I live in the state of MS.My mortgage lender forclosed on my property without the loan being 3 full payments behind.According to a print-out given me today,the loan is 58 days late with a total amount due of 2468.65,including 412.82 late fees,and a required monthly payment of 1033.73.The loan was forclosed on 8-7-09 eventhough a payment of 900 dollars was made on approx 8-4-09.The lender is also paying forced insurance in the amount of 110.00 dls per month,and has been doing so since May of ‘06,but this amount is not reflected on the total amount due. Our mortgage is adjustable and was scheduled to re-adjust on 09-09.We tried to work out a payment plan and faxed a hardship letter to the bank on 7-7-09, requesting to modify the terms of our mortgage.The lender refused to honor this request on the basis that theirs was a privately owned bank that didn’t participate in the bank bailout program.How could the bank foreclose with the borrowers being 3 full payments late.What can we do?
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I live in the state of MS.My mortgage lender forclosed on my