There are a lot of people in the exact same position so #1 you are not alone. Explore every possible option but understand that every option will involve money there is no way around that...There are some qualifications that you will have to meet for a loan modification program. Get a FREE consultation immediately to find out out if you qualify and what your options are at this point. You may need a loan audit. The fact is many lenders extended loans with illegal terms. Talk to an experienced professional right away. The biggest mistake that people make is waiting too late. Do something now including exploring alternatives for supplementing your income.
by marenda - 10 hours ago
You may have to face the inevitable. Sometimes the best thing to do is to realize that you can't keep your house. Instead of letting the bank foreclose on you, and ruin your credit plus put you through all that grief, talk to the bank about a "deed in lieu of foreclosure". This is a mechanism where you deed the house over to the bank, saving the bank the hassle of foreclosure and saving your credit. God bless you and your husband. This is never an easy decision!
by rtrentmartin - 10 hours ago
1) Is it too late to try for a loan modification? No, although if you can't pay there is no way to modify the loan. You have to prove you have the ability to pay. 2) Is there a way to save our home that doesn't include money? No. Remember, you already have the banks money, this is just you repaying it. 3) What should we do from this point on. If you only have 500 here and there you may as well start looking for a new place to live, you will not be allowed to both keep the banks money and the house. They deserve the right to try and recover as much as they can.
by Landlord - 10 hours ago
We just went threw the same thing. We also had wells fargo and most likely soon they wont except money from you cause your house well be foreclosure. So the only way you can save your house with out spending money is to go to your local court house and talk to them about paying you mortgage and give them the money. I know it sounds crazy but when your cases goes to court the judge will see that you had been giving money to them cause they would no longer accept it. And most likely he will end it there, but if not they will give you all your money back. Hope this helps, just know your not the only one cause we just found out we could have been paying to the court house. But its to late for us just found out yesterday there taking are home. So much luck to you and your family. Talk to you court house they can give you more info on this.
by Brittany M - 10 hours ago
Even with a mortgage modification you cannot afford the home 500 whenever you can send it is unacceptable.
by ? - 10 hours ago
in order to save this home there must be income to pay the note or even at best catch it up. With out that a forbearance agreement or even modification is out of the picture and foreclosure is all that is left to do
by golferwhoworks - 10 hours ago
NOT enough info provided to fully answer TALK to your lender, talk to multiple people at your lender, PERSIST Draw up a budget
by chatsplas - 10 hours ago
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