Jan
10
Where to go for help on Mortgage?
By
If your lender only has one plan that you don’t agree to, if HUD says that you have to be behind at least 4 months, and your arrears is keeping you from obtaining a small loan, what do you do, besides wait for foreclosure?
Real Estate Professionals
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4 Comments
April 19th, 2009 at 4:28 am
Find an attorney. Fast. He or she will give you a couple more options.
April 19th, 2009 at 6:00 am
sometimes, the only answer is the one staring at you in the face… If you cannot pay your mortgage, then you will go into foreclosure.
Only other options would be to put your house on the market and if you have any equity to salvage as much of it as possible so you end up ahead. However, if you’re upside down on your mortgage, chances are, you will be foreclosed on as it won’t sell for how much you owe.
You may be able to do a short-sale too… where the bank allows you to sell the house for less than what’s owed and they may forgive the mortgage balance.
you’re not alone on this…. they say that 20% of Americans are upside down now due to the dramatic fall in housing prices over the past year. That number will probably grow to 30-40% by the middle of next year.
April 22nd, 2009 at 4:48 pm
I do loan mods for an attorney and you can call me. id be happy to help you. you can also email me. we are registered w/ the BBB with no complaints, and haev been doing this for over 20 years and have never had a client lose their home after hiring us. You can look us up so you know im not a scam. Please ask for me, Marissa, if you call. You can reach me at 813-454-4795 or. Thanks!
April 23rd, 2009 at 8:02 pm
Your behind and looking for a small loan? Heck if they foreclose you definitely will not be getting a small loan. Next question is if you cannot pay your mortgage why in the heck are you looking for a loan you are obviously over you head to begin with. Yes this is who I want my tax dollars to help with their mortgage. Cannot make that but want to go further in debt. If lender has offered to help, and make arrangements, but they are not up to what you want, guess what you deserve to lose your home.