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isacmar55 · Joined: 04 Oct 2007 Posts: 25 15.21 Dollars($)

I have tried everything with the mortgage companies ASC/
wellsFargo and the Foreclosure Attorneys they hired, Trott & Trott and they will not work out anything with me. Trott & Trott said they can't help me because I'm not invested by Fannie Mae or Freddie Mac. WellsFargo said they can't help me. I spoke with realtors regarding a short sale. I have both a 1st and 2nd mortgate. I don't like the idea of either companies coming after me for more money if the condo don't sell for what it's worth. By the way, the 2nd mortgage is paid up to date, the 1st has 6,000 plus owing plus attorney fees. I filed Bankruptcy Chapter 13 with an attorney today but he will not file until tomorrow. My house is scheduled for sheriff sale on Thursday, the 18th. Am I doomed? Did I do the right thing by retaining the attorney? Is it best to file Chapter 13 than letting to sheriff sale continue? Is my credit completely ruined with both a foreclosure and bankruptcy. Is there any light at the end of the tunnel?

I am empty.

isacmar

willisaddo · Posted: Tue Oct 16, 2007 9:31 pm Post subject:

I would have say it is very damaging to have that on your report. I have a lender who might be able to assist you with financing. I've recently found a lender that can provide a loan to your to you. Their new subprime loan product will allow borrowers to take out an unsecured loan for up to $15,000. The loans are designed to be repaid in four years with rates from 5% to 20% APR and are offered in all 50 states.

"Basically, they are unsecured loans and borrowers can be approved down to a 530 FICO score. This helps some people who may have fallen behind on their mortgage payments to get caught up."

Borrowers must have sufficient income to qualify for a loan, must have no bankruptcies within the past two years and must not be too far behind - more than three or four months - on their mortgage payments. Don't let this opportunity pass you by.

Guest

Will,

Thanks for the response. Wells Fargo Home Mortgage will not work out a payment plan with me. I offered to pay half the amount due, they wouldn't accept it. My income is sufficient; no bankruptcies to date; my credit score isn't sufficient.

isacmar55 · Joined: 04 Oct 2007 Posts: 25 15.21 Dollars($)

Bankruptcy

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Will,

Thanks for the response. Wells Fargo Home Mortgage will not work out a payment plan with me. I offered to pay half the amount due, they wouldn't accept it. My income is sufficient; no bankruptcies to date; my credit score isn't sufficient.

willisaddo · Posted: Tue Oct 16, 2007 10:39 pm Post subject:

Hi Isacmar,

I 'll need you to answer a few questions for me.

What's your current score?
where are you located?
How many months are you behind on the mortgage?
Loan balance?
Esitamated value of your home?

You can send me a private email with the answers to my questions.

isacmar55 · Joined: 04 Oct 2007 Posts: 25 15.21 Dollars($)

Will,

I have applied to Wells Fargo several times to consolidate both my mortgages one of which was 89,000 and the other 21,000. That is not a big mortgage and I make good money. They turned me down every time. My score is appx. 470. The mortgages ARM has taken it's toll. My property is worth appx. 120,000-125,000. I am located in Michigan.

coloradoloans2007 · Joined: 14 Aug 2007 Posts: 2 2.65 Dollars($)

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How damaging is both a foreclosure and a bankruptcy?