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trying to avoid foreclosure any suggestions appreciated

Posted on: 03rd Jul, 2009 10:30 pm
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.
Hi myzooof,

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.
Posted on: 04th Jul, 2009 01:01 am
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.
Posted on: 04th Jul, 2009 05:02 am
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