Ask Betty… Kokomo Foreclosure Question
By
Kokomo House in Foreclosure -
Notice of Howard County Sheriff’s Sale
Dear Betty,
My son and his wife just informed us that his Kokomo home is going on the Howard County Sheriff’s sale. He has to be out of his house by November 19th. Is there anything that can be done to help these kids and their children??
Concerned Mother and Father
Dear Concerned Parents,
The number one question to ask your son…
Has he talked to his lender? If not he needs to talk to his mortgage company immediately to see if they will work with him. Some lenders will accept partial payments or even modify the terms of the loan!
Another possibility is for him to contact the Indiana Foreclosure Prevention Network. This is a program set up by the State of Indiana and the Indiana Housing and Community Development Authority to help Hoosiers who are facing foreclosure. They offer free, unbiased information and confidential counseling. You can visit their website by clicking the link above, but he should call their toll-free number immediately! 1-877-GET-HOPE
Honestly, since the sale is already scheduled, it may be too late for your them to save their house. This is not something that just happened. The foreclosure process in Indiana takes several months and can even take more than a year from the start of foreclosure proceedings to the sheriff’s sale.
Please let me know how this turns out.
Betty
Note 1:
Because of the urgency of this question, Concerned Mother and I also had a phone conversation.It seems her son had tried to take care of his financial troubles by going to a credit counselor. The son was writing monthly checks to the credit counselor who was supposed to be making the house payments. Well, it ends up the credit counseling was a scam! The payments were not made and now son and wife may lose their home.
Let this be a lesson of caution to you… If you are in trouble financially, be very careful about credit repair or counseling companies. Many of them are scams!
For guidance in finding a reputable credit counselor, the FTC offers several suggestions.
Note 2:
If you or someone you know is having financial problems, there are ways you may be able to avoid foreclosure. But please, act immediately!
Call me at 765-513-0354 or send me an email. I want to help!
For answers to your questions, click Ask Betty…
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2 Comments
April 4th, 2010 at 10:56 pm
Betty,
I am the Technical Director for the Indiana Foreclosure Prevention Network. I appreciate you taking the time to point folks to the 1-877-GET-HOPE phone number. This is the best way in Indiana that Hoosiers can get free assistance by a state trained and certified foreclosure prevention counselor. I ran across your response to someone who wrote into you in the past and I wanted to add a thought if I might. This is in reference to a person writing in about their son’s home going to sheriff sale. You were so correct in letting them know that by the time it is up for sheriff’s sale it may be well too late for anyone to help. But one thing you mentioned was that the person had been working with a “credit counselor” and was sending payments to them and they did not forward the payments to the lender. You were so correct in saying this was a Scam. This is a very big problem in Indiana that folks need to be aware of. If anyone trying to assist you with your mortgage asked you for money this should raise huge red flags. The state of Indiana offers foreclosure counseling at no cost for Hoosier homeowners. Anyone who asks for money is more then likely a scam. If anyone has sent money to one of these folks for “help” they should immediately contact the state’s Attorney General’s office. This is the only way we are going to keep these vultures from taking advantage of our fellow Hoosiers.
Keep up the good work and thanks again for pointing folks toward the Indiana Foreclosure Prevention Network (IFPN) 1-877-GET-HOPE.
Rog
Roger Rayburn
IFPN Technical Director for the
Indiana Housing Community and Development Authority
April 5th, 2010 at 7:38 pm
Rog -
Thank you for your comments. I know from speaking with Lucinda Sehy in the past that you and your organization have helped a lot of people work with their lenders.
Keep up the great work!