2007-03-21 15:30:17 · 5 answers · asked by carla_harbut 1 in Business & Finance ➔ Renting & Real Estate
Yes!
Just visit: http://scbuyshouses.com
They help people in foreclosure Nationwide.
2007-03-22 20:12:45 · answer #1 · answered by shanebuyshouses 1 · 0⤊ 0⤋
Age really have nothing to do with a lender foreclosing on a property. The main reason lenders foreclose is for lack of receiving the monthly mortgage that is due.
I am taking this as they are facing foreclosure and will be served the Notice of Default. The other way in taking this is that they are in foreclosure and in 10 days the property goes to foreclosure sale.
Since I don't know which is which, I will just generally try to help by informing you of a few things you might do.
If they have just received the notice of default they should immediately call the lender and see if there is a program the lender have that they can qualify for.
Now just don't talk to anyone that answer the telephone an don't allow the person answering the telephone put you off. Ask to speak to the Loss Mitigation Department.
You might ask about
#1 A forebearance agreement
#2 A deed-in-lieu-of foreclosure
#3 Refinancing the property to an interest only loan for about 5-7 years so as to get back on their financial feet.
#4 Their short sale program
#5 Any other programs that are unique to this lender.
One thing you must remember about the programs that might be offered by the lender, you must prove that the thing that caused the financial difficulty must be over.
The other thing you might consider if one of the owners is past the age of 62 is a reverse mortgage. You may contact one by looking in the yellow pages of the telephone book. Some reverse mortgage lenders advertise in the real estate section of the daily paper in your city.
If they are facing a foreclosure sale in 10 days, you should still contact the lender for any possible programs that are available to the property owners. Time is not on their side if this is the case.
You might think of bankruptcy if there is a possibility that you can make monthly payments through a bank trustee as well as keep up with your debts as well.
If this is not possible you might want to cut your losses and run and fight again another day. When you call your lender see if they will entertain a deed-in-lieu-of-foreclosure. They might even give you some moving money if you promise not to wreck the place on the way out and that you will be out on a certain date.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-03-21 23:37:40 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
Yes, but why did you wait until ten days before. You are going to have to explain a lot more. Is foreclosure being served in 10 days? Did you get a letter or phone call that said if something isn't paid in ten days something is going to happen.
You have to provide more details so we can determine exactly what you are talking about.
2007-03-21 22:37:59 · answer #3 · answered by ttpawpaw 7 · 1⤊ 0⤋
Even Happy Gilmore took more than 10 days to save his grandma's house in the movie. He basically became a pro golfer and then got some sponsorship from Subway. If that doesn't work, I am all out of ideas.
2007-03-21 22:34:12 · answer #4 · answered by Rebbew 2 · 1⤊ 0⤋
Possibly try for a reverse mortgage...otherwise maybe trying to renegotiate the loan.
2007-03-21 22:42:28 · answer #5 · answered by Anonymous · 1⤊ 0⤋