Merchant Reply:
It looks like your in a no win situation, because your losing groune (Losing any equity) on the 1st and the 2nd is still a big problem if you can't pay it off when the balloon matures. What I don't know is how far upside down are you in your house. In other words, what is the house appraised at today? and how much do you owe? ( Reply posted on July 26, 2011 )
1. house is not in forclouse
2. payments not overdue
3. House value declined.
4. 100 % fincanced 2 mortgages
5. Can't refinance 2ncd and is 15 year ballon. Predatorory lending.
Foresica Audit?
Reply to Comment
July 16, 2011
by Judy
Merchant Reply:
A forensic audit would help if you thought your loan was fraudulent such as to prove predatory lending. With a forensic audit you could then have an attorney try to negotiate with your lender for a principal reduction, loan modification or if you wanted to sell your home you might be able the bank to accept a short sale. Where are you located? ( Reply posted on July 23, 2011 )
Thank you for taking the time to respond to my question.
Sincerely,
Sharon T.
Reply to Comment August 24, 2010 by Grace Haven Counseling & Retreat Center
does a spouse's income qualify unemployed homeowner for the program?
Reply to Comment
August 18, 2010
by kathy
Merchant Reply:
Usually it does. In modifying loans, lenders will consider a spouse's income or even a companion's income if they are willing to commit to assisting with the mortgage payment. One wants to build as much income as possible to support the loan. However, they do have income to debt ratios to consider. So you want some positive cash flow, but not a lot. One needs to show some sort of hardship. ( Reply posted on August 23, 2010 )
is the maximum assistance for three months?
Reply to Comment
August 18, 2010
by Anonymous
Merchant Reply:
The program is so new, that we don't know for sure. That is the number that has been tossed around. I think each case is considered on an individualized basis to some extent. ( Reply posted on August 23, 2010 )
Forensic Audits is a powerful tool to bring your lender to the table to stop and/or prevent foreclosure.
Reply to Comment May 11, 2010 by Foreclosure Prevention Institute, LLC
A Forensic Audit examines current financial documents to see if TIL, RESPA and other federal documents followed the law and that there were no omissions. Findings are used in loan negotiations.
Reply to Comment May 11, 2010 by Foreclosure Prevention Institute, LLC
What is a forensic audit?
Reply to Comment
May 04, 2010
by Tony's Tunes Entertainment Service
Thank You for the connection Captain Mike
Reply to Comment May 03, 2010 by Nelsons Lake Michigan Charter Services Grand Haven MI
I am a condo association member and wondering if the new foreclosure law (that includes loan modification agreements) that was enacted this past July applies to condo maintenance fees? Please help!
Reply to Comment
November 30, 2009
by Tony
Merchant Reply:
Hi Tony, Condo maintenance fees are not considered part of mortgages, so the law would have no impact on condo fees. Condo maintenance fees are in addition to any mortgage payment. If you need clarification, please call Dave at 1.800.826.1929. ( Reply posted on December 14, 2009 )
Im a single mom and I need help to keep my home. Im unemployed but will have income for 3 years I an a full time student. HELP!
Reply to Comment
October 01, 2009
by Anonymous
Merchant Reply:
In order to obtain a loan modification, you need to be able to convince the bank or your lender that your hardship is over and that you can make timely monthly payments. You need to show that you have income from somewhere -- social security, a room-mate, alimony, a job or whatever. I don't quite understand your situation "will have income for 3 years." Call our hotline 1.800.826.1929 and we will answer your questions and discuss your situation. ( Reply posted on October 13, 2009 )
Air Duct Cleaning by DUCTZ is Energy Star rated and is always here to help with Indoor Air Quality issues in the Grand Rapids Holland and Grand Haven area. Call 616-662-1573 anytime!
Reply to Comment September 25, 2009 by Ductz Air Duct Cleaning of Grand Rapids MI Holland and Grand Haven
Air Duct Cleaning by DUCTZ is Energy Star rated and is always here to help with Indoor Air Quality issues in the Grand Rapids Holland and Grand Haven area. Call 616-662-1573 anytime!
Reply to Comment September 14, 2009 by Ductz Air Duct Cleaning of Grand Rapids MI Holland and Grand Haven
I need to refinance my condo because I have an arm that will adjust again in November. I am also in the process of a divorce. I have poor credit and a high interest rate on my mortgage. HELP!
Reply to Comment
July 10, 2008
by Miriam B.
Merchant Reply:
Hi Miriam I just read your message about wanting to refinance your condo. I have a couple of questions for you. Has your financial situation stablized so that we possibly could do a credit repair, and then possibly refinance. Even if you have poor credit, it may be possible to try and negotiate a loan modification through your lender. It is not a guarantee, but it would be better than refinancing since there would not be a lot of closing costs involved. When did your divorce happen (before or after you bought the condo)? Where are you located? Let's talk. Call 1 800 826-1929. Ask for Dave or Janet. Hope to hear back from you. ( Reply posted on July 25, 2008 )
Welcome! We are honored to have you in our network. Thank you!
Reply to Comment
June 30, 2008
by Consumers Fair Credit Alliance, LLC
Janet, thanks for networking with us. Please send me an email or call me 407 319-3369 to discuss the referrals you were interested in talking about. Juan
Reply to Comment June 29, 2008 by United First Financial - Money Merge Account - Pay Off Your Mortgage and Debt!
i need help to refiniance my home but i have to much debt due to a divorce i need to get my exwifes name off the loan i have now
Reply to Comment
April 30, 2008
by richard silva
Merchant Reply:
Hi Richard, Good evening. Yes, I would like to help you. I have several questions for you. Do you think you might have some equity in your home that we could refinance to pay down on your debt? Is your ex-wife through your divorce settlement entitled to half the equity in your home or would she be willing to quit claim her interest to you? Where is your home located? Are you working, retired or self-employed? I would be happy to talk to you. Just leave me a phone number and the best time to call or call our 800 number. 1 800 826-1929. Either Dave or myself will answer. Dave is an appraiser and he knows a lot about creative financing. I also help people refinance. Thank you for visiting our site. ( Reply posted on April 30, 2008 )
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MA - I have been offered help to refinance first - at a lower rate for the cost of what I have paid off so far. (further in debt) and they won't touch the 2nd which is interest only/ballon.
Judy, July 24, 2011
Merchant Reply:
It looks like your in a no win situation, because your losing groune (Losing any equity) on the 1st and the 2nd is still a big problem if you can't pay it off when the balloon matures. What I don't know is how far upside down are you in your house. In other words, what is the house appraised at today? and how much do you owe?
July 26, 2011
1. house is not in forclouse
2. payments not overdue
3. House value declined.
4. 100 % fincanced 2 mortgages
5. Can't refinance 2ncd and is 15 year ballon. Predatorory lending.
Foresica Audit?
Judy, July 16, 2011
Merchant Reply:
A forensic audit would help if you thought your loan was fraudulent such as to prove predatory lending. With a forensic audit you could then have an attorney try to negotiate with your lender for a principal reduction, loan modification or if you wanted to sell your home you might be able the bank to accept a short sale. Where are you located?
July 23, 2011
Thank you for taking the time to respond to my question.
Sincerely,
Sharon T.
Grace Haven Counseling & Retreat Center, August 24, 2010
does a spouse's income qualify unemployed homeowner for the program?
kathy, August 18, 2010
Merchant Reply:
Usually it does. In modifying loans, lenders will consider a spouse's income or even a companion's income if they are willing to commit to assisting with the mortgage payment. One wants to build as much income as possible to support the loan. However, they do have income to debt ratios to consider. So you want some positive cash flow, but not a lot. One needs to show some sort of hardship.
August 23, 2010
MA - I have been offered help to refinance first - at a lower rate for the cost of what I have paid off so far. (further in debt) and they won't touch the 2nd which is interest only/ballon.