going thru divorce,have meeting with lawyer Dec 26th. Just found out that I am on mortgage but not on loan with my husband. Restraining order on him,he ditched all financially and hasn't paid a dime on mortgage because he isn't here. Tried for ...
Depending on the reason for Ocwen's denial of your loan modification, your options for keeping the home may become very limited.
You might re-apply for a loan modification, but have an attorney whose firm is experienced in mods review and/or submit the application on your behalf. Different lenders, like Ocwen, have specific guidelines that they look for in a homeowner's income to grant a loan modification.
You may also be able to file Bankruptcy, to prolong the process. In some districts, loan modification is more successful through the bankruptcy.
Finally, you may need to consider short-selling the house (if you do not have equity in it). Some lenders will offer a homeowner cash to complete a short sale or deed-in-lieu of foreclosure.
Avvo has a great tool for finding lawyers, make sure you speak with a Wisconsin foreclosure attorney.See question
Bank of America has modified my mortgage after complaining for 4 straight years and Filling a case with the Consumer Financial Protection Bureau I finally received a permanent lower interest rate from 5.75 to 3.75. The Real Problem is On October ...
Due to the flurry of mortgage defaults in the past 5 years, I am surprised that your potential employer was not more understanding.
Unfortunately, loan modification trial payments are not considered a "mortgage payment" and it it common for these to still be reported as late on your credit report. Once the loan modification is permanent, and you make your first payment on the modified mortgage, your credit will begin to clear up.
Also, although HAMP trial loan modifications are three months, it is not uncommon for homeowners to be stuck paying trial payments for up to 6 months. Bank of America has had much trouble keeping up with the demand, and granting their clients loan modifications.
I am sorry to hear that your job offer was rescinded. I recommend to my clients who are in a situation similar to yours that they write an explanation letter, letting the potential landlord or employer know details of the situation.See question
We talk about various foreclosure defenses ... but we never talk about what a successful foreclosure defense looks like ... how does it end ? ... or does it ever end ? My foreclosure case was dismissed "with" prejudice .... and the Florida sta...
We consider a successful foreclosure defense to be when the case has been dismissed and our client is in a healthy financial situation.
For most homeowners, the answer is a loan modification so that they can begin making affordable mortgage payments again. For others, it's short-selling the property or signing a deed-in-lieu of foreclosure with a waiver of deficiency judgement written in.
It is not common to have a foreclosure case dismissed WITH prejudice. How long ago was your dismissal?See question
do you think its worth to keep it as its value at nothing right now all the houses around us selling for 50 grain I don't know whats next do I have opion or let it go its not into forcloser yet
Only you can decide to walk away from a bad investment. You would not be alone, and there's nothing to be ashamed of in making that decision.
Many people in your situation attempt a loan modification or short sale. The biggest mistake would be to just "walk away" without protecting your financial interests.
The foreclosure process in Lee County can take many months, and it can be used to your advantage. I suggest you consult with an attorney whose firm is experienced in loan modifications and foreclosure defense. Let me know if we can set up a time to speak.See question
i hired a lawyer.gave them everything they ask for.the lawyer said everything looks good.after four month i got denied again. this has happen to me since 2010.i owe about 122,000 in mortgage and taxes because of what the bank wells Fargo was telli...
When you are denied for a loan modification, the bank will provide a reason. Do you know the specific reason your modification was denied?
You may still have some options. Depending on the reason for your denial, you may be able to apply again. As others have answered, you may also want to consult a Bankruptcy attorney to discuss that route.See question
Which attorney said this. Gmac acknowledges the ordinance, however Chase doesn't know anything about it. Chase said all I need is to get them the statute and they will clear previous lates.
A loan modification brings you Current on your mortgage, so that you are not late on payments anymore. There will not be any more late fees or additional charges. Some modifications put the back-owed amount to the end of the mortgage, some defer the amount, and some forgive it.
Once you receive your loan modification and it is executed, you will be in good standing with your mortgage company again. If there is an active foreclosure lawsuit, a dismissal will need to be requested.
In over 5 years of negotiating loan modifications for foreclosure defense clients, I have never seen one that eliminates the mortgage late payments on a consumer's credit report.See question
My mothers house was recently sold at auction. The individual who bought the house is claiming that everything in the house is his, even additional add on accessories she added. At the tax collectors office I was advised that the new owner needs t...
Depending on the process in your county, you may have only 10 days until the buyer receives title to the property, at which point, he can have her evicted.
It's most definitely time to help your mother pack and prepare to leave the property. I am sorry that your family is facing this at Christmastime.
I understand that this is a sensitive subject, but may I ask why your mother waited until after the sale to address the issue? My firm is working to educate homeowners to take initiative rather than wait until what we call "(summary) judgment day" and I am continually seeking feedback from people like yourself.See question
No word from the bank about mortification. We just received a notice saying they have dropped the unknown spouses . Does this mean they are getting ready to foreclose again for the 5th time.
They're probably not foreclosing "again," but they may be finally attempting to take the property from you.
I agree with the other answer that you should check the case status on St. Lucie county's website, but I must tell you, St. Lucie's online clerk is a little complex and doesn't always reflect all of the case details.
Are your intentions to get a loan modification and stay in the home? Or are you looking to eventually let go of the property or give it back to the bank?
My firm helps with both situations.
Most of my peers here offer free consultations, and I recommend you speak with an attorney to discuss what's going on with your case.
I hired a foreclosure lawyer over a year ago from which I pay him $400/month. All want from him is to help me modify my mortgage. His excuses was from our last 2 phone calls this past 2 months was the bank never replied his emailed. I told him ...
Some people hire a lawyer to defend their foreclosure in the courts while they get a loan modification on their own.
Other people hire lawyers to defend the foreclosure in the courts AND work to negotiate their loan modification.
If you hired your attorney to defend your foreclosure and try to negotiation a loan modification for you, and he is not, then he could be violating the terms of your agreement with him.
You can ask your attorney to clarify what service he is providing you, and what work has been done on your behalf.
A Note of Caution: Every bank will tell you that you do not need a lawyer to get you a loan modification. It's generally true. It is a time consuming process, and many banks have specific guidelines that must be met in order to qualify a borrower for a loan mod.
I like to compare it to plumbing, or mechanical problems. I take my car to a mechanic because he is experienced in working on cars. A lot of homeowners benefit from having experience on their side when trying to get a loan modification. If you have someone working on your loan modification and in contact with your bank, it's generally not recommended to provide your own financial information to your bank, as it's the number one cause of a loan modification being denied. It's important to know what your attorney is actually doing for you.
Do you know the status of your foreclosure case?
If you are truly not satisfied, you are permitted to ask your attorney to withdraw from your case, but it's important you know where you are in the legal process to determine whether or not you need to hire new representation.
If you are not paying your mortgage and are in foreclosure, the negotiation process of a loan modification does NOT stop foreclosure.
The forclosure hearing is next week and if at all possible we would like to retain the house.
Because the entire balance of principal and interest is due on the death of the mortgagor, your options are limited. In addition to the above suggestions, you could apply for a loan to pay off the reverse mortgage in full.
Depending on the details of the hearing next week, you might also be able to offer a settlement to the mortgage lender.