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how to get a notice of default? Do you have to be 90 days consecutive OR ....?
I have been having a hard time paying my mortgage, so I want to dodge the notice of default by paying my mortgage every other month for the next 9-10 months until I get my education completed and can re-fi the house (it's an adjustable). So is it 90 days total or 90 days consecutive. I have been current for the last 3 1/2 years, and for the last 6 months I have had to beg, and borrow to feed the family and make my mortgage. I am currently late for the first time.... and for the first time and 6 months I feel great and awful all at the same time. I do not want to be another statistic, I have a high FICO score, now a terrible debt to income ratio, and can't breath anymore. I bought this house with 20% down ($115,000) made a great living, and now I am scared to death of failing my family. I HAVE called my lender, and they tell me to get with a debt counselor, and as long as I am not behind I am doing fine.
1 Answer
- Anonymous1 decade agoFavorite Answer
Go to the debt counselor - and call you lender and request a loan modification. Complete the loan modification paperwork, furnish all of the required documentation.
When you fall 30 days behind, you'll get a Notice of Default, if you pay the "next month's" mortgage, it'll apply to the late mortgage. And you'll still be 30 days behind. If you miss the next month's payment, you'll now be 60 days behind. When you make the next payment, it'll apply to the first 30 day late payment and you'll still be 60 days behind ... and so forth.