Ask Kate Homeowner Foreclosure Question

by Brenda Gray
(Richmond, VA)

Ask Kate Homeowner Foreclosure Question And Answer
My sister and I own our house together. We each pay half of the mortgage. We are now one month behind for September which we will pay this week.



We had a call today saying if we did not pay today the mortgage company, they would start foreclosure proceedings.

Can they do this after only one month's lateness?

Ask Kate Homeowner Foreclosure Question and Answer


Dear Brenda,

After a homeowner is late on one payment, late fees and/or additional charges begin to be added by the mortgage company.

In order to avoid that becoming a regular occurrence, the #1 most important thing is to bring your monthly mortgage payments current and continue paying them on time.

If this is not possible, call your mortgage servicer today. Explain you want to prevent foreclosure and ask what you can do. Ask about their foreclosure help alternatives.

Some homeowners are confused about who to contact. Refer to Stop Foreclosure Now for tips to locating a lender.

Explain you do not intend for this to progress into foreclosure proceedings and ask what they require for you to stop mortgage foreclosure.

Best Wishes,



Your Online Mortgage Advice Friend

P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

Return home from Ask Kate Homeowner Foreclosure Question

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get Your Best Mortgage Rate.

Click here to post comments.

Join in and write your own page! It's easy to do. How?
Simply click here to return to Contact Kate With Your Mortgage Question.

Grin and Bear It!

Get-Your-Best-Mortgage-Rate.com is getting a facelift!

Please bear with me! The content is identical so continue to browse. I'm working as fast as I can to finish up!

I'm grinning. Hope you're enjoying the new look too!

Your friend,
Kate Ford

You Can Own My Brain

Lock Answers by Kate - Learn the nitty gritty inside story of locking your mortgage rate.

Refinance Answers by Kate - Refinancing brings out opinions, for sure! Get the facts here.

Answers by Kate For Seniors - Reverse Mortgage, the unique income answer for retirees.

Home Buying Answers by Kate - Learn how to buy a house. Unusual facts to aid your home buying experience.

Credit Answers by Kate - Improving credit could change your life. Find how to get more than temporary results.

FHA and VA Answers by Kate - Clear the fog. The low down on VA and FHA loan requirements.

PMI Answers by Kate - Private mortgage insurance, friend or foe? Do you know how to get rid of it?

ARM Answers by Kate - Do you have an adjustable rate home mortgage? You can ask Kate for help.

Loan Modification Answers by Kate - Unique help for modifying your mortgage. Make sure you don't miss this.

Website Answers by Kate - Yes... Readers even ask Kate how to build a website.