Motion for Partial Judgement in foreclosure case?

[vettegirl]

We obtained a loan modification with CW, but the payments once taxes and insurance were added were a bit high, and then I was forced to take 1 unpaid day per week at work for a period of time, so payments on loan mod fell behind already. :( Yesterday I was looking at the case file online and noticed someone had filed a Motion for Partial Judgement in the original foreclosure case filed March 2008 - unfortunately I don't know which party (1st, 2nd or HOA). I did find this info online, is anyone familiar with what may be going on here? Thanks!

Partial Claim - The mortgage company may be able to work with the homeowner to obtain and interest-free loan from HUD to bring the mortgage current. When the mortgage company files a Partial Claim, HUD will pay the mortgage company the amount necessary to bring the mortgage current. The homeowner must execute a Promissory Note, and a lien will be placed on the property until the Promissory Note is paid in full. The Promissory Note is interest free and will be due if the property is sold or when the mortgage matures.

[vettegirl]

More info. Is this a new program, I have never heard of this. Could be very helpful to some if I'm not missing something.

http://www.hud.gov/offices/hsg/sfh/nsc/faqpc.cfm

[Wannabe debtfree]

I had a partial claim with Countrywide that was completed in March It took about four months to complete it. If you have a FHA 1st mortgage this may be available to you. it is an interest free loan to bring the loan current. No payment is due until the home is sold or the mort. is paid off. I would call CW to see if it applies to your case.

It saved my home.

[vettegirl]

I had a partial claim with Countrywide that was completed in March It took about four months to complete it. If you have a FHA 1st mortgage this may be available to you. it is an interest free loan to bring the loan current. No payment is due until the home is sold or the mort. is paid off. I would call CW to see if it applies to your case.

It saved my home.

I'm a little confused since I thought I had a conventional loan - I know my original mortgage was conventional because the amount exceeded FHA limits at the time, but when I refinanced with Countrywide maybe it was an FHA loan? I feel a little stupid. :)

Anyway, did they send you a letter or anything to let you know they were doing this? I haven't heard anything from them, but from what I can find on partial claims on the internet I think this is all it could be???

[amortgageman]

Filing a partial claim has always been an option with FHA. This is what the PMI payment is supposed to do. It could also be the case on a conventional loan as well, especially if the loan to value was above 80% and you had MIP insurance, which is similar to PMI except through Radian or another insurer.

I think we are getting a little confused here, since you mention a Partial Judgment and not a Partial Claim. A Partial Judgment IMHO would be a judgment filed if one of the mortgage companies had to charge off part of or all of the mortgage note.

[vettegirl]

A Partial Judgment IMHO would be a judgment filed if one of the mortgage companies had to charge off part of or all of the mortgage note.

That would make a lot more sense.