Legal Question in Real Estate Law in Texas
On September 9,2012,my wife and I placed a downpayment on our house and moved in.Part of our agreement was that I carry Windstorm and homeowners insurance. Well the roof didn't have a windstorm certificate & it didn't pass a windstorm inspection so our Windstorm Insurance was cancelled. On August 21,2014 we had a brand new roof built.But in doing so we totally wiped out our savings. We have since fallen behind 30 days on our mortgage.,Now we have received a letter accelerating the loan.What can I do to protect all the time & money we have invested. Do we just loose the $3500.00
we spent on the new roof
1 Answer from Attorneys
If possible, ask a parent or a friend for a loan for the thirty days you are past due. Then, make sure you make your mortgage payments on time. This will hopefully solve your problem. If not, then contact an attorney.
If you cannot find a loan from a friend or family member, then you should contact your mortgage company. You will hopefully be able to workout a solution with them. If you cannot get on the road to a solution very quickly, then you should contact an attorney. Of course, that will also cost some money. However, you have a decent shot of making that money count.
It is quite possible the mortgage company will request that you stop making mortgage payments. In my opinion, you should not stop making mortgage payments. Again, in my opinion, that only makes one's position worse. It is often easier to come up with one additional mortgage payment than to get a modification.
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