Loan To Avoid Foreclosure

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Loan To Avoid Foreclosure

Loan To Avoid Foreclosure

Does Anyone Have Information On The Modification Loans To Avoid Foreclosure?My husband and I are still able To do our house payments so far, but we want To refi To the amount it's now worth (bought it for 480K and now worth 350K). Do we have To be behind on payments? Is there anything we can do To save our home before it's too late. Any help is greatly appreciated. Thanks!!! [ Read More ]

Should I Refinance Loan To Avoid Foreclosure When Payment Resets?Situation: -Purchased new home built less than 2yrs. ago in Pittsburg,Ca. -loan amount for 400k after 20%down payment. -loan program is a 5/1 option arm,interest rate fixed for 5yrs. @8.25%. -i'm only paying minimum payment from the 3 payment options.The minimum payment is a negative amortization. -start rate is 2%...so the monthly payment is very low but the interest is compounding at 8.25% To the balance of the loan. -FICO score is 729 -renters has given 30 day notice. -loan balance is now 430k and same home is selling for less due type of Loan and recession.I know it's gonna take some time before home values start To incline on the graphs.I just want To be prepared during the housing market healing process. Based on this information can someone give me any helpful advice.It's my first rental property and i want To do this right,Economy sucks right now and i'm not gonna be a victim from it.I worked very hard To get this far and being a single parent w/ two daughters makes it more challenging.Thanks To those who respond. [ Read More ]

Any Suggestions On Getting Out Of Debt, Loans To Avoid Foreclosure?Newly divorsed, just sold house thats behind in payments, owe more than it was sold for [ Read More ]

Do Any One Know How My Friend Could Get Help To Avoid Foreclosure On A FHA Loan.?There were rumors about an Obama Home Plan that could help out homeowners who are having financial problems. [ Read More ]

How Can I Get My Lender To Agree On A Forbearance Agreement To Avoid A Foreclosure On A 60 Days Late???My wife went through a serious medical problem and the insurance did not cover the cost of the medical bills. We were unable To pay our mortgage, now it is almost 60 days late. We are worried and facing a foreclosure. How can we Avoid it? Can the lender help with a back pay or add the back pay on our existing Loan or modify our loan??? Has anyone been in this situation, please advice. Thanks. [ Read More ]

Are There Any Options We Can Take To Avoid Foreclosure And Be Able Keep Our Home?Currently, our mortgage Loan rate has increased drastically (from 6.5% To 9.5%) since it is ARM. We were trying To refinance it but the market value of our home has decreased and it’s really hard To get a bank approve the refinancing. [ Read More ]

There Is A New Law That Mortgage Lenders Have To Show Attempts At Helping Customers Avoid Foreclosure. GMAC?said we do not qualify for the Obama's MHA program. They said our income needs To increase and/or the debts need To decrease. This, even though, payments have always been on time and in full. Is there an appeal process after being denied a Loan modification? [ Read More ]

How The New FHA Loans (Hope For Homeowners - Avoid Foreclosure) Work? I Will Explain?I was reading in www.hopenowmortgages.com details about the new program that will help us To Avoid Foreclosures and I found very interesting things ( I will list just a couple but you can visit them To read more) * The bank will have To forgive you the late payments, penalties and second mortgages you may have * The bank have To give you a new Loan for the ACTUAL appraised value * If you refinance with the Hope for Homeowner Program you have To share the equity with the FHA when you sell your home. * You cannot get a Home Equity Line of Credit or any other aditional Loan using your house * You need To have 10% equity To apply for the loan It sounds very interesting... go tho Hope Now Mortgages dot com [ Read More ]

Been Successful In Getting A Quit Claim Deed From A Bank To Avoid Foreclosure?My friend's husband left her and they are about To foreclose on their condo unless they can get the bank To take the Loan back. what are the odds? Good? Any tips To get the bank To cooperate? Or any unrelated creative ideas about the situation? one-bedroom condo, 2K/month, $280K, great location in san diego CA [ Read More ]

Will 'Home Affordable' Plan Help Me Avoid Foreclosure In A Divorce?My husband and I are divorcing. I am staying in the house, however, my husband will not contribute To the house payment. I cannot afford the payment on my income alone. We owe much more than the house is worth. Will the new 'Home Affordable' program work for me, since I can afford 31% of my gross income? Or, will it be figured on 31% of BOTH of our incomes, since both names are on the loan? [ Read More ]

Am I Doing The Right Thing To Avoid Foreclosure?Here's my situation... I have a condo and an Interest Only loan. The intrest rate went way up and I can't afford it. I've saved up and have made the payment this month but won't be able To do that again. I've tried To get a refinance but with 0 equity and a credit score just under 620, it's very difficult. My refinance guy told me the credit score may go up in a month but I have no guarantee of that. So, I've decided To sell the place. I simply want out of this whole situation. I'll rent for a while. I spoke To a realtor and my place is up for sale right now. My fear is that the market isn't very good right now and it might take a while To sell. in the meantime, I'll have To pay higher mortage next month that i simply CANNOT afford. It's not a matter of spending less, etc - the money simply isn't there. I'm not behind in any payments so but i want To speak To my bank (I'll call on Monday). Please tell me if you think I'm doing the right thing!! I'm not in Foreclosure or anything right now but I fear that if this sales process takes a long time, it might get To that point. I'm selling for a fair price To pay off the Loan and pay the realtor - I'm not looking To make a profit (if I do, that's just gravy). How likely is it that the bank says OK To partial payments until the place is sold? Other condos in my building sold in an average of 90 days so that's a positive. First - thanks To ALL who took the time To answer (keep 'em coming !! i need all the advice I can get!). In response To Josephine - I agree with you. It was a bad situation from the start and I have learned from it. My next home will have a 20% downpayment and a fixed rate loan. I have also made it a mission To tell everyone I know who is buying a place exactly what I'm going thru so they don't get into the same situation. [ Read More ]

How Do I Avoid Foreclosure?My husband left me, I can't pay the mortgages (I have 2 of them), I can't sell before 7/13 or I will be penalized 5% on EACH loan, I am unable To refinance afford the payment so I am stuck. I don't want To foreclose. Does anyone have any suggestions? [ Read More ]

When Buying A Foreclosure Is It Possible To Find Some That People Have It All But Payed Off?Has anyone thats in the industry ever found a home going into Foreclosure that has been dramatically paid down however the owner could no longer pay for it? The reason I ask is I saw on a few websites properties that the only thing owed on them was 80,000-100,000. The market values of the house from its area was over 300,000. Could you offer these people the amount To pay off the Loan and a little extra To help them out, and To Avoid foreclosure? In turn re-selling the home below market value for quick sales? Any input would be greatly appriciated. Thank you in advance. [ Read More ]

Are There Any Ptions To Get Out Of IO Loan W/ Balloon Payment?I currently have a balloon payment on an interest only Loan I can't refinance because the value has decreased. What are the options To Avoid foreclosure, refinance and/ or get rid of the house without ruining my 726 mid score (no lates). I would actually prefer To get rid of this house and get a new Loan To buy a cheaper house, if possible. Please post your suggestions. [ Read More ]

Loan To Avoid Foreclosure