Comments on: Let’s Help Stop Foreclosure Together

By: Paulo Hoffmann

Paulo Hoffmann — Wed, 01 Jul 2009 19:38:32 +0000

I am deeply sorry by the congress and congressman involvement on the foreclosure issue. The melt down of the financial system was caused by the financial system itself and financial institutions who pray on homeowners. These two have received tons of money.
How about the homeowners who are losing their homes ?
Something must be done to help families to keep their house.
The prices are now 1/3 when these people bought their houses and the banks want to keep the same principal, deceiving the owners on a new loan where the balance is the same. It is completely wrong and a new appraisal should be performed to finance the houses on their current value. No one will lose, because the financial institutions already receive millions for their loses. THINK !!!!!!!

By: Paul Durkin

Paul Durkin — Wed, 01 Jul 2009 16:54:29 +0000

What’s taking so long for bill to pass to help families in foreclures. It sad to see families living out they cars and that the one who’s has cars and congress is talking around a bill that can help some many people. The Gov. should work for the people, it’s shame after election noone cares. we have a smart presiden in office now, congress what your excuse?

By: Anonymous

Anonymous — Wed, 01 Jul 2009 04:42:50 +0000

what happened?

By: GATORBAIT

GATORBAIT — Wed, 18 Jun 2008 06:29:51 +0000

Carrie-

did you see my post above…i gave kris a checklist and suggested how to get this resolved for herself…

see i am not so blind…

here was my post to her-

Look through the documents you already have and see if you find anything that will show the first payment due date or that no payment is due while the student is in attending school.

If not then simply call the lender back and request that they send you something indicating when the first payment is due to start paying back the loan once graduation actually occurs. Also ask them to send you the letter that states “in school”

Technically the payments are not in a deferred status even though the interest is usually being deferred (a great little game banks play with interest charges) so that is why they are not going to give you a letter stating this, however they will give you a letter indicating the terms of repayment while in school and the timeline upon graduation.

Also ask the mortgage company what is stated on your credit report for the student loan. It may be listed as e.g. 250 x 0

Most underwriters are aware of how student loans work and if you can prove your husband is registered in school and give them documentation with the terms of the loan then that will usually clear that condition.

so here is your check list-

1-Letter from lender indicating status “in school”
2-your loan docs or something from lender indicating terms of repayment while “in school” and when actual first payment is due post graduation.

3- ask mortgage company what is the status for that loan on the credit report.

4-Sending these items together with an explanation letter that the lender explained to you that the status “in school” means no payment is due.

this should clear this issue up for you.

Good luck and let me know how it turns out.

By: Carrie

Carrie — Tue, 17 Jun 2008 15:08:50 +0000

KRIS,

do you have your original school loan documents, a lot of times they have there the expected graduating date + when the first payment will be due.

& usually when you do take out a school loan to study at a tech college you do not start repayments until 6 – 12 months after you graduate…. double check, or go directly to the financial aide office who did your paperwork and ask them to get a letter from them stating exactly when the first payment is due.

By: Carrie

Carrie — Tue, 17 Jun 2008 15:03:18 +0000

Jarre James – check out http://www.loansafe.org
There is a huge community of people & families going through the same thing right now. You will find help & solutions.

Good Luck !

By: GATORBAIT

GATORBAIT — Tue, 17 Jun 2008 09:07:01 +0000

db…

if your husband is not on title then what is typically acceptable to fannie mae is the following:

execute a contract for sale from you to your husband. Make it for the full value with a seller contribution for a 20% gift of equity (for the 20% down payment requirement) and seller (you) to pay all closing costs.

You will want to check with your accountant to determine if there is any tax liability you may be subject.

Good luck..

By: Jarre James

Jarre James — Mon, 16 Jun 2008 23:10:45 +0000

I am currently writing to request immediate assistance with my loan modification with HSBC Services. I was unemployed for about 6 months or so, but have regained employment as of March of this year. In April 2008, I tried to negotiate a forebearance of my loan because I had gotten behind on my loan due to my unemployment status. My payment had went from $1339 to $2204 because they had factored in the ARM and back property taxes. I couldnt afford to pay the loan and started researching my payment options. I tried to do loan mortgage modification through a copy called Kirkland Young LLC but found out they were a fraud. They stole $299 from me….so I turned around and submitted all of my documentation to HSBC for a loan modification request. It has been over a week, and I havent heard anything yet from HSBC. Ive faxed the documentation in twice and mailed documentation in via priority mail. I definitely need help resolving this loan modification ASAP. THE KICKER IS I have a renter in my house, so I need to get this squared away before something happens to them.

By: dh

dh — Sat, 14 Jun 2008 01:08:00 +0000

I am 6 months behind no job, but my husband is not title and could refi in his name to save house even at 80 % ltv, but no one will refi or do purchase because arms length what can I do.

By: GATORBAIT

GATORBAIT — Fri, 13 Jun 2008 05:15:25 +0000

yes…the issue is you are requesting a letter stating “deferment’ of “deferred”.

Depending on who the loan is with they will typically send you something indicating when the first payment is due on the student loan.

Look through the documents you already have and see if you find anything that will show the first payment due date or that no payment is due while the student is in attending school.

Also ask the mortgage company what is stated on your credit report for the student loan. It may be listed as e.g. 250 x 0

so here is your check list-

3- ask mortgage company what is the status for that loan on the credit report.

4-Sending these items together with an explanation letter that the lender explained to you that the status “in school” means no payment is due.

this should clear this issue up for you.

Good luck and let me know how it turns out.