DEAR BENNY: I am having problems with my mortgage. I fell on some hard times lately and fell behind on my mortgage payments. My mortgage lender has been dragging this out for over a year. I have been set up on two separate trial payments and made them both with no problem. Now my loan has gone into foreclosure. The lender keeps telling me that I am under review. Can you tell me what options I have to try to keep my home? –Hodges
DEAR HODGES: During the recent winter season — with snow and lenders having legal problems when they did not have the original promissory note — the foreclosure rate throughout the country fell. However, with spring on the horizon, lenders are back to foreclosing.
Unfortunately, your situation is all too familiar. Lenders arrange payment plans, whereby the loan is modified, and even if the homeowner is diligent in making the requirement payments, suddenly the lender issues the foreclosure notice.
Communicating with lenders is often next to impossible. You have to call a phone number, and if you are lucky, you will finally get to talk to a real, live person. But that person often has no real authority, and if they see that you are now in foreclosure, you are told to talk with the attorney handling that procedure.