Asked in Home & GardenLoansMortgagesForeclosureMoney Management
What happens when the bank locks your house because you have not made your mortgage payments?
September 10, 2007 12:20AM
The first thing you should do is call the bank--possibly the loss mitigation section. Locking the doors should not have come as a surprise if you have been answering emails and phone calls from your lender. Sometimes, there are things that can be done to get you back on track with the house payments, but you will have to contact them--an attorney, accountant, or consumer credit counseling service (be careful to get a good nonprofit one) may be a good idea.