Q: Whats are my next options if any?
I bought my home back in 2004, with 2 loans (20% & 80%)… 2010 I made a loan modification to combine both loans. I started paying one single payment. In may 2021 I got a default notification and my home has been foreclosed now because the loan modification was made on only one of the 2 loans (80% one). How can this take 10+years?!
A: the loan is secured on the property which means they can foreclose at any time, even 10 years later. to avoid foreclosure, you are going to need to pay the balance due in a lump sum, negotiate the payments due, or file a chapter 13 bankruptcy and do a payment plan to catch up to avoid foreclosure.
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