Voltaire's Child
Fool on the Hill
Scared Stiff, I work with foreclosures and have for years both as a banking officer and on the trustee side. If you've any questions, plese feel free to ask me.
There are some moratoriums by several major banks right now that run through 03/09/09. Also Fannie Mae has some moratoriums as well.
There are also loan modifications people are working out with their lenders but the thing about them is that the banks are a bit swamped with proposals like that and it takes upwards of 90 days sometimes to get one reviewed and decided upon. So if you can "reinstate" (put your loan back, current payment-wise) your mortgage/deed of trust loan now, then that will buy you some time. There are also "forebearance" and "loss mitigation workouts".
There are some moratoriums by several major banks right now that run through 03/09/09. Also Fannie Mae has some moratoriums as well.
There are also loan modifications people are working out with their lenders but the thing about them is that the banks are a bit swamped with proposals like that and it takes upwards of 90 days sometimes to get one reviewed and decided upon. So if you can "reinstate" (put your loan back, current payment-wise) your mortgage/deed of trust loan now, then that will buy you some time. There are also "forebearance" and "loss mitigation workouts".

