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There are ALTERNATIVES that allow you to keep the house such as: part 8

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Services for Real Estate Pros with Laura Moore Godek, PC

 

REAMORTIZATION.

When a loan is reamortized, the delinquency is added to the loan balance in order to bring your payments up to date. This increases your loan amount and will also increase your monthly payments. The amount of the payment increase will not be as great if the life of your loan is extended at the same time. Some VA loans and other types of loans may be able to be reamortized.

REFUNDING.

If you have a VA loan and the ability to make the mortgage payments, or will have the ability to make the payments in the future, and your mortgage company has decided to continue to foreclose, you may qualify for refunding. The VA has the discretionary authority to buy a loan from the mortgage holder and take over the service. This is called "refunding." If refunding is appropriate, the VA will notify you

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Derek Heppe
Ace Realty - North Myrtle Beach, SC
BIC, CRS,CNHS, CREN, GREEN

Thank you for the extra incite. 

Aug 29, 2008 09:14 AM
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Rainer
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Laura Moore Godek

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I have more than 20 years of residential real estate experience represnting sellers, purchasers and creative investors. My affiliation with several title companies and in house closers assure clients and realtors closing times when needed. I am often available after hours and on weekends. I offer fixed closing fees as well as hourly rates. My office can also accomodate spanish speaking clients. If you have any questions please contact us. We'd be happy to help.

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