With the unemployment rate increasing everyday, this question is being asked more and more. I lost my job.. Will I lose my home too? This is a very touchy subject. Most folks who face job loss will fall behind on their mortgage as well as other bills. With all the talk on loan modifications, most will try to seek some help either with their lender or a 3rd party such as an Attorney. Unfortunately you will most likely be told, that without … (6 comments)
This is the biggest dilemma a homeowner is faced with when looking for help to avoid foreclosure. Who to choose, where to start and who is legit? It's not a secret that nearly 75% of Loan modification companies are fraudulent or scam artists. Loan modifications are in high demand right now. This makes it easy for scammers to pray on innocent people who usually will end up victims. Many lose their homes and the fee they invested for mitigation services. What's worse is, many homeowners entrust their last dime to an outside source who … (55 comments)
past due payments: Why won't my lender work with me?
- 06/23/08 09:57 AM
Why Won't My Lender Work With Me? See this disturbing video about a congress woman who tried to help 3 homeowners modify their loan. http://abcnews.go.com/video/playerIndex?id=6704983 What the lenders fail to realize is this is now the time to communicate with the homeowner. 'Hardship Conditions' have a tendency to be temporary in nature. Many families or individuals have now rectified that hardship condition and can now resume making monthly mortgage payments. Although mortgage companies do have Loss Mitigation departments, the reality here is mortgage companies are in the "NOTE" business. Why won't my lender work with me? They are not in the … (10 comments)
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