Miami, FL asked in Foreclosure and Real Estate Law for Florida

Q: Urgent help needed foreclosure

Good morning,I have a reverse mortgage that defaulted due to not paying taxes on time.I set up a payment plan and defaulted on the payment plan due to a misunderstanding even though I had the money.I did not know where to send the payment,and the servicing company was not helping.They do not want to put me on another plan now and are asking for the whole amount.I have the money to pay it little by little.I am wondering if there a program or anything to get a loan to pay this default off and pay the loan little by little.

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1 Lawyer Answer
Jennifer Isaksen
Jennifer Isaksen
Answered
  • Foreclosure Defense Lawyer
  • Bushnell, FL
  • Licensed in Florida

A: Reverse mortgages are a bit tricky and usually more difficult to work with. The problem you are facing is your mortgage company has no legal "duty" to modify your loan or give you a 2nd chance after you have defaulted, but they should act fairly, especially when it was an honest mistake. I would recommend that you consult with an attorney to write a letter and get you on a payment plan you can afford. Best of Luck! Jennifer

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