our lender refused to agree to a loan modification which forced us into a foreclosure. now a collector is trying to collect past HOA dues to the tune of $4,600.00. can they do that?

our lender refused to agree to a loan modification which forced us into a foreclosure. now a collector is trying to collect past HOA dues to the tune of $4,600.00. can they do that?

chap. 13 was finalized last year.need a loan mod to stay in our house!

chap. 13 was finalized last year.need a loan mod to stay in our house!

There are so many companies tht claim they can reduce my loan, because of the new stimulus plan out there, i live in orlando, i was wondering if anyone has done there's and with whom, and i heard tht comapanies should not charge you upfront? Also i tried going thru' my bank, whom i had gotten the loan with , BOA, and they only reduced the payments by a hundred dollars, can anyone shed any light as to what i should do to get my payments reduce, the house is only 2yrs old

There are so many companies tht claim they can reduce my loan, because of the new stimulus plan out there, i live in orlando, i was wondering if anyone has done there's and with whom, and i heard tht comapanies should not charge you upfront? Also i tried going thru' my bank, whom i had gotten the loan with , BOA, and they only reduced the payments by a hundred dollars, can anyone shed any light as to what i should do to get my payments reduce, the house is only 2yrs old

In California

In California

Our lender recently denied us a Government Home Modification loan due to the fact that (according to our lender) our records & documents we provided indicated we were NOT at risk of default as we've never missed a mortgage payment. I found this to be very odd though given the fact that when we applied we were living on one income, making barely over minimum wage! (I lost my job which is what prompted us to apply in the first place) Fortunately we have some savings in the bank which has helped keep us a float during this time but if nothing changes in the next several months our savings account is going to deplete rather quickly, leaving us with nothing and possibly not even a home! (FYI- when we originally applied for the home modification we did provide our lender with a bank statement per their request) Could that be the reason why we did not get approved? They did tell us we could re-apply if our situation changed (which it has) as I've since secured a P/T job. They also told us they could use all of the original documents we originally provided but just to send them our most recent two pay-stubs. I'm afraid however they are going to look once again at our bank statement and deny us on that reason alone. Would transferring part of our savings into another bank account help, then simply provide them with a new bank statement? We are not trying to get over on the Home Modification process as much as we are just trying to lower our monthly mortgage payment and hang onto what little savings we have left for a rainy day. It seems however the mortgage company has no issues watching us deplete every dime of our savings to pay our mortgage before offering some kind of help....which from what I understand is no guarantee anyway! We would appreciate any suggestions. Thank You.

Our lender recently denied us a Government Home Modification loan due to the fact that (according to our lender) our records & documents we provided indicated we were NOT at risk of default as we've never missed a mortgage payment. I found this to be very odd though given the fact that when we applied we were living on one income, making barely over minimum wage! (I lost my job which is what prompted us to apply in the first place) Fortunately we have some savings in the bank which has helped keep us a float during this time but if nothing changes in the next several months our savings account is going to deplete rather quickly, leaving us with nothing and possibly not even a home! (FYI- when we originally applied for the home modification we did provide our lender with a bank statement per their request) Could that be the reason why we did not get approved? They did tell us we could re-apply if our situation changed (which it has) as I've since secured a P/T job. They also told us they could use all of the original documents we originally provided but just to send them our most recent two pay-stubs. I'm afraid however they are going to look once again at our bank statement and deny us on that reason alone. Would transferring part of our savings into another bank account help, then simply provide them with a new bank statement? We are not trying to get over on the Home Modification process as much as we are just trying to lower our monthly mortgage payment and hang onto what little savings we have left for a rainy day. It seems however the mortgage company has no issues watching us deplete every dime of our savings to pay our mortgage before offering some kind of help....which from what I understand is no guarantee anyway! We would appreciate any suggestions. Thank You.

I understand that some of the possibilities are reduction of principal, lowering of the interest rate, removal of late fees etc. Do they really give you these things?

I understand that some of the possibilities are reduction of principal, lowering of the interest rate, removal of late fees etc. Do they really give you these things?

I haven't paid the HOA in over a year now. They don't do anything at all. It is just a big expense for me to keep paying them $100 a month for nothing. Anyways I received a letter today saying that I owe them $2600 and that they referred my account to the law firm and that I have until August 26 to pay in full or pay over a 3 month period. I cannot do either one as I don't have money to keep paying these guys. I just finished a loan modification process with my mortgage company 4 month ago and I am now comfortable with my mortgage payments. I can't afford the HOA payments but I want to stay in this house. Anyways knowing that the house is now worth only $176,000 as compared to $395,000 when I bought it in 2007, am I safe from the HOA? I mean even if they put a lien on the house, how are they gonna collect their money. I don't even know if they could just foreclose on me after they put a lien on the house, but why would they do that. They won't get a dime out of this right. How does this process work exactly and can I just continue living in my house without paying the HOA. I don't care about my credit. My credit is terrible as it is and I have stopped paying my credit cards well over a year now and I did receive judgments against me from these credit cards but it doesn't matter because they can't garnish my wages since I am self employed and I don't have any money in the bank. So going back to the HOA situation, I am in Arizona, what is the law regarding the HOA here in this state? Even if they put a lien on the house, knowing that the house has gone down by $200k, what can the HOA do? Please give me all the details. I really need help and I want to stay in my home. Thanks

I haven't paid the HOA in over a year now. They don't do anything at all. It is just a big expense for me to keep paying them $100 a month for nothing. Anyways I received a letter today saying that I owe them $2600 and that they referred my account to the law firm and that I have until August 26 to pay in full or pay over a 3 month period. I cannot do either one as I don't have money to keep paying these guys. I just finished a loan modification process with my mortgage company 4 month ago and I am now comfortable with my mortgage payments. I can't afford the HOA payments but I want to stay in this house. Anyways knowing that the house is now worth only $176,000 as compared to $395,000 when I bought it in 2007, am I safe from the HOA? I mean even if they put a lien on the house, how are they gonna collect their money. I don't even know if they could just foreclose on me after they put a lien on the house, but why would they do that. They won't get a dime out of this right. How does this process work exactly and can I just continue living in my house without paying the HOA. I don't care about my credit. My credit is terrible as it is and I have stopped paying my credit cards well over a year now and I did receive judgments against me from these credit cards but it doesn't matter because they can't garnish my wages since I am self employed and I don't have any money in the bank. So going back to the HOA situation, I am in Arizona, what is the law regarding the HOA here in this state? Even if they put a lien on the house, knowing that the house has gone down by $200k, what can the HOA do? Please give me all the details. I really need help and I want to stay in my home. Thanks

months prior to this. i was waiting for my social security disability to start and also my v.a. disability to be completed. this occurred in june 2009. i fell 2 months behind on my mortgage. finally in February 2010 we agreed upon a modified mortgage. i had signed and had gotten the paperwork they had sent me. i had gotten a cashiers check with the amount they requested. they received the documents and the check 6 day before the cut off. my payments were supposed to start april 1 2010. my payments i thought were up to date for the last 4 months either paid early or the 1st of the month. this company had sent me 2 other contracts and i was talking to a modification negotiator the whole time because the other 2 new contracts the payment was higher. the negotiator stated that this would all be fixed and would get back to me by c.o.b yesterday. i received a phone call from them and was told that my negotiator was changed. i called there today and they would not give me any info on my loan or what is going on. i am a totally disabled veteran on a lot of medications that cannot take all this stress over this whole situation and my wife is also on medications for anxiety over all of this is about to end up in the hospital due to all this going on, not knowing what is going on with my home. after 3 contracts i was told that all 3 of them were incorrect to include the 1st one that was completed and the check that was sent they cashed a few days after receiving it. this lender from what i understand has received bailout money from the federal govt. i feel that the 1st contract that was signed and the check was cashed that this was a legal binding contract and that my v.a. representative was thinking the same thing. we thought this was all straightened out. the 4 payments i made were in a limbo account and it was showing me to be behind 4 payments. they made the mistakes on all of these contracts and i did what they told me and they are trying to make me pay for there mistakes on these contracts. do i have a legal leg to stand on. would i be able to file a law suite on them. we cannot take much more of this stress when we cannot get any answers on this whole thing and my credit report is getting worse every month. i really need some advise to get this situation all straightened out and be over with. its time to enjoy life not waste it away.

months prior to this. i was waiting for my social security disability to start and also my v.a. disability to be completed. this occurred in june 2009. i fell 2 months behind on my mortgage. finally in February 2010 we agreed upon a modified mortgage. i had signed and had gotten the paperwork they had sent me. i had gotten a cashiers check with the amount they requested. they received the documents and the check 6 day before the cut off. my payments were supposed to start april 1 2010. my payments i thought were up to date for the last 4 months either paid early or the 1st of the month. this company had sent me 2 other contracts and i was talking to a modification negotiator the whole time because the other 2 new contracts the payment was higher. the negotiator stated that this would all be fixed and would get back to me by c.o.b yesterday. i received a phone call from them and was told that my negotiator was changed. i called there today and they would not give me any info on my loan or what is going on. i am a totally disabled veteran on a lot of medications that cannot take all this stress over this whole situation and my wife is also on medications for anxiety over all of this is about to end up in the hospital due to all this going on, not knowing what is going on with my home. after 3 contracts i was told that all 3 of them were incorrect to include the 1st one that was completed and the check that was sent they cashed a few days after receiving it. this lender from what i understand has received bailout money from the federal govt. i feel that the 1st contract that was signed and the check was cashed that this was a legal binding contract and that my v.a. representative was thinking the same thing. we thought this was all straightened out. the 4 payments i made were in a limbo account and it was showing me to be behind 4 payments. they made the mistakes on all of these contracts and i did what they told me and they are trying to make me pay for there mistakes on these contracts. do i have a legal leg to stand on. would i be able to file a law suite on them. we cannot take much more of this stress when we cannot get any answers on this whole thing and my credit report is getting worse every month. i really need some advise to get this situation all straightened out and be over with. its time to enjoy life not waste it away.

Important messages about your Acount. Please dsignate how you want to apply for additional funds. When sent with this coupon, undesignated funds first pay outstanding late charges and fees, then pricipal, provided your loan is current. Undesignated funds sent without this coupon may be placed in suspense rather than applied to your loan as pricipal until Chase determines how you want to apply those funds, Once paid, additional funds cannot be returned. I have been late on 3 house payments and before a forbearance agreement last year, i missed about 6 months. Urghh. its so hard when your payments are 700.00+ a month. I know that i can afford to live here now that work is picking up and i am getting my other bills paid off. I am just wondering if they are asking me to return the coupon with the amount that i am asking them to cover payments i previously missed. depending on approval, they might be able to cover all late charges and fees as well getting me current on my loan. Please let me know if this is true or am i misunderstanding the letter. I was sent a package about a loan modification that i believe took care of the payments that was missed last year before i was put under a forbearance agreement. I am wondering why my letter says that total amount due is 9,000+ when i missed 6 months last year (before the forbearance) and 3 months this year with a payment due each month 700.00+ The total with late charges seems as if they didn't take off my previous 6 month late payments last year like the package they sent me stated. Thanks so much, guys. <3

Important messages about your Acount. Please dsignate how you want to apply for additional funds. When sent with this coupon, undesignated funds first pay outstanding late charges and fees, then pricipal, provided your loan is current. Undesignated funds sent without this coupon may be placed in suspense rather than applied to your loan as pricipal until Chase determines how you want to apply those funds, Once paid, additional funds cannot be returned. I have been late on 3 house payments and before a forbearance agreement last year, i missed about 6 months. Urghh. its so hard when your payments are 700.00+ a month. I know that i can afford to live here now that work is picking up and i am getting my other bills paid off. I am just wondering if they are asking me to return the coupon with the amount that i am asking them to cover payments i previously missed. depending on approval, they might be able to cover all late charges and fees as well getting me current on my loan. Please let me know if this is true or am i misunderstanding the letter. I was sent a package about a loan modification that i believe took care of the payments that was missed last year before i was put under a forbearance agreement. I am wondering why my letter says that total amount due is 9,000+ when i missed 6 months last year (before the forbearance) and 3 months this year with a payment due each month 700.00+ The total with late charges seems as if they didn't take off my previous 6 month late payments last year like the package they sent me stated. Thanks so much, guys. <3

Can I have a loan modification while I am collecting unemployment?

Can I have a loan modification while I am collecting unemployment?

http://www.therealestateledger.com/2010/06/loan-modification-failures-officially-tip-the-scale-in-may/ "If you remember from April… (http://www.therealestateledger.com/2010/05/loan-modification-program-has-nearly-as-many-failures-as-successes/): Over 1.2 million Americans have started the government backed Loan Modification Program, of which 299,000 homeowners (25%) have completed the process and 277,000 (23%) have been dropped. The number of homeowners dropping out has increased from 155,000 the prior month, leaving me to believe that next month will have more failures than successes. …the Loan Modification Program was about even in terms of successful/unsuccessful completions. The Treasury has released updated figures as of May 2010 and, to no suprise, the increasing rate of failure has continued. The latest figures show the number of failures has risen to 436,000, up from 277,000 last month. The number of successful completions, those leading to permanent loan modifications, has also risen (but at a much slower pace) to 340,000, up from 299,000 the prior month. There are still 464,000 of the total 1.24 million applicants who are in the trial phase." http://finance.yahoo.com/real-estate/article/110131/housing-market-stumbles "Last month, nearly 39,000 borrowers received government-backed loan modifications, but more than 90,000 borrowers fell out of the program, the Obama administration said on Tuesday."

http://www.therealestateledger.com/2010/06/loan-modification-failures-officially-tip-the-scale-in-may/ "If you remember from April… (http://www.therealestateledger.com/2010/05/loan-modification-program-has-nearly-as-many-failures-as-successes/): Over 1.2 million Americans have started the government backed Loan Modification Program, of which 299,000 homeowners (25%) have completed the process and 277,000 (23%) have been dropped. The number of homeowners dropping out has increased from 155,000 the prior month, leaving me to believe that next month will have more failures than successes. …the Loan Modification Program was about even in terms of successful/unsuccessful completions. The Treasury has released updated figures as of May 2010 and, to no suprise, the increasing rate of failure has continued. The latest figures show the number of failures has risen to 436,000, up from 277,000 last month. The number of successful completions, those leading to permanent loan modifications, has also risen (but at a much slower pace) to 340,000, up from 299,000 the prior month. There are still 464,000 of the total 1.24 million applicants who are in the trial phase." http://finance.yahoo.com/real-estate/article/110131/housing-market-stumbles "Last month, nearly 39,000 borrowers received government-backed loan modifications, but more than 90,000 borrowers fell out of the program, the Obama administration said on Tuesday."

I have a 500 credit score, mainly because we are going through a loan modification on our mortgage so it is showing 90 days late but paying under an agreement. I also have a few medical bills that are unpaid. I am curious if I put $15K down and finance $25K if I will be able to get a loan?

I have a 500 credit score, mainly because we are going through a loan modification on our mortgage so it is showing 90 days late but paying under an agreement. I also have a few medical bills that are unpaid. I am curious if I put $15K down and finance $25K if I will be able to get a loan?

I broke up with a boyfriend and we bought a house together. I am possibly going to file for bankruptcy and he needs to file a loan modification. I don't live in the home anymore and both of us are afraid my creditors will come after the equity. He asked me to fill out a quit claim deed but I don't want to lose my part of the equity and he doesn't have cash like that to give me now although he says he'll pay me whenever he sells, but he also said he would love me forever. What else can I do?

I broke up with a boyfriend and we bought a house together. I am possibly going to file for bankruptcy and he needs to file a loan modification. I don't live in the home anymore and both of us are afraid my creditors will come after the equity. He asked me to fill out a quit claim deed but I don't want to lose my part of the equity and he doesn't have cash like that to give me now although he says he'll pay me whenever he sells, but he also said he would love me forever. What else can I do?

I've lived in my house for 4 years having NEVER been late on my mortgage, I lost my job however 2 years ago but have since picked up a P/T job. The majority of my monthly mortgage bill is being payed with money I have in my savings account. I applied for the Obama Home modification program through my mortgage Co. but they said I didn't qualify, My mortgage company then tried to work out an "In House" home modification loan for me but after weeks of waiting they finally told me I didn't qualify for that either. They said the reason was...I didn't show any history of NOT being able to make my monthly payment. I tried to explain to them the reason that was, is that it was my savings account that was keeping me afloat. I also explained to them that it was only a matter of time before my savings ran out and that I would in fact have an issue making my monthly payment before long. Unfortunately I have a very high interest rate on the loan but have since cleaned up my credit...problem now is I don't have a full time job which is making it very difficult to qualify for a re-fi! Does anyone have any suggestions???? A friend told me that if I begin to show some issues paying my mortgage that my mortgage co. may then be able to justify helping me with the "In House" re-fi. I want to do the right thing!

I've lived in my house for 4 years having NEVER been late on my mortgage, I lost my job however 2 years ago but have since picked up a P/T job. The majority of my monthly mortgage bill is being payed with money I have in my savings account. I applied for the Obama Home modification program through my mortgage Co. but they said I didn't qualify, My mortgage company then tried to work out an "In House" home modification loan for me but after weeks of waiting they finally told me I didn't qualify for that either. They said the reason was...I didn't show any history of NOT being able to make my monthly payment. I tried to explain to them the reason that was, is that it was my savings account that was keeping me afloat. I also explained to them that it was only a matter of time before my savings ran out and that I would in fact have an issue making my monthly payment before long. Unfortunately I have a very high interest rate on the loan but have since cleaned up my credit...problem now is I don't have a full time job which is making it very difficult to qualify for a re-fi! Does anyone have any suggestions???? A friend told me that if I begin to show some issues paying my mortgage that my mortgage co. may then be able to justify helping me with the "In House" re-fi. I want to do the right thing!

I heard that in California the bank can not come after me for the difference owed if the house is lost to foreclosure or is sold through a short sale. Is this true?

I heard that in California the bank can not come after me for the difference owed if the house is lost to foreclosure or is sold through a short sale. Is this true?

Hello, I'm thinking about a loan modification. My house is worth less than 80 thousand that I owe. I wanted to re-finance to a 30 yr fixed( I have two interest only loans )but can't. B of A suggested a Loan Modification, but I'm not sure about that I feel like I'm gonna get screwed, it's B of A right? What do they do in a loan modification anyway? A drink to you who are in the same boat!

Hello, I'm thinking about a loan modification. My house is worth less than 80 thousand that I owe. I wanted to re-finance to a 30 yr fixed( I have two interest only loans )but can't. B of A suggested a Loan Modification, but I'm not sure about that I feel like I'm gonna get screwed, it's B of A right? What do they do in a loan modification anyway? A drink to you who are in the same boat!

I am going on over a year to get a loan modification. here is the facts -combined income in 05-08 was 130k -both of lost lost jobs in mid 09, wife works for 50% less I draw unemployment now over the last year making 50k -home value 170k owe around 300k bought in 06, because of 1 late on each of our credit at the time we where put in a sub prime loan with wells fargo acceptance- our rate is 8.99% -We have no savings and now 30k in cc debt! At first I went thought this service that asked for 3k but I was scammed. Sept I then contacted Wells Fargo at that time they sorry we are not qualified blah blah blah.. They did tell us to borrow money from parents or relatives, take cash advances from cc, sell cars, rent a room, garage sale ect. Well then we stopped paying then in Dec them sent us a government plan with a 3mth probation period. this is 1k less then our payment what a huge relief. The noticed said if make 3 payment Dec-Feb we get a permanent modification. Well in Feb I called these clowns they said just keep sending in the trial amount until I got a letter last week that said I have been denied due to not cooperating with my paperwork WTH I send these idiots over and over my documents. I called them today and the women said the board of directors needs to review my case this will take 30-45 days keep making your payments, She was baffled by this notice. In the mean time we get collection calls from india this has been going on for 6 months. This is completely disgusting my parents opened the idea for us to move back to Omaha as my home is underwater-I think this probation period payments are a way for them to get more $$ out of it. Anyone going through this. thanks.

I am going on over a year to get a loan modification. here is the facts -combined income in 05-08 was 130k -both of lost lost jobs in mid 09, wife works for 50% less I draw unemployment now over the last year making 50k -home value 170k owe around 300k bought in 06, because of 1 late on each of our credit at the time we where put in a sub prime loan with wells fargo acceptance- our rate is 8.99% -We have no savings and now 30k in cc debt! At first I went thought this service that asked for 3k but I was scammed. Sept I then contacted Wells Fargo at that time they sorry we are not qualified blah blah blah.. They did tell us to borrow money from parents or relatives, take cash advances from cc, sell cars, rent a room, garage sale ect. Well then we stopped paying then in Dec them sent us a government plan with a 3mth probation period. this is 1k less then our payment what a huge relief. The noticed said if make 3 payment Dec-Feb we get a permanent modification. Well in Feb I called these clowns they said just keep sending in the trial amount until I got a letter last week that said I have been denied due to not cooperating with my paperwork WTH I send these idiots over and over my documents. I called them today and the women said the board of directors needs to review my case this will take 30-45 days keep making your payments, She was baffled by this notice. In the mean time we get collection calls from india this has been going on for 6 months. This is completely disgusting my parents opened the idea for us to move back to Omaha as my home is underwater-I think this probation period payments are a way for them to get more $$ out of it. Anyone going through this. thanks.

I have a home in TX that I have lived in for the past 7 years. I owe more than it is worth so there is no equaity in it. Due to illness and reduction in income, I am finding it harder to make the monthly payments. It is a HUD loan. I have talked to my mortgage company about loan modification, short sale, and deed of leiu and they will not seem to work with me. My monthly payment is $1000 and I had several realtors tell me that I can rent it for $650 per month. It is a small home and there are so many foreclosures in my neigborhood. My question is if worse to comes worse and it foreclosues and if the mortgage comapny files a deficiency judgment against me, can they take from my bank account and take my income tax returns? I already know that there will be a balance left over. Will bankruptcy help? I have no other major credit card debts. It is a FHA loan. I am not sure if HUD and FHA are the same but is a FHA loan. Thanks. I also forgot to ask if my wages can be garnished from this. I do not want to foreclose but it just might happen. I am already trying to work 2 jobs because my children love our home but it just might happen.

I have a home in TX that I have lived in for the past 7 years. I owe more than it is worth so there is no equaity in it. Due to illness and reduction in income, I am finding it harder to make the monthly payments. It is a HUD loan. I have talked to my mortgage company about loan modification, short sale, and deed of leiu and they will not seem to work with me. My monthly payment is $1000 and I had several realtors tell me that I can rent it for $650 per month. It is a small home and there are so many foreclosures in my neigborhood. My question is if worse to comes worse and it foreclosues and if the mortgage comapny files a deficiency judgment against me, can they take from my bank account and take my income tax returns? I already know that there will be a balance left over. Will bankruptcy help? I have no other major credit card debts. It is a FHA loan. I am not sure if HUD and FHA are the same but is a FHA loan. Thanks. I also forgot to ask if my wages can be garnished from this. I do not want to foreclose but it just might happen. I am already trying to work 2 jobs because my children love our home but it just might happen.

this is what i find joy in, I am only 15, almost 16, yes my avatar is a real picture of me. i analyze stock markets, am absorbed in politics, love learning about anything scientific, i have a microbiology degree, i'm into guys in their early 30's, and i am already dedicating my life towards becoming a neurosurgeon. oh and i clean my dad's house so i will be more mature, and i do his taxes, and help him organize and pay the bills. i am currently working with my dad and chase bank so i can help my dad figure out how to get an affordable loan modification. so i think that i am not normal at all, i mean to say the very least, I LOOK LIKE I"M 20. feel free, have you ever heard of going to a community college for a degree? you obviously don't believe in education very much. i don't understand what is so amazing, there are 12 year olds who have graduated from high school and already have degrees. ROFL! whoever sent in all those buisness agreements must realy care about me too :) you have inspired me to become a buisness man jk lol, but i like all the thought you put into it, that was very nice of you ^^, PS: shor, i will always remember you forever and ever <3, so when i become a neurosurgeon in about 13 or 14 years, i will stay in contact with you and we wil hang out at my house and throw a bunch of parties :) yay! you are very intelligent yourself :) keep up your amazing answers and let the world form to you, not the other way around lol, words of wisdom... PS: for whoever keeps spamming this question: i have recognized your rather insecure comments and i am just warning you that i have decided to report abuse on all of your posts for this question, keep it up and i will report abuse on ALL of your answers that do not follow the yahoo guidelines :) have a nice day.

this is what i find joy in, I am only 15, almost 16, yes my avatar is a real picture of me. i analyze stock markets, am absorbed in politics, love learning about anything scientific, i have a microbiology degree, i'm into guys in their early 30's, and i am already dedicating my life towards becoming a neurosurgeon. oh and i clean my dad's house so i will be more mature, and i do his taxes, and help him organize and pay the bills. i am currently working with my dad and chase bank so i can help my dad figure out how to get an affordable loan modification. so i think that i am not normal at all, i mean to say the very least, I LOOK LIKE I"M 20. feel free, have you ever heard of going to a community college for a degree? you obviously don't believe in education very much. i don't understand what is so amazing, there are 12 year olds who have graduated from high school and already have degrees. ROFL! whoever sent in all those buisness agreements must realy care about me too :) you have inspired me to become a buisness man jk lol, but i like all the thought you put into it, that was very nice of you ^^, PS: shor, i will always remember you forever and ever <3, so when i become a neurosurgeon in about 13 or 14 years, i will stay in contact with you and we wil hang out at my house and throw a bunch of parties :) yay! you are very intelligent yourself :) keep up your amazing answers and let the world form to you, not the other way around lol, words of wisdom... PS: for whoever keeps spamming this question: i have recognized your rather insecure comments and i am just warning you that i have decided to report abuse on all of your posts for this question, keep it up and i will report abuse on ALL of your answers that do not follow the yahoo guidelines :) have a nice day.

in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification. My home has dropped 90,000 in value and it's really not worth paying on a 170,000 loan when other houses in my neighborhood are being sold for 80,000 and getting a lower interest rate.

in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification. My home has dropped 90,000 in value and it's really not worth paying on a 170,000 loan when other houses in my neighborhood are being sold for 80,000 and getting a lower interest rate.

HI, my mortgage payment is $1519/month. my car payment is $1266/month. (mercedes). i lost equity in my house. can i be qualified for makinghomeaffordable.gov program ? i am afraid that my car payment will be killing everything. i think no one will help me to lower mortgage 's payment if i have a mercedes !. do u think so ? i own a small business. my 2009 tax return income is about $25k/year. i have this car for 3 years already ! you think i should not apply for "RMA- request for modification and affidavit. they will investigate and see my car payment in my credit report . pls. help me, thank you very much.

HI, my mortgage payment is $1519/month. my car payment is $1266/month. (mercedes). i lost equity in my house. can i be qualified for makinghomeaffordable.gov program ? i am afraid that my car payment will be killing everything. i think no one will help me to lower mortgage 's payment if i have a mercedes !. do u think so ? i own a small business. my 2009 tax return income is about $25k/year. i have this car for 3 years already ! you think i should not apply for "RMA- request for modification and affidavit. they will investigate and see my car payment in my credit report . pls. help me, thank you very much.

My loan modification has been denied, if I rent the house, do I have better chanses to get a loan modification?

My loan modification has been denied, if I rent the house, do I have better chanses to get a loan modification?

My husband and I are asking my dad to co-sign for a mortgage, mainly to increase the amount we can get. My father is concerned about being responsible for the duration of the loan given his age (75) and if anything were to happen, his wife would then be responsible. Can we have him co-sign, and then after a period of time, have a loan modification w/the bank to remove his as a co-signer? If so, what is the earliest amount of time that can be requested?

My husband and I are asking my dad to co-sign for a mortgage, mainly to increase the amount we can get. My father is concerned about being responsible for the duration of the loan given his age (75) and if anything were to happen, his wife would then be responsible. Can we have him co-sign, and then after a period of time, have a loan modification w/the bank to remove his as a co-signer? If so, what is the earliest amount of time that can be requested?

I just got a quote for a refinance option on my home. I am currently paying 579 a month at 7.5% and I owe 59,000. They quoted me for 530 a month and 5.2% but then I would owe 67,500 because they would include all of the fees, and then my term would go back up to 30 years, and my current term is currently 27 years. I also have another option of doing a loan modification. Do you guys think that this is a good deal or should I see if they can give me something better.

I just got a quote for a refinance option on my home. I am currently paying 579 a month at 7.5% and I owe 59,000. They quoted me for 530 a month and 5.2% but then I would owe 67,500 because they would include all of the fees, and then my term would go back up to 30 years, and my current term is currently 27 years. I also have another option of doing a loan modification. Do you guys think that this is a good deal or should I see if they can give me something better.

I have been trying to get my mortgage modified since June '09. Wells Fargo have requested all kinds of paper. In Jan '10 I stopped paying the house (health issues expenses). The bank 1st mtg. have place the loan in foreclosure and still working on a modification. They told me that they will let me know their outcome before the foreclosure date of 08/02/10. The second mortgage was trying to have me pay but I told them that I wanted to wait for the modification on the first mortgage to determine how much I was going to be able to pay them. They didn't wait and are trying to set a judgment on me. I had to hire a lawyer and he told me that I this point I needed to make an arrangement to pay out of court. I told him that I wanted to offer $200. and he indicated that the amount was to low and they were not going to accept it. He suggested $500. He talk to the bank and they accepted that amount, but now I am thinking that if I retire and have to find something to rent I am not going to have enough. The lawyer told me that I needed to accept their deal because if they go on with the judgement they can garnish my retirement. I don't know what to do, please help me

I have been trying to get my mortgage modified since June '09. Wells Fargo have requested all kinds of paper. In Jan '10 I stopped paying the house (health issues expenses). The bank 1st mtg. have place the loan in foreclosure and still working on a modification. They told me that they will let me know their outcome before the foreclosure date of 08/02/10. The second mortgage was trying to have me pay but I told them that I wanted to wait for the modification on the first mortgage to determine how much I was going to be able to pay them. They didn't wait and are trying to set a judgment on me. I had to hire a lawyer and he told me that I this point I needed to make an arrangement to pay out of court. I told him that I wanted to offer $200. and he indicated that the amount was to low and they were not going to accept it. He suggested $500. He talk to the bank and they accepted that amount, but now I am thinking that if I retire and have to find something to rent I am not going to have enough. The lawyer told me that I needed to accept their deal because if they go on with the judgement they can garnish my retirement. I don't know what to do, please help me

I have a 5 year ARM and it is up in Dec. I had to let go of my second property in AZ. My credit is shot. (Aurora Bank strung me and my cash buyers out for 7 months before still Foreclosing on the house) I ran out of savings. My parents have been helping me pay my bills but that money has just about run out. I just got a corporate part time job with a strong possibility of full time hours soon, so I show an Income to Refi. US Banks says since my home is an "Investor Owned" loan and it's not a freddie Mac or Mae home, they can't offer me a loan mod, forbearance...nothing. I have about 50K equity in it. I want to refinance it and get these good load mod's that so many people have received. Any other options for me on dealing with US Bank. I heard about stopping payments, putting a restraining order against the banks... I am not sure what that is all about. But basically I want to know if there is any other avenue for me to go down that is legit to get a better loan. I am thinking of having my parents be on the loan and get a new loan entirely. I have bad credit due to the short sale tactics of my AZ property. This is a Ca home in Orange County if that makes a difference. I'm also renting two rooms in the house and we all live together, so if there is some kind of renter protection clause, let me know. Please let me know if there are any assistance programs available to me and or any options, ways of going about this that I should know about. Super Thanks!

I have a 5 year ARM and it is up in Dec. I had to let go of my second property in AZ. My credit is shot. (Aurora Bank strung me and my cash buyers out for 7 months before still Foreclosing on the house) I ran out of savings. My parents have been helping me pay my bills but that money has just about run out. I just got a corporate part time job with a strong possibility of full time hours soon, so I show an Income to Refi. US Banks says since my home is an "Investor Owned" loan and it's not a freddie Mac or Mae home, they can't offer me a loan mod, forbearance...nothing. I have about 50K equity in it. I want to refinance it and get these good load mod's that so many people have received. Any other options for me on dealing with US Bank. I heard about stopping payments, putting a restraining order against the banks... I am not sure what that is all about. But basically I want to know if there is any other avenue for me to go down that is legit to get a better loan. I am thinking of having my parents be on the loan and get a new loan entirely. I have bad credit due to the short sale tactics of my AZ property. This is a Ca home in Orange County if that makes a difference. I'm also renting two rooms in the house and we all live together, so if there is some kind of renter protection clause, let me know. Please let me know if there are any assistance programs available to me and or any options, ways of going about this that I should know about. Super Thanks!

She does not contribute to my income or pay any portion of the mortgage. What can I do to have her information removed from consideration for a loan modification? Should I only submit my pay stubs? Or file to have her name removed from the title?

She does not contribute to my income or pay any portion of the mortgage. What can I do to have her information removed from consideration for a loan modification? Should I only submit my pay stubs? Or file to have her name removed from the title?

Need some practical advice. I live in CA and I have a jumbo loan that doesn't qualify for any of the loan modification/assistance programs. We can pay our loan now but we will be in bad shape when our 10 yr interest only loan adjusts in 6 years. That's what I am worried about. With the value of our home now, we will not even have 15% equity in 6 years. I have called my lender but I wanted to see if anyone has any good advice for me.

Need some practical advice. I live in CA and I have a jumbo loan that doesn't qualify for any of the loan modification/assistance programs. We can pay our loan now but we will be in bad shape when our 10 yr interest only loan adjusts in 6 years. That's what I am worried about. With the value of our home now, we will not even have 15% equity in 6 years. I have called my lender but I wanted to see if anyone has any good advice for me.

I have a Citi Mortgage payment of $2525 a month. I am behind on my mortgage. I am currently not living in the home. It was a rental home when I was transferred out of the area. I am now back home and want to move back into the home but with bad renters who never paid I am behind on the payments and foreclosure is right around the corner. I am making on average of $5000 a month. My total bills with out the mortgage payment is $2200 a month. Do you think Citi will work with me and if so in what way? My current interest rate is 5.5% on a 30 yr fixed rate.

I have a Citi Mortgage payment of $2525 a month. I am behind on my mortgage. I am currently not living in the home. It was a rental home when I was transferred out of the area. I am now back home and want to move back into the home but with bad renters who never paid I am behind on the payments and foreclosure is right around the corner. I am making on average of $5000 a month. My total bills with out the mortgage payment is $2200 a month. Do you think Citi will work with me and if so in what way? My current interest rate is 5.5% on a 30 yr fixed rate.

My mom and I are in a lot of trouble thanks to my dad. They just got divorced and I mom filed for a loan modification for our house but it didn't go through. We really need some money to pay for our house and the such. Any ideas? I can't get a job yet because I'm too young. My mom can't get a second job either because she already works all day. So thanks for any ideas you may have.

My mom and I are in a lot of trouble thanks to my dad. They just got divorced and I mom filed for a loan modification for our house but it didn't go through. We really need some money to pay for our house and the such. Any ideas? I can't get a job yet because I'm too young. My mom can't get a second job either because she already works all day. So thanks for any ideas you may have.

i'm considering doing a short sale, but i have not many 90 days and 120 days late on my mortgage, i have not paid for the past 14 months. I have been trying to do a loan modification and it took this long, but the modification was still not affordable to me, so wanted to know if a short sale is a good idea, or because i have so many 90 and 120 day late items on my credit, it doesnt matter whether I do a short sale or bankruptcy my credit is already bad right? How long would i expect before i can purchase a home, under either conditions? i'm just thinking if my credit is already ruined and bad anyways, might as well do a bankruptcy and start fresh. i have three 90's, and three 120's day lates on the mortgage only, everything else on my credit is on time.

i'm considering doing a short sale, but i have not many 90 days and 120 days late on my mortgage, i have not paid for the past 14 months. I have been trying to do a loan modification and it took this long, but the modification was still not affordable to me, so wanted to know if a short sale is a good idea, or because i have so many 90 and 120 day late items on my credit, it doesnt matter whether I do a short sale or bankruptcy my credit is already bad right? How long would i expect before i can purchase a home, under either conditions? i'm just thinking if my credit is already ruined and bad anyways, might as well do a bankruptcy and start fresh. i have three 90's, and three 120's day lates on the mortgage only, everything else on my credit is on time.

I have a house that I rent out because I had to move out of state for work temporarily, and money has been tight due to being laid off for a year and never really being able to get caught up. The person renting the house moved out, and I went a month without any rental income, plus I had to spend $1,000 to fix the place up in order to get it re-rented. To make a long story short, I got 2 months behind, and was told by the mortgage company that I would qualify for a loan modification so I filled out the paperwork and sent it in immediately. I also got the house rented out so I had enough to send in 2 payments and they sent the uncashed check back with a note saying it wasn't the proper amount, and that I had to contact this lawyer to get the correct amount! Well, I called the lawyer and had to leave a message, the lawyer never called me back so 2 weeks later I call the mortgage company, and ask what the holdup is with the modification application, and they won't give me any answers, so I ask them what I am supposed to do in the meantime since they won't even accept my check because it's not the right amount, and so far I don't even know what the right amount is! Their answer was to hold onto the money until either the lawyer gets back to me, or the loan modification people get back to me. So this weekend I get a letter from the lawyer saying I owe the entire amount on the loan!! WTF! Now I need to know what my options are, is there a way for me to even get caught up on the payments at this point? I really don't want to file bankruptcy, but if that's the only way to save my house I guess I am open to that possibility, but I'd rather just be able to send in what I owe to get current, and at this point I don't even care about the modification, I can come up with the months that I owe as my financial situation is much better than it was 2 months ago, heck I could even pay a couple months in advance! I just feel lied to by the mortgage company, had I known they would drag their feet with this modification process, I wouldn't have even bothered and I would have temporarily borrowed money from family to pay the late month's payment, but they made it seem like it would be such an easy and quick process! It's so darn frustrating!!!

I have a house that I rent out because I had to move out of state for work temporarily, and money has been tight due to being laid off for a year and never really being able to get caught up. The person renting the house moved out, and I went a month without any rental income, plus I had to spend $1,000 to fix the place up in order to get it re-rented. To make a long story short, I got 2 months behind, and was told by the mortgage company that I would qualify for a loan modification so I filled out the paperwork and sent it in immediately. I also got the house rented out so I had enough to send in 2 payments and they sent the uncashed check back with a note saying it wasn't the proper amount, and that I had to contact this lawyer to get the correct amount! Well, I called the lawyer and had to leave a message, the lawyer never called me back so 2 weeks later I call the mortgage company, and ask what the holdup is with the modification application, and they won't give me any answers, so I ask them what I am supposed to do in the meantime since they won't even accept my check because it's not the right amount, and so far I don't even know what the right amount is! Their answer was to hold onto the money until either the lawyer gets back to me, or the loan modification people get back to me. So this weekend I get a letter from the lawyer saying I owe the entire amount on the loan!! WTF! Now I need to know what my options are, is there a way for me to even get caught up on the payments at this point? I really don't want to file bankruptcy, but if that's the only way to save my house I guess I am open to that possibility, but I'd rather just be able to send in what I owe to get current, and at this point I don't even care about the modification, I can come up with the months that I owe as my financial situation is much better than it was 2 months ago, heck I could even pay a couple months in advance! I just feel lied to by the mortgage company, had I known they would drag their feet with this modification process, I wouldn't have even bothered and I would have temporarily borrowed money from family to pay the late month's payment, but they made it seem like it would be such an easy and quick process! It's so darn frustrating!!!

I have several issues that I need advise on: I am a current landlord that has rented my home for the last year. From the first month my tenant has deposited the rent late (the rental agreement states that rent must be paid by the 1st). The rental agreement also indicates that a late fee will be applied after the 5th so she views this as a grace period that she could take advantage of every month. I have been flexible and have dealt with this until this last month.... In Feb. 2010 I stopped paying my morgage to attempt to work out a loan modification with the bank. My tenant ended up finding out as documentation from the bank was delivered to the property. The renter states that it was affixed to the door, not enclosed in an envelope, however the bank claims this is false. The lease agreement ended on June 30...I issued a month to month contract, which I have not received her agreement and July 5 approaches and my renter had not paid rent. I contacted her and she stated that she would not be paying the rent until the 9th. She claims she had a discussion with my husband, who verbally agreed that she can make the payment on the 9th. That agreement did not occur. I told her that if she did not deposit rent by the 5th on the 6th I would issue a 3 day notice. I issued the 3 day notice and still by the 9th, she has not paid. I contacted her and asked her when she will have her property removed and I can pick up the keys. She said she will not give me the keys any earlier than the 20th. Here are my questions: I know I can file an unlawful detainer but if she is going to vacate on the 20th, should I still proceed? She claims if I take her to court, she has copies of the Notices of Default that she will present to the court. I do not believe that my obligation to the morgage company has anything to do with her obiligation to pay me rent. Further, the fact that she has not only read paperwork that was addressed to me, she has copies of it!!! Is this legal?

I have several issues that I need advise on: I am a current landlord that has rented my home for the last year. From the first month my tenant has deposited the rent late (the rental agreement states that rent must be paid by the 1st). The rental agreement also indicates that a late fee will be applied after the 5th so she views this as a grace period that she could take advantage of every month. I have been flexible and have dealt with this until this last month.... In Feb. 2010 I stopped paying my morgage to attempt to work out a loan modification with the bank. My tenant ended up finding out as documentation from the bank was delivered to the property. The renter states that it was affixed to the door, not enclosed in an envelope, however the bank claims this is false. The lease agreement ended on June 30...I issued a month to month contract, which I have not received her agreement and July 5 approaches and my renter had not paid rent. I contacted her and she stated that she would not be paying the rent until the 9th. She claims she had a discussion with my husband, who verbally agreed that she can make the payment on the 9th. That agreement did not occur. I told her that if she did not deposit rent by the 5th on the 6th I would issue a 3 day notice. I issued the 3 day notice and still by the 9th, she has not paid. I contacted her and asked her when she will have her property removed and I can pick up the keys. She said she will not give me the keys any earlier than the 20th. Here are my questions: I know I can file an unlawful detainer but if she is going to vacate on the 20th, should I still proceed? She claims if I take her to court, she has copies of the Notices of Default that she will present to the court. I do not believe that my obligation to the morgage company has anything to do with her obiligation to pay me rent. Further, the fact that she has not only read paperwork that was addressed to me, she has copies of it!!! Is this legal?

I keep reading to just call your lender and not hire a third party to apply for a mortgage modification. I called them last year when I fell behind and gave my financials 'off the top of my head' and they said I didn't have enough income left over for them to make the modification. Ok, so my income/expenses have been adjusted somewhat and with the additional plans available I thought I would try again. So I get my pay stub and bank account online in front of me and called back. I tell the girl that I have everything in front of me so I can give her accurate data and she says good because once we go over this you cannot go back. Well, the girl rushed me through the questions so fast I hardly had time to think. If I tried to look something up she was going 'hello hello hello'. Jeez. So she said I have to call back next week because my account is locked but I ran the ratio after the call and I'm at 45%. That can't be right or else I could make the payment so I know I'm going to get denied again and I have no way of getting caught back up. I'm going to run through my expenses and see what I missed and then try to get them to add that before they run it on Tuesday but I don't know if they will since she told me that once I answered I couldn't go back. Any suggestions from you experts? This is a BOA loan.

I keep reading to just call your lender and not hire a third party to apply for a mortgage modification. I called them last year when I fell behind and gave my financials 'off the top of my head' and they said I didn't have enough income left over for them to make the modification. Ok, so my income/expenses have been adjusted somewhat and with the additional plans available I thought I would try again. So I get my pay stub and bank account online in front of me and called back. I tell the girl that I have everything in front of me so I can give her accurate data and she says good because once we go over this you cannot go back. Well, the girl rushed me through the questions so fast I hardly had time to think. If I tried to look something up she was going 'hello hello hello'. Jeez. So she said I have to call back next week because my account is locked but I ran the ratio after the call and I'm at 45%. That can't be right or else I could make the payment so I know I'm going to get denied again and I have no way of getting caught back up. I'm going to run through my expenses and see what I missed and then try to get them to add that before they run it on Tuesday but I don't know if they will since she told me that once I answered I couldn't go back. Any suggestions from you experts? This is a BOA loan.

I had been pre-approved for a modification a year ago. I've made all my trial payments on time, submitted all my paperwork. They had a complete file last month so they submitted it to the underwriter (finally) for final review and the status said final stages, and I was informed they'd have the documents ready to sign in a week or two. The last time I called, they said the loan was declined! I was shocked, when I asked for the reason they said because I have a PO Box listed as my mailing address so they have to assume I don't live there. I have since faxed them my utility bills which show I am billed to that address, my driver's license is registered there, I LIVE there. They are not budging. I even canceled my PO Box and moved my mail back to my address but it's like it's too late. Do you think there's another real reason they're declining it without telling me? They have converted my loan now into a "late" status as if I hadn't paid for a year as they've kicked out the trial period due to canceling the modification and are putting my home in foreclosure!!! They are all close minded uneducated mean reps when I call who can't think rationally to help out, are black/white "well if the computer assumes you don't live there then you don't". Seems so wrong, please help with any ideas what I can do before I become homeless.

I had been pre-approved for a modification a year ago. I've made all my trial payments on time, submitted all my paperwork. They had a complete file last month so they submitted it to the underwriter (finally) for final review and the status said final stages, and I was informed they'd have the documents ready to sign in a week or two. The last time I called, they said the loan was declined! I was shocked, when I asked for the reason they said because I have a PO Box listed as my mailing address so they have to assume I don't live there. I have since faxed them my utility bills which show I am billed to that address, my driver's license is registered there, I LIVE there. They are not budging. I even canceled my PO Box and moved my mail back to my address but it's like it's too late. Do you think there's another real reason they're declining it without telling me? They have converted my loan now into a "late" status as if I hadn't paid for a year as they've kicked out the trial period due to canceling the modification and are putting my home in foreclosure!!! They are all close minded uneducated mean reps when I call who can't think rationally to help out, are black/white "well if the computer assumes you don't live there then you don't". Seems so wrong, please help with any ideas what I can do before I become homeless.

Hey guys, Im looking into buying my first car, and don't want to bother going through all the BS of a Car Loan. So im looking into a Personal Loan with ANZ. My questions are as follow; 1. When I get the loan, can I go to the bank and withdraw 10k cash straight away? And will they have that sort of money on hand? 2. Can I take out a few extra thousand (say 4-5) for modification for the car, and repayment of a loan to my dad? And use about $500 for transport of the vehicle/petrol for me to drive it home (about 800k's) 3. How long do I have to completely drain the loan? 4. Can I transfer any of the loan money into my personal account for ease of use? Or will they have some sort of seperate account for me? 5. Will they see any of this as suspicious or the like? Thats all I can really think of right now that Im unsure on.. And I dont mean to be rude but im not asking for your personal thoughts on how I spend my money, I just want to know if i can do what i want with this money without getting in trouble.. The last thing i want to do is get in a, well for lack of a better word,"fight" with a bank... EDIT 1- Ah sorry I forgot to mention that Im in Australia. My bad. I have about 6k in collateral but either my dad or brother will go guarentuer(?), if the bank requires it. I dont really care about the IR as there is barely any change between the banks here. (usually around 14% from memory) And I dont do much with the cash i earn apart from drink it away, which im totally fine parting with if it means i can get my car. I guess i should stop being such a pussy and just talk to the bank.. But I wanted to know some background on what i could do with the money first.. I already bank with ANZ and they seem pretty good so far. Though that is only through general finance account for everyday use.. So any bank is good at that..

Hey guys, Im looking into buying my first car, and don't want to bother going through all the BS of a Car Loan. So im looking into a Personal Loan with ANZ. My questions are as follow; 1. When I get the loan, can I go to the bank and withdraw 10k cash straight away? And will they have that sort of money on hand? 2. Can I take out a few extra thousand (say 4-5) for modification for the car, and repayment of a loan to my dad? And use about $500 for transport of the vehicle/petrol for me to drive it home (about 800k's) 3. How long do I have to completely drain the loan? 4. Can I transfer any of the loan money into my personal account for ease of use? Or will they have some sort of seperate account for me? 5. Will they see any of this as suspicious or the like? Thats all I can really think of right now that Im unsure on.. And I dont mean to be rude but im not asking for your personal thoughts on how I spend my money, I just want to know if i can do what i want with this money without getting in trouble.. The last thing i want to do is get in a, well for lack of a better word,"fight" with a bank... EDIT 1- Ah sorry I forgot to mention that Im in Australia. My bad. I have about 6k in collateral but either my dad or brother will go guarentuer(?), if the bank requires it. I dont really care about the IR as there is barely any change between the banks here. (usually around 14% from memory) And I dont do much with the cash i earn apart from drink it away, which im totally fine parting with if it means i can get my car. I guess i should stop being such a pussy and just talk to the bank.. But I wanted to know some background on what i could do with the money first.. I already bank with ANZ and they seem pretty good so far. Though that is only through general finance account for everyday use.. So any bank is good at that..

Applied for a loan modification and/or Special Forbearance due to health issues and loss of income because of having to repossess property I had sold on installment plan. Bank asked for more information re:copies of rental property leases etc., mailed that today. Got letter in mail this afternoon transferring my loan to loan servicing company. Where does that leave me? Do I have to pay past due payments now or will they immediately foreclose on me? I have more than $250,000 equity in this home,at least I did until the Gulf Oil Spill. This house is only 300 yds off beach and since I do not occupy home I'm eligible for no kind of help, even though I've made payments for 14 years and most of my retirement is tied up in this piece of property. I would gladly sell if I could, but surrounding properties are for sale now on market more than 2 years. No buyers out there.....banks took bailout money and sit on it. Unfortunately my loan is owned by the bank and I had been working on this modification for 3 months already. I have been told "can't find it, we're working on it, be patient, it's all in the system, need further info and week later transfered to a new mortgage servicing outfit. Just very frustrated! I have more than $250,000 equity in this home,at least I did until the Gulf Oil Spill. This house is only 300 yds off beach and since I do not occupy home I'm eligible for no kind of help, even though I've made payments for 14 years and most of my retirement is tied up in this piece of property. I would gladly sell if I could, but surrounding properties are for sale now on market more than 2 years. No buyers out there.....banks took bailout money and sit on it. Unfortunately my loan is owned by the bank and I had been working on this modification for 3 months already. I have been told "can't find it, we're working on it, be patient, it's all in the system, need further info and week later transfered to a new mortgage servicing outfit. Just very frustrated!

Applied for a loan modification and/or Special Forbearance due to health issues and loss of income because of having to repossess property I had sold on installment plan. Bank asked for more information re:copies of rental property leases etc., mailed that today. Got letter in mail this afternoon transferring my loan to loan servicing company. Where does that leave me? Do I have to pay past due payments now or will they immediately foreclose on me? I have more than $250,000 equity in this home,at least I did until the Gulf Oil Spill. This house is only 300 yds off beach and since I do not occupy home I'm eligible for no kind of help, even though I've made payments for 14 years and most of my retirement is tied up in this piece of property. I would gladly sell if I could, but surrounding properties are for sale now on market more than 2 years. No buyers out there.....banks took bailout money and sit on it. Unfortunately my loan is owned by the bank and I had been working on this modification for 3 months already. I have been told "can't find it, we're working on it, be patient, it's all in the system, need further info and week later transfered to a new mortgage servicing outfit. Just very frustrated! I have more than $250,000 equity in this home,at least I did until the Gulf Oil Spill. This house is only 300 yds off beach and since I do not occupy home I'm eligible for no kind of help, even though I've made payments for 14 years and most of my retirement is tied up in this piece of property. I would gladly sell if I could, but surrounding properties are for sale now on market more than 2 years. No buyers out there.....banks took bailout money and sit on it. Unfortunately my loan is owned by the bank and I had been working on this modification for 3 months already. I have been told "can't find it, we're working on it, be patient, it's all in the system, need further info and week later transfered to a new mortgage servicing outfit. Just very frustrated!

I started missing payments on my mortgages (1st and HELOC).. my first is with IndyMac ($350,000) and HELOC is with Chase ($45,000 balance).. I put in applications for loan modification and IndyMac approved it and we're good now with lower payments. But Chase denied me and closed my account and now asking me to pay the balance of my HELOC account. Off course I don't have that much money ($45,000) Is there anything bad that they can do to me, like foreclosing my house? I mean I'm now current with my 1st mortgage lender, IndyMac, so if Chase want to foreclose they'll have to pay off IndyMac first, right? please give me some advices what I can do.. thanks

I started missing payments on my mortgages (1st and HELOC).. my first is with IndyMac ($350,000) and HELOC is with Chase ($45,000 balance).. I put in applications for loan modification and IndyMac approved it and we're good now with lower payments. But Chase denied me and closed my account and now asking me to pay the balance of my HELOC account. Off course I don't have that much money ($45,000) Is there anything bad that they can do to me, like foreclosing my house? I mean I'm now current with my 1st mortgage lender, IndyMac, so if Chase want to foreclose they'll have to pay off IndyMac first, right? please give me some advices what I can do.. thanks

I have a 3 bdrm 2 bath mobile home on 2 ½ ac, it’s in pretty good condition. I had some real trouble back in 2007 and almost lost my home. I finely got a loan with an investment Company but the interest is real high. Things are going pretty good now, so last month I went to refinance to get a lower interest rate for my mortgage but found out my home is now only worth a 1/3 of what I owe. I’m current on all payments and taxes but paying too much for the monthly payments. Is there a loan modification I can look into or should I walk away? I would like to say where I’m at but the house will never be worth what I owe. I would never be able to sell it I have too many years left on the loan. Any advice?

I have a 3 bdrm 2 bath mobile home on 2 ½ ac, it’s in pretty good condition. I had some real trouble back in 2007 and almost lost my home. I finely got a loan with an investment Company but the interest is real high. Things are going pretty good now, so last month I went to refinance to get a lower interest rate for my mortgage but found out my home is now only worth a 1/3 of what I owe. I’m current on all payments and taxes but paying too much for the monthly payments. Is there a loan modification I can look into or should I walk away? I would like to say where I’m at but the house will never be worth what I owe. I would never be able to sell it I have too many years left on the loan. Any advice?

i've recived the information from the bank to apply for the modification of the loan, but ive also heard of a law firm who will represent my case for a fee. is it worth it to have this representation, or will i be wasting more money?

i've recived the information from the bank to apply for the modification of the loan, but ive also heard of a law firm who will represent my case for a fee. is it worth it to have this representation, or will i be wasting more money?

I owe 81,147 and pay 674.00 per month (fixed) for the next 13 1/2 years. I started with a 20 yr fixed mortgage at 5.15%. My bank told me they could drop the fixed rate to 3% for one year if I went to a 30yr fixed mortgage at the same 5.15%. I approached them because I lost my job. My bank didn't take any tarp money so they can't use any Federal loan modification plan. Should I take the 30yr fixed at the same rate but get only 3% the first year or should I just grin and bear what I already have? I may lose my house one way or another but the 30yr deal will really drop my monthly payments. What do you think?

I owe 81,147 and pay 674.00 per month (fixed) for the next 13 1/2 years. I started with a 20 yr fixed mortgage at 5.15%. My bank told me they could drop the fixed rate to 3% for one year if I went to a 30yr fixed mortgage at the same 5.15%. I approached them because I lost my job. My bank didn't take any tarp money so they can't use any Federal loan modification plan. Should I take the 30yr fixed at the same rate but get only 3% the first year or should I just grin and bear what I already have? I may lose my house one way or another but the 30yr deal will really drop my monthly payments. What do you think?

it has been six months that we have not paid the mortgage and in the process of selling the house, and 3 denials for the loan modification...how much longer before we get a yes?

it has been six months that we have not paid the mortgage and in the process of selling the house, and 3 denials for the loan modification...how much longer before we get a yes?

Bank of America sold our loan to BAC Home Loans, in March. We've been trying to get our home loan modification through since December. We sent all the paperwork to them in January, and they received it and assured us they had everything they needed. Month to month, we've called inquiring about the status of our loan modification. We've been getting the runaround, and after my husband called today - we found out that we had apparently "declined an offer." Now they're telling us we have to re-submit all the paperwork and start over again. They never even gave us an offer to decline! All the communication has been from us - we don't receive anything from them except our mortgage statements. Is there anything I can do to hold them accountable for their actions? (Besides BBB) Each time I call, I document what happens - I get their names and speak to managers and get phone numbers... but it seems like they're not trying to work with me at all, and they're just impeding any progess we make. Has this happened to anyone else? What can be done? I want to plaster a "I Hate Bank of America" sign on my house!

Bank of America sold our loan to BAC Home Loans, in March. We've been trying to get our home loan modification through since December. We sent all the paperwork to them in January, and they received it and assured us they had everything they needed. Month to month, we've called inquiring about the status of our loan modification. We've been getting the runaround, and after my husband called today - we found out that we had apparently "declined an offer." Now they're telling us we have to re-submit all the paperwork and start over again. They never even gave us an offer to decline! All the communication has been from us - we don't receive anything from them except our mortgage statements. Is there anything I can do to hold them accountable for their actions? (Besides BBB) Each time I call, I document what happens - I get their names and speak to managers and get phone numbers... but it seems like they're not trying to work with me at all, and they're just impeding any progess we make. Has this happened to anyone else? What can be done? I want to plaster a "I Hate Bank of America" sign on my house!

Hi, I'm trying to assist my mother her property recently foreclosed. Honestly, she really couldn't afford it, she went through a divorce and a loan modification scam. She is the sweetest old fashioned lady. I been trying to assist her with all of this, she cant even sleep at night due to this foreclosure. I'm seeking information on what happens next? or what can i do to assist her? I spoke with the lender. They said they foreclosed the home and she will be getting a "1099" and have her tax preparer deal with it. They been extremely rude. She is way upside side down, and has two loans out (original and a 2nd lien?). I thank you for your information. Also, do not hire loan modification companies/individuals THEY ARE TRULY A SCAM. They took my mother's hard earned money and didn't even do anything. Residing in CA.

Hi, I'm trying to assist my mother her property recently foreclosed. Honestly, she really couldn't afford it, she went through a divorce and a loan modification scam. She is the sweetest old fashioned lady. I been trying to assist her with all of this, she cant even sleep at night due to this foreclosure. I'm seeking information on what happens next? or what can i do to assist her? I spoke with the lender. They said they foreclosed the home and she will be getting a "1099" and have her tax preparer deal with it. They been extremely rude. She is way upside side down, and has two loans out (original and a 2nd lien?). I thank you for your information. Also, do not hire loan modification companies/individuals THEY ARE TRULY A SCAM. They took my mother's hard earned money and didn't even do anything. Residing in CA.

My current interest rate is 7.5% and I currently owe 58,000. I really need to lower my payments because I can't afford paying too much. Right now my payments are $600 a month which may not seem too much but it is for me. Anyways, I seen a few places online that offer loan modification programs and they seem promising but I was wondering if it is easier to try through your lender or to go through one of these places online? If you think online, then can you please give me the link? So far I've seen: -get-a-loan-modification.com -homelegalsource.com -usloanmodificationsolutions.com

My current interest rate is 7.5% and I currently owe 58,000. I really need to lower my payments because I can't afford paying too much. Right now my payments are $600 a month which may not seem too much but it is for me. Anyways, I seen a few places online that offer loan modification programs and they seem promising but I was wondering if it is easier to try through your lender or to go through one of these places online? If you think online, then can you please give me the link? So far I've seen: -get-a-loan-modification.com -homelegalsource.com -usloanmodificationsolutions.com

http://www.huffingtonpost.com/joe-costello/the-case-for-wiping-out-a_b_252136.html From the article: "Now, I first heard of the idea of a Jubilee a year ago, reading a piece from University of Missouri professor Michael Hudson. Then a few weeks ago, Willem Buiter of the Financial Times advocated giving a debt Jubilee some thought. Jubilee is codified in Leviticus, one of the great law books of the Jewish Torah. And of course, the Christ was the personification of Jubliee, whose birth is perceived as humanity's manumission from sin. A debt Jubilee would be a large scale manumission of debtors, or as Mr. Buiter suggests, a mass scale swap of debt for equity. There's a couple of easy things we can do such as loan modifications for underwater homeowners, writing down the principal to present market values and thus lowering monthly payments. Also, a one-time wiping away of student debt for everyone under 35 would be healthy. America is a massively indebted society, and indebted people are not free. We need to change this. If we forgive debt, we can't let people just start building more debt. We need to free them and some of our institutions from their constraining debt load, in order that we might make the changes necessary for a sustainable future."

http://www.huffingtonpost.com/joe-costello/the-case-for-wiping-out-a_b_252136.html From the article: "Now, I first heard of the idea of a Jubilee a year ago, reading a piece from University of Missouri professor Michael Hudson. Then a few weeks ago, Willem Buiter of the Financial Times advocated giving a debt Jubilee some thought. Jubilee is codified in Leviticus, one of the great law books of the Jewish Torah. And of course, the Christ was the personification of Jubliee, whose birth is perceived as humanity's manumission from sin. A debt Jubilee would be a large scale manumission of debtors, or as Mr. Buiter suggests, a mass scale swap of debt for equity. There's a couple of easy things we can do such as loan modifications for underwater homeowners, writing down the principal to present market values and thus lowering monthly payments. Also, a one-time wiping away of student debt for everyone under 35 would be healthy. America is a massively indebted society, and indebted people are not free. We need to change this. If we forgive debt, we can't let people just start building more debt. We need to free them and some of our institutions from their constraining debt load, in order that we might make the changes necessary for a sustainable future."

I have searched both Freddie Mac and Fannie Mae and neither own my mortgage. My mortgage is not FHA so it is not owned by Ginnie Mae. Am I in the 5% of mortgages that are not owned by these three organizations? If so, do I have any options for loan modification if I am in the 5%?

I have searched both Freddie Mac and Fannie Mae and neither own my mortgage. My mortgage is not FHA so it is not owned by Ginnie Mae. Am I in the 5% of mortgages that are not owned by these three organizations? If so, do I have any options for loan modification if I am in the 5%?

track record for getting people loan modifications and how long does it take

track record for getting people loan modifications and how long does it take