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Company Loan Type APR Est. Pmt.

Refinance while in foreclosure

Posted on: 26th Mar, 2008 03:44 pm
does anyone know if there is a company that will refinance a mortgage once the home is in foreclosure? american servicing center is the worse mortgage company that anyone can deal with and i am in desperate need to get away from them, so i can deal with a legit company and keep my home.
Posted on: 26th Mar, 2008 03:57 pm
hi,

welcome to mortgagefit discussion board.

yes filing bankruptcy will help to avoid foreclosure and you can also be able too keep the home. try to file chapter 13 as larry mentioned above.

do let me know if you have any other questions.

thanks
blue
Posted on: 27th Mar, 2008 03:59 pm
Hello Michelle,

There is another alternative, if you know of an investor in your area they might assist you by purchasing your property and give you some time to build up your credit and purchase the home back from them. They normally give you 6 months to 1 year to reconstruct your credit. This would allow you to keep your credit intact and be able to purchase back your own property at a later date.

Thanks and good luck

Jeanette Smith
Mortgage Planner
Union MOrtgage Group
office 757-306-3300
cell 757-338-1889
Posted on: 27th Mar, 2008 09:02 pm
Seems to be an interesting option Jeanette. can you tell me more about this transaction? i mean what does the investor do with this property for a period of 6 months to 1 year because he has to return it to the current owner. So where exactly does he gain in the process?
Posted on: 28th Mar, 2008 12:02 am
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