Has anyone bben foreclosed on by Nation point mortgage?

Guest

We have to move out of state because my husbands job relocated and there aren't any jobs in the small town that we live in. The housing market has also been hit really hard here and there are tons of houses for sale in our town and nobody to buy them. Has anyone been foreclosed on by Nationpoint? What does anyone know about there "deficiency judgment" practices? I know that the house will not sell for what we bought it before the housing market took such a hit. We don't have any other assets, so there isn't anything for them to take now, but I just wondered how long this would hang over our heads. We live in Alabama by the way. Thanks for any help or advice anyone could provide!!

jameshogg · Posted: Wed Jul 16, 2008 9:46 pm Post subject:

well i've not dealt with Nation Point but looks like they're not easy to deal with. Just check out from a previous discussion on Nation Point Mortgage .

Thanks

larry · Joined: 27 Jun 2007 Posts: 3328 474.49 Dollars($)

Hi mels.

Welcome to the forum.

Have you informed Nation Point Mortgage that you cannot afford the mortgage payments any more? You should inform the lender and if you cannot afford any more then go for short sale to pay off to the lender. If you cannot do short sale or find a lender then you can even ask the lender to accept the deed in lieu of foreclosure. Check out how can you avoid foreclosure at http://www.mortgagefit.com/foreclosure/17ways-avoid.html

Feel free to ask if you have any further questions.

Best of luck.
Larry

Guest

I have been trying to find out if Nationpoint can adjust my current loan because i am upside down on it, they are not willing to help and they say that I should go get re-financed ?????? that is just such crap, who is going to refi a loan that is upside down. I am considering missing a few payments to see if that will get them to pay attention to me and offer some relief, has anyone missed payments intentionally, and if so, have they responded with a loan modification or some kind of relief for you?

adonis · Posted: Wed Dec 31, 2008 11:58 pm Post subject:

Welcome KEVLAR,

You will have to write a hardship letter to the lender stating the reasons why you were unable to pay the mortgage dues. If you cannot convince the lender with your hardship letter, then the lender will not be ready to give you a loan modification. So I don't think intentional non-payments of dues will help you in any way.

In my opinion, you can check out the option of forbearance with the lender. In this process, the lender may either reduces or suspends the payments for a period of time depending upon your situation. The lender will also give you an alternative payment plan. Know more about forbearance from the given link:
http://www.mortgagefit.com/forbearance.html

Guest

I have been trying to get a loan mod through Nationpoint for over a year now, my home is $150K under, I put my life savings down on my home $110K and I am on the brink of losing my home becasue I can no longer afford the monthly payment ($3,200, and that does not include the property taxes or Insurance) I have submitted loian mod requests three times with them now, and everytime I do, they tell me that I shoudl be getting a response within 7- 10 business days. THe first time I tried back in July of 2008, that process took 5 months for them to respond, the 2nd attempt took 6 months for them to repsond, again, both times I was told prior to sending the documents that the process would take 1-4 weeks. I just sent in another hardship affidavit last week and was told that this time it would only take 7-10 business days, I just called them to see if they received my fax last week, and they told me they have no record of it and that now the wait time is 3-4 weeks. It is so criminal that these SOB's can get away with this is anyone else out there having the same nightmare of a time with these guys? If so, are there any success stories of what worked to get them a loan Mod through NPoint?

adonis · Posted: Wed Oct 28, 2009 10:38 pm Post subject:

Hey Guest,

I do not have a personal experience with National Point. However, I agree with you that it's quite frustrating to keep on waiting for modification of the loan. But, again, I don't think you have anything else to do. It is your lender's discretion whether or not he would approve it. BTW, are you paying your mortgage dues?

riseabove · Joined: 09 Nov 2009 Posts: 70 12.67 Dollars($)

nationpoint does not seem to be well loved on this forum - is there a particular reason so many people end up using them?

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