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dianeoksienik · Joined: 18 Mar 2009 Posts: 1 1.59 Dollars($)

Was about to make two mortgage payments, both which were late, and my mortgage company offered to let me tack them onto the back of my mortgage without penalty or extra cost to me. They said I need to make one months past payment of $1,500 and then they would tack two late months onto the back. I have had alot of problem with them in the past because they refused to allow me to apply for a refi because I had lost my job. Now all of a sudden they are offering to help me. I do not trust them what so ever, matter of fact I have thought of pursuing their initial refusal further. Could you please tell me if this is legit. I have also received numerous letters in the mail from random companies about mortgage programs that I may qualify for but don't think they are real either. I really need some good advice. Do not want to deal with them any longer than necessary but deferring two payments would help me out considerably. Please, please advise

smithsussane · Posted: Wed Mar 18, 2009 8:29 pm Post subject:

Hi dianeoksienik!

Welcome to forums!

No lender would refinance the property if he comes to know that you have lost your job. If you do not have any income, the lender will not have the guarantee whether you would be able to pay off the dues or not. As far as your present situation is concerned, I think you can trust the lender and go for the plan. However, if you can pay off the past due payments of both the months and get current on the loan, then you should inform the lender about it and pay off the dues.

In my opinion, you should not trust the offers you get through your mail. There are chances that these companies can be a scam.

Sussane

Guest

Sussane,

Thanks for your speedy reply. My concern is that there are soooooooo many complaints about my mortgage company all over the web that I am really afraid to deal with them. The mortgage company is American Home Mortgage Servicing Inc. Do you know anything about them. It would help me so much to accept this offer but I am concerned why it has come up all of a sudden seeing as I had contacted them in the fall and they wouldn't lift a finger to assist me. That is why I don't trust them. Many have said that the latest mortgage situation with the government has allowed alot of changes, perhaps this is one of them. So it sounds like a real deal? Await your reply. Thanks.

vegas_storms · Joined: 12 Sep 2008 Posts: 67 3.54 Dollars($)

Do not trust your current lender unless you're given this offer in writing.

Guest

My letter said I could do a letter expressing hardship circumstances; i.e, hours cut back drastically, etc. and could apply for deferrement in my mortgate loan. It is legitimate to accept a deferrment from my lender.

jenkin7 · Posted: Wed Apr 01, 2009 10:53 pm Post subject:

Hi Terri,

It is quite legitimate. If you are delinquent on your payments, the lender can defer your payments for a certain period of time and add the unpaid payments to the back of the mortgage, while all other terms of the loan remain the same. You will have to make these payments at the end of the deferral period or at the end of the term when the entire loan balance is paid off.

Guest

I entered into a Forebearance Plan with Litton Loan. They deferred Feb, March, and April. I lost my job in July, and am collecting unemployment, and my husband is working and making decent money. I was under the impression from the rep I spoke to at Litton Loan, that the three payments would be added to the back end of the loan amount. I spoke to another representative the other day, and she told all the money is due at the end of the Forebearance Plan. How could I pay all that money back not working, and if I could make the payments, I wouldn't need the "Plan".We do not want to lose our home. Have been here 12 years and I am looking for a job 18 hours a day almost. Please help.. Thank you so much.

jerry · Posted: Tue Mar 08, 2011 3:03 am Post subject:

Hi dboyd!

Welcome to forums!

You should contact your lender and ask them to consider your situation and add the deferred payments at the end of the loan term and not at the end of the forbearance term.

Feel free to ask if you've further queries.

Sussane

Guest

Hi. My business is in forclosure and I want to know if I write a letter of deferment first should it be checked by a lawyer and second do you think I have a chance of them stopping the foreclosure if I can show them a contract showing rent that will cover the mortgage for the next year. I owe 11,000 and could send them 6000 to show that I was serious. Thanks

Guest

Hi Does a letter of deferment need to be done by a lawyer when you are sending to your lender. Thanks

smithsussane · Posted: Thu Apr 14, 2011 11:13 pm Post subject:

Hi Jerico!

Welcome to forums!

It will be better if you could take the help of an attorney in order to get the letter of deferment drafted. It will depend upon the lender whether or not he will consider your request and stop the foreclosure procedure.

Feel free to ask if you've further queries.

Sussane

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