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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Welcome ddd,
If you are delinquent on your payments, you can apply for a short sale. The lender will go through your hardship letter and decide whether he would accept your request or not. Though your property goes for a short sale, you will have to pay the property taxes till date. If you agree for a short sale, the lender will not ask for payments.
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Procrastination is the enemy of your financial sucess |
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Quandry?
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0.10 Dollars($)
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Post subject: Deed in Lieu |
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Can I see a deed in lieu agreement package? I was a home seller who attempted to help a friend with bad credit. I was retiring and my home was my only large asset. I sold for $235k and bought a smaller home for $185k. The market has tanked both homes. My buyer is behind 3 payments now and tonight we talked and he agreed to consider a deed in lieu and then rent the home back from me.
I really cannot sell the home for what I owe on the smaller home, and I NEED income in order to made the payments on my own home. Anyone? Suggestions? I do not want to ruin his credit or mine, or lose my current home. I am retired, but I could go back to work if the job market wasn't so awful too. |
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ahawk
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0.10 Dollars($)
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Post subject: modification loan |
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| my morgage make me pay 3 months trial that mean s I need ot send $926,00 each month and after that 3 months if I dont miss any payment maybe they give me modification loan but this is only if so that dont ofter any thing and they will keep my money for the 3 monts payment I dotn think is right . what can I do or whrere can I go to ask for help before Igo to forecloce? |
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ahawk
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0.10 Dollars($)
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Post subject: modification loan |
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| I went to Bank america to ask for help im my morgage they say they cant find my morgage loan because my morgage was with Country wide but Contry wide morgace change to Bank america they whent Bankrupsy so I know I need to call Bank america but they dont want to help at all and now Country wide dont asnwer the phone they put home team and they send me papers so I can sign for 3 monts trial for 3 monts but if they say I dont get modification loan they wll keep the 3 monts payments I need we all need to send a lether to the Presicent Obama he nned to know the bank dont want to help they want to hurt people they shoudl say the amount for the payment and not to have to go to a trial I have kids and they are worry that the bank will take our home awy and not place to stay and maybe no to have money for food if we go foreclose and they will make us pay also for attorney fees I dotn think this is right alot of people lost they homes all this is very sad we nned help and the banks wont help . |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Hi,
To Quandry,
I would suggest you to contact an attorney and ask him to draft a deed in lieu package for you. In my opinion, you won't be able to do it yourself. The attorney will help you in understanding the details of deed in lieu as well.
To ahawk,
It is very important for you to make the payments on right time during the trial period. If you don't do so, the lender will foreclose the property. You are liable to make the payments as you've taken the loan.
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POP
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0.10 Dollars($)
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Post subject: FORECLOSURE FINAL JUDGMENT |
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| CAN I SEEK COURT PROTECTION,IN TAMPA FL,IS THERE ANY PROGRAMS THAT CAN HELP |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi POP,
You can get court protection against lender in case of unemployment and underemployment. However, it would be better if you could contact an attorney and get his opinion in this regard.
Thanks |
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HENRY.TAYLOR2@ATT.NET
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0.10 Dollars($)
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Post subject: LOAN REDUCTION |
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| my current loan is $416,000 but my property is worth $150,000.How can I get my lender to reduced my mortgage to $150,000 |
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HENRY.TAYLOR2@ATT.NET
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0.10 Dollars($)
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Post subject: LOAN REDUCTION |
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| can I write a hardship leter to my lender requesting a loan reduction. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi HENRY,
You can definitely write a hardship letter and request for a principle reduction. You should explain your financial crisis clearly when you write the hardship letter. It depends upon the discretion of the lender whether or not he would accept the request for principle reduction.
Thanks |
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Ivan DeLeon
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0.10 Dollars($)
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Post subject: |
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I've seen alot of people hurt by the foreclosure crisis. Recently I've created a website that will help people use their rights and fight back. The most important thing to do is STOP THE SALE! When someone misses a payment they have to send letters requesting their documents, but not just any letter they have to site the federal statute. If they're in a judicial state, file an answer, if in a non juducial state, file a lawsuit. Forget loan mods, I've spoken to people high up at the bank (Chase), there's an Obama line and they'll even answer it, but they'll ask you to fax your info to them. The only problem is the line is always busy! Make the bank stand by what they say they're going to do.
[Email address deleted as per forum rules. Thanks.] |
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Ivan DeLeon
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Post subject: |
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Here's that letter, good luck:
[System detected duplicate content, converted into image. Thanks.]
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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just curious, ivan...what are your credentials? what position do you hold that provides you with such expertise?
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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daviddoten
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0.10 Dollars($)
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Post subject: can you do your own loan modification? |
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I think people should learn to do thier own loan modification to get out of trouble instead of paying thousands in fees to get others to do it all for you!
you can learn more ...
http: //loan-modification-kit.blogspot.com/
(copy that in your browser without the space and see)
peace,
David |
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Leon
Guest
0.10 Dollars($)
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Post subject: Live In Home |
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| Am i to understand that a person has to live in the home for the length of the mortage or face foreclosure. |
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