Is there anyone out there with a legal background? My house is in foreclosure; debt servicer unwilling to help?
Monday, November 30th, 2009 at
7:54 pm
PHFA has offered to do a "short payoff" to my lender, but it has been almost a year, and the interest keeps piling up beyond belief. I am spinning my wheels and getting no where.
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Have you look at HUD.gov website? They have on their home page a link that directs you to search for non-profit orgs that can help get you a loan modification. There’s no out-of-pocket fee to you.
The process may take long to get an approval but you can prevent having a Sale Date on your property.
Hi,
It’s better to go for foreclosure if the interest rates and the principal amount have beyond your repayment capacity. At least this will help you to be in peace. Also, you can check out http://mortgagecalculato-r.com to explore possibilities of retaining your home by reworking your finances. My best wishes to you.
This is getting so common, where lenders drag their heels and then go in for a possession order without ever really giving the borrower a chance to get out from under the debt. Do you have a sale contract for at least 70% of the loan amount? If so, you need to submit a short sale package (your lender will tell you what you need to send in) to your lender. This process takes around 6 weeks for approval. Best of luck, I feel for you.
http://www.loanforeclosureinfo.com/