Posted on: 27th Jul, 2009 07:24 pm
Lost job, working part time can't make 800 payment and car 366 plus utilities, home sits on grandfather property so its very close connection, been denied for modification what the best way to go, it is a FHA loan and modular home & I do want to keep it, just want payment lower where I can pay something. Thanks
Hello,
Answering your questions as to which way should you go, bankruptcy or foreclosure, I would say neither!
I see you have said that you tried loan modification, but that didn't help, have you tried having somebody do a short sale on your home?
My company specializes in doing short sales. Although you will not be able to keep the home, you won't have to worry about having a foreclosure or bankruptcy hurt your credit!
If you're not familiar with a short sale, it's when a negotiator like myself talks to the bank about buying the home for less than what is owed on your loan. Especially in these hard times where nobody is buying homes, many homeowners in your situation are leaning towards this solution.
If you'd like for me to answer any more questions just send me an email.
Good luck with everything.
Adam Kappel
[E-mail address deleted as per forum rules. Thanks.]
Answering your questions as to which way should you go, bankruptcy or foreclosure, I would say neither!
I see you have said that you tried loan modification, but that didn't help, have you tried having somebody do a short sale on your home?
My company specializes in doing short sales. Although you will not be able to keep the home, you won't have to worry about having a foreclosure or bankruptcy hurt your credit!
If you're not familiar with a short sale, it's when a negotiator like myself talks to the bank about buying the home for less than what is owed on your loan. Especially in these hard times where nobody is buying homes, many homeowners in your situation are leaning towards this solution.
If you'd like for me to answer any more questions just send me an email.
Good luck with everything.
Adam Kappel
[E-mail address deleted as per forum rules. Thanks.]
if you will not be able to keep the home, you won't have to worry about having a foreclosure or bankruptcy . i tell u about the short sale.
A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.
A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.