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Mobile Home Repossession

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Anne Guest	Posted: Thu Mar 19, 2009 4:55 pm    Post subject: Mobile Home Repossession Like 0 Dislike 0 I live in California and due to health issues I've been delinquent in my mortgage payments. In the Notice of Default it gave me until March 16th to pay the $1334.00. I did pay that amount in February; however my February payment is past due and I'm unable to pay it until the 27th of this month. When I spoke with my lender they said there's nothing they can do and when will I be out of the home. I don't have family to borrow from. Are there any other options that will allow me to remain in possession of my home? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Thu Mar 19, 2009 8:17 pm    Post subject: Like 0 Dislike 0 Hi Anne, You can speak to the lender about a loan modification. The lender will judge your financial situation and decide whether he would accept your request or not. In this process, the lender will give you a alternative repayment plan to pay off the mortgage dues. The lender may reduce your interest rate but increase the term of mortgage payment. However, while giving you the new payment plan, the lender will add up the past due amount with your new plan which can increase your monthly payment. Thanks

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