Posted: Fri Jul 03, 2009 10:30 pm Post subject: trying to avoid foreclosure any suggestions appreciated
I should be receiving 42k in income tax refund within 3-4 weeks from now. I only need 19K to reinstate my mortgage. Are there any types of loans I can get to help bridge the gap between now and when my income tax refund arrives? It would be such a shame to loose my home and then a few days later recieve my refund.
Before taking a bridge loan, I would suggest you to contact your lender and inform him about your situation. You can negotiate with the lender so that he gives you a time limit to pay off the loan. This will help you to pay off the loan without taking a bridge loan. Bridge loans have higher interest rate, points and other costs that are amortized over a shorter period. _________________ Procrastination is the enemy of your financial success
yes, adonis is right. explain your condition to lender & ask some time from them. it is in their interest as well. don't forget that they are interested in getting theit money back not in giving trouble to you.
myzooof6
