Got a pretty stressful letter today from my bank about falling behind on mortgage payments. Honestly, I knew things were tight but didn't think it had gotten this far yet. I've never dealt with anything like this before, and I'm feeling kinda lost right now.
Has anyone here been through something similar? Is there still a chance to work things out with the bank at this stage, or is it pretty much a done deal once you get that notice? I'm also curious if anyone knows roughly how long I might have before things get really serious (like losing the house serious).
I know talking to a lawyer would probably be best, but money's tight already—ironic, I know. Just hoping someone might share their experience or point me in the right direction. Thanks in advance for any help or insight you can offer.
Been there myself a few years back—definitely stressful, but not necessarily game over yet. First thing I'd recommend is calling your bank ASAP. Banks usually prefer working something out rather than going through foreclosure (it's expensive and messy for them too). Ask about loan modification or repayment plans. Also, check if your state has any homeowner assistance programs—saved my butt back then. Hang in there...it's tough, but you've still got options.
