Last year my house was on foreclosure list but i talked to the mortgage company and they put me on a six month forebearance agreement and told me I had 6 months to pay them there $3,000.00 so is there any loan i may get and my house is worth $80,000.00 even through I still have this foreclosure on my credit
2007-03-14 08:06:48 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Worth 80k. How much in debt is the question? Do you have enough equity to go to another mtg company and get a 2nd mortgage? More important, can you start getting payments made on BOTH loans?
Odds are you won't have much luck with lenders; might be better off trying thru friends, or taking 6 months and getting a 2nd job to pay off the 3k
2007-03-14 08:12:57 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
You may be able to refinance or get a home equity loan despite the past delinquency. You should talk to a mortgage broker in your area. Unfortunately, the new loan will probably cost more than the old loan. If you could not pay that loan, how will you pay the new one unless your circumstances have changed. Perhaps you should consider a chapter 13 bankruptcy plan that would allow you to discharge some debt while still keeping your house. Either that or consumer credit counselling which will do the same.
2007-03-14 08:12:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are certainly ways that can help you prevent foreclosure - though I would shop around and do some research with each company. The link below will take you to a mortgage foreclosure prevention company - you can always check with them, and then start looking around to see what kinds of offers are out there once you have an idea of what you are doing after speaking with someone there.
2007-03-17 13:59:03 · answer #3 · answered by brettR 2 · 0⤊ 0⤋
If you are age 62 or older and have enough equity, a reverse mortgage would stop foreclosure and eliminate a monthly payment
2007-03-14 08:15:04 · answer #4 · answered by Andy 2 · 0⤊ 1⤋
Contact a loan officer to see what they can do for you.
amanda with Premier Mortgage - 240-843-4416 - tell her Gina referred you. Applications are free.
2007-03-16 06:11:25 · answer #5 · answered by glamour girl 2 · 0⤊ 0⤋
You can do what is called a forclosure buyout. Email me and I'll give you some details. I'm a mortgage banker and I would be glad to help you out.
2007-03-14 11:05:55 · answer #6 · answered by Amber J 2 · 0⤊ 0⤋