Foreclosure Help Is Available

RE:Foreclosure Help Is Available

Sue — Mon, 20 Aug 2007 11:00:00 GMT

There is a ton of advise to call your lender but I've called my lender to get help and was told there isn't any help available until I am at least 30 days past due. I was laid off last month from the mtg company where I have my loan and am trying to be proactive before I miss a payment. My home has depreciated by $50k since I bought it 2 years ago and I'm already in an interest only ARM. The rep from loss mitigation say they don't have options/help for people who aren't past due yet.

RE:Foreclosure Help Is Available

marylou — Sat, 18 Aug 2007 11:00:00 GMT

Can someone help me? I have a house I bought for 400,000. I owe 379000 on it . If I sell it 379000 I just lose the 20,000 I put down but I don,t have the money to pay the broker to sell it. Can the lender help out? If this doesn't work somehow it may go to foreclosure.

RE:Foreclosure Help Is Available

Duane — Thu, 09 Aug 2007 11:00:00 GMT

Great article! The best advice is to call your mortgage company as soon as you have a problem they will work with you! Loan Officer St. louis

RE:Foreclosure Help Is Available

anonymous — Mon, 06 Aug 2007 11:00:00 GMT

People need to take responsiblity for their actions. Instead of buying what they cant afford they over buy. Why dont they spend a few dollars and have a attonery look over paperwork, because they are cheap! Why do they sign overinflated applications, why do they do stated income loans, because they know they don't make enough. What ever happened to putting money down? People need to stop living check to check and be finicaly responsible. (from a lender)

RE:Foreclosure Help Is Available

anonymous — Mon, 06 Aug 2007 11:00:00 GMT

Ruben's comment is interesting. Government should bail out the lendersthe very folks who underwrite the loans, draft the confusing verbiage that consumers do not comprehend and the same folks who sell the confusing, non suitable, high risk products to people who are not qualified for these loans. It seems to me, if government bails out anyone, it should be bailing out borrowers. The lenders knew the risks they were taking.

RE:Foreclosure Help Is Available

betty — Wed, 25 Jul 2007 11:00:00 GMT

This article could help so many people great advise. I work in loss mitigation and calling your lender and not putting it off is the first step.

RE:Foreclosure Help Is Available

Bonny Puckett — Tue, 24 Jul 2007 11:00:00 GMT

Great article! There is a lot of good information here for homeowners facing foreclosure.

RE:Foreclosure Help Is Available

Ruben — Tue, 24 Jul 2007 11:00:00 GMT

Where is the government? They bail out auto makers and airlines, why not mortgage lenders?