bankruptcy and mortgage payment

September 20th, 2007 by Questions

Hi I stop doing more payment to my mortgage I’m one month past due payment I’m not answering any phone call and I think I’ll fill bankruptcy what the next step for the bank are they will send me letter notice give 35 days to leave or what they will do please and thanks for the help .


One Response to “bankruptcy and mortgage payment”

, Barton Goth GCO Bankruptcy Trustees said:

The exact practice will depend on how long you have been in default, the relationship you have with the bank, what type of information has been provided to the bank and the banks interal practices.

Essentially you are right on the next step, they will issue a demand notices and likely it will be combined with a notice of their intention to enforce their security right. This notice will provide a time frame, which has to be at least 10 days but can be longer depending on what was written into the mortgage. Once this timeframe has expired they will be able to proceed with forclosure.

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