Options that were maybe offered you?
1. Loan Modification?
2. Deferred payments?
3. Maybe a refinance?
4. Might qualify under some new lawsuit from government?
These would be great if the other party (these are only examples: Bank of America, Wells Fargo, Chase) wanted you to succeed.
I have read a lot about these options that have been offered by who "the companies that you have been paying the mortgage payments too of course".
Did you know?
1. Under loan modification, if your loan is in a security backed trust the PSA (pooling and servicing agreement) doesn't allow your loan to be modified. Well guess what, the company that you pay your mortgage too probably told you to fill out paper after paper, send money etc. then we will modify your loan. They don't have the power to do this. They can do a refi with them and pay off your loan with the trust, but they haven't been doing that either.
2. Majority of the time they still want a sum up front then they say they will move the past due to the back of the note. Most of the time they take your money then still foreclose.
3. If you are in trouble with past late payments they won't even consider this.
4. You started modification some time ago, now they say you don't qualify and you are to start papers for some government program now available to you. They still can continue with foreclosure.
What is an option is that under the Bankruptcy you have the possibility to move your mortgage payments (debt) to the unsecured area. If I had known about this I would have done it.
You may also have possibility stop them without filing Bankruptcy. Stopping them from foreclosure can be done without filing bankruptcy.
Once again this has to be done with an attorney that knows what they are doing in this area. The documents filed on your title have to be read and assessed by someone who knows how to do this.
Bank of America, Wells Fargo, JP Morgan Chase