Foreclosure: 30 Day Notice Questions?
It's finaly arrived, a 30 day notice from Wells Fargo's Attorneys. It begins by saying "Your mortgage with below referenced Creditor/Servicer has been referred to us for Foreclosure". And goes on to say "Unless you, as the consumer, within 30 day after receipt of this notice, duspute the validity of the above referenced debt or any portion thereof ,the debt will be assumed valid." My questions, are they saying they will file for Foreclosure if they don't here from me within 30 days? When was I in recept of this letter? It is dated April 25, and wasn't sent registered? Is the receipt date caluated?
Answer:
The letter probably also says that even if you dispute the debt, that does not mean that they will not take further action before the 30 days is up -- they can. The exact receipt date, etc. isn't going to make any real difference. If you talk with a bankruptcy attorney in your area you can find out if a Chapter 7 or Chapter 13 filing would help you. The attorney might have other suggestions based on you overall specific circumstances. Actually, it means that unless you pay the full amount of the arrearages soon, they will file for foreclosure.
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