Posted on: 25th Mar, 2009 11:37 am
My husband passed away and he is only on the mortgage I am on the deed for 18months I have been struggling to make the payments my question is does your mortgage company have to modify all mortgages to 31% of your gross income if so this would help me keep my house
I'm so sorry for your loss :(
Based on the situation you are in, you should definately be in touch with you lender asking for a loan modifciation package. They will evalate your income and debt. Once this is done they can attempt to lower the rate, extend the term, or even forgive some of the principle to make the mortgage more affordable.
Just be very careful when you fill out your expense affidavit and also be as descriptive as possible when writing your hardship letter.
Based on the situation you are in, you should definately be in touch with you lender asking for a loan modifciation package. They will evalate your income and debt. Once this is done they can attempt to lower the rate, extend the term, or even forgive some of the principle to make the mortgage more affordable.
Just be very careful when you fill out your expense affidavit and also be as descriptive as possible when writing your hardship letter.
Hi whatever,
I agree with Chris. If you are facing hardship in paying off the mortgage dues, you should write a hardship letter to the lender and inform him about it. Once the lender knows about your hardship, he may give you options in paying off the mortgage dues. You can definitely speak to the lender about a loan modification but you have to remember that you should be delinquent in your mortgage payments to get this advantage.
Take Care.
I agree with Chris. If you are facing hardship in paying off the mortgage dues, you should write a hardship letter to the lender and inform him about it. Once the lender knows about your hardship, he may give you options in paying off the mortgage dues. You can definitely speak to the lender about a loan modification but you have to remember that you should be delinquent in your mortgage payments to get this advantage.
Take Care.
Thanks Chris,
I faxed them all that was required along with the hardship letter should I call them or should I wait for someone to give me a call? My mortgage is with HOMEeQ SERVICING How long should I wait for an answer
I faxed them all that was required along with the hardship letter should I call them or should I wait for someone to give me a call? My mortgage is with HOMEeQ SERVICING How long should I wait for an answer