I Lost My Job.. Will I lose my home too?

Real Estate Broker/Owner with Property Xchange Solutions Property Wholesaler

I lost My Job.. Will I lose my home too?








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 income you won't qualify


The lenders then proceed to send you scary letters threatening you with foreclosure. So now you are feeling like there are no options for you and extremely stressed out. Don't Fret! I am here to tell you that there is still hope. Did you know that the foreclosure process from start to finish takes at least 6 months? Most likely, you will be back to work with in 6 months. 


Once you do get back to work, you will most likely qualify for a loan modification and will be able to keep your home. You have a verifiable hardship, and an income. The loan mod should bring you current on your mortgage as well as bring down your interest rate to make your payment more affordable


Usually job loss is temporary. Just calm down and stay focused on a plan to get back on your feet 


Feel free to call me if you need some advice or guidance on who to trust to negotiate your loan modification for you. 




I pledge to be 100% honest, diligent, and treat you with integrity.

More Useful Blogs:

Loan Modification Scams Update

Hire Attorney or Loan Modification Company

Loan Modification  FAQ's

Why won't my lender won't work with me?

How to Prevent Foreclosure on Your Investment Property


Choosing a Loan Modification Company



Comments (6)

Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA

A loan modification is not easy but with constant follow up it can happen it took us 11 montsh to get our approval, just stay with it

Jul 20, 2010 04:59 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

I am aware of many home owners were denied loan modification, afterworking on it for several months.

Jul 20, 2010 05:42 PM
Scott Miller
Best Connections Realty - Boca Raton, FL

The banks that were 'too large to fail' should have been allowed to fail.  It would have been painful for a year or so and then all of the toxic assets and bad loans would have snaked their way through the system. Instead, this 'genius' we have as president has given the banks the keys to our financial future.  That's why we now have 'modifications' which take 9-12 months and then fail miserably.  That's why we have short sales that are a complete joke, that take 6 months or more instead of 30 days and off the books, out of our bleeding economy.


Scott Miller, Realty Associates, Boca Raton, FL

Jul 20, 2010 08:29 PM
Callie Thompson
Property Xchange Solutions - Frederick, MD
Property Xchange Solutions

Ken- Congrats on your outcome for your loan modification. Unfortunately there are many homeowners out there getting turned down for ridiculous reasons by lenders when usually its because they can't handle their own work load.

Jul 21, 2010 03:13 PM
Callie Thompson
Property Xchange Solutions - Frederick, MD
Property Xchange Solutions

John- Exactly my thoughts...

Jul 21, 2010 03:13 PM
Callie Thompson
Property Xchange Solutions - Frederick, MD
Property Xchange Solutions

Scott- Unfortunately the homeowners are forced to get legal representation in order to take the process from 12 months to 3 or 4 months. needless to say there are many who are turned down after that long haul. 

Jul 21, 2010 03:15 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?