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…
Related posts:
