i work full time but wife can not due to bad health,anybody know who would be willing to help?
2007-02-23 04:27:58 · 8 answers · asked by kmgabbard07 1 in Business & Finance ➔ Renting & Real Estate
Most mortgage lenders do not want to go to foreclosure. They would much rather work with you to get the payments caught up. Foreclosure is a pain in the butt for them. They'd rather you make the payments.
The only way you are going to get this caught up though is to work with the mortgage company. If you're ignoring their letters and phone calls, you're not really doing yourself any favors. They can't help you if you don't talk to them. You may be to the point now if you're so far behind that your only remedy is paying the entire back payment but you won't know until you call them and talk to them.
Find out what your options are. TALK TO THEM.
2007-02-23 04:35:04 · answer #1 · answered by Faye H 6 · 1⤊ 0⤋
There are 2 issues to guage the following. at the starting up, have you ever been late on your loan price interior the finest 2 years? Secondly, does your state enable the lender to recuperate a deficiency? between the numerous issues maximum individuals do not comprehend is that, from time to time, having a decrease credit status would not make your credit worse. To be blunt, in case you could't get credit now, your score would not count number. maximum guidelines for genuine loan costs require no loan "lates" interior the previous 24 months. hence if you're already ninety days or extra late, it is going to be truly tricky to get financing until eventually you've a wide down price (a minimum of 30%). At that factor, including a foreclosures would not truly harm you a lot. from time to time, an stronger problem takes position if the lender is authorized to recuperate a deficiency. A deficiency takes position if the lender sales the foreclosed resources for below what you owe on it. many circumstances, the lender can sue you for the adaptation. in the journey that they could't, many circumstances the IRS will evaluate the defiency earnings and also you should pay earnings taxes on the forgiven debt. verify with your accountant to make sure how this applies to you. Getting a loan mortgage with an IRS tax lien or judgement filed adverse to you is many times even extra sturdy than attempting to get a loan with weak credit. the reliable information about a sluggish genuine resources marketplace is that the apartment marketplace has a tendency to %. up. even if it really is conceivable to succeed in this, it will be extra appropriate to employ out your apartment as a replace of letting it pass into foreclosures. Then, in a year or 2, at the same time as the marketplace ultimately possibilities up, you've the alternative of promoting the apartment or preserving it as a apartment resources. i wish this helps.
2016-12-04 20:33:49 · answer #2 · answered by plyler 4 · 0⤊ 0⤋
Are you more than 120 days past due? Have you received your notice of default yet? Called a NOD?
You could refinance, quickly, if they have not listed your home as being in foreclosure on your credit report.
1. Call your lender - see if they will work with you. If they will not, you can refinance - if you have enough value in your home to go 80 LTV or up to 85 LTV - depending on your credit (OK).
What state are you in. Call your State Government - ask for the housing division, they usually have a mediator that can come in and help you out.
But hurry - before you get the NOD in the mail.
If I can help, let me know - and Good Luck to you and your wife.
2007-02-23 08:40:53 · answer #3 · answered by W. E 5 · 0⤊ 0⤋
Are these a bunch of house payments in arrears? Your bank may give you an equity loan if your mortgage isn't new, or your home has some "equity" in it...however, this is just a bandaid...
may be easier in the long run to get your wife healthy and back to work...what's she sick from?
2007-02-23 04:40:13 · answer #4 · answered by dlancelot 2 · 0⤊ 0⤋
We started specialzing in foreclosures. Contact me asap if you're interested.
2007-02-24 10:41:13 · answer #5 · answered by Phil H 2 · 0⤊ 0⤋
I have a few questions to ask you. I may be able to help.. email me... we have a number of option we can discuss including refinance.
info@valueinflow.com
2007-02-23 12:21:07 · answer #6 · answered by rmijares 2 · 0⤊ 0⤋
please email me with you exact scenario so I can fully understand and tell you what you can do. Im a mortgage consultant and deal with similar cases on the day by day basis. Good luck
Chris diaz
seediaz@gmail.com
2007-02-23 05:44:07 · answer #7 · answered by 4walls 2 · 0⤊ 0⤋
CHARITY
2007-02-23 04:36:37 · answer #8 · answered by AVANISH JI 5 · 0⤊ 0⤋