosure attorney immediately. Best of luck.
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