Comments on: Lenders sued for rushing through foreclosure process http://loanworkout.org/2008/01/lenders-sued-for-rushing-through-foreclosure-process/ Loan Modification & Home Loan News Sun, 21 Mar 2010 16:56:28 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: K http://loanworkout.org/2008/01/lenders-sued-for-rushing-through-foreclosure-process/#comment-4214 K Thu, 21 Feb 2008 20:10:25 +0000 http://loanworkout.org/2008/01/25/lenders-sued-for-rushing-through-foreclosure-process/#comment-4214 I do have a few questions or if someone can help or give me any further ideas for I\'e2\'80\'99m at my wits end. 1- My loan adjusted in Sept 2007 I started in June by approaching my lenders to have my loan adjusted/renegotiated and was told no. 2-I started to try and re-fi but everytime I do there\'e2\'80\'99s a roadblock. First it was my income/debt ratio was too high, then credit score wasn\'e2\'80\'99t good enough, now it\'e2\'80\'99s my appraisal-my home has decreased $25,000 in value in 4 months. 3- I\'e2\'80\'99m on my 8th attempt at a re-fi and am attempting to talk to both lenders (I have an 80/20 interest only ARM) to have them shave $6,000 (what the different is between what I owe on the house and the what it\'e2\'80\'99s worth) and neither is willing to budge. I can\'e2\'80\'99t even get a hold of one of them any more. My loan is set to adjust again in March and the only other resolve I can see is to try and refi but take out a small loan for the $6,000\'e2\'80\'a6 I am working 3 jobs, have a roommate and have switched jobs in an attempt to make more money to cover this but can't as of March... Anyone have any other ideas on how to avoid foreclosing on my home????? I do have a few questions or if someone can help or give me any further ideas for I\’e2\’80\’99m at my wits end.
1- My loan adjusted in Sept 2007 I started in June by approaching my lenders to have my loan adjusted/renegotiated and was told no.
2-I started to try and re-fi but everytime I do there\’e2\’80\’99s a roadblock. First it was my income/debt ratio was too high, then credit score wasn\’e2\’80\’99t good enough, now it\’e2\’80\’99s my appraisal-my home has decreased $25,000 in value in 4 months.
3- I\’e2\’80\’99m on my 8th attempt at a re-fi and am attempting to talk to both lenders (I have an 80/20 interest only ARM) to have them shave $6,000 (what the different is between what I owe on the house and the what it\’e2\’80\’99s worth) and neither is willing to budge. I can\’e2\’80\’99t even get a hold of one of them any more. My loan is set to adjust again in March and the only other resolve I can see is to try and refi but take out a small loan for the $6,000\’e2\’80\’a6
I am working 3 jobs, have a roommate and have switched jobs in an attempt to make more money to cover this but can’t as of March…
Anyone have any other ideas on how to avoid foreclosing on my home?????

]]> By: JacMac http://loanworkout.org/2008/01/lenders-sued-for-rushing-through-foreclosure-process/#comment-4213 JacMac Fri, 01 Feb 2008 14:16:07 +0000 http://loanworkout.org/2008/01/25/lenders-sued-for-rushing-through-foreclosure-process/#comment-4213 Virginia, you should log onto the forum (the link is above) there is lots of information there and people who are going through the same situation you are. You are bound to find help there. Virginia, you should log onto the forum (the link is above) there is lots of information there and people who are going through the same situation you are. You are bound to find help there.

]]> By: Virginia Piery and Sergio Piery II http://loanworkout.org/2008/01/lenders-sued-for-rushing-through-foreclosure-process/#comment-4212 Virginia Piery and Sergio Piery II Fri, 01 Feb 2008 02:23:36 +0000 http://loanworkout.org/2008/01/25/lenders-sued-for-rushing-through-foreclosure-process/#comment-4212 We acquired our mortgage in Aug. 2007 and my husband is a stage technician. I am 65 and on Social Security. Since the Writers' strike, my husband has had very little work and our January Mortgage Payment has not been paid. Today is the last day to get it in but we don't have it. I called our Mortgage company and they said that we are not eligible for the Hope program because we only had our mortgage for five mos. I can't remember but I think she said it should be around 3 years old. We are going through such hardship especially since I have been a caretaker for my son who has had 2 back surgeries and is still recovering. He has become increasingly upset and nervous because of our situation and this hasn't helped his condition any. Please, is there any way you can help us to defer our payment? We really need help, and thank you kindly for allowing us this opportunity to voice our problem. We acquired our mortgage in Aug. 2007 and my husband is a stage technician. I am 65 and on Social Security. Since the Writers’ strike, my husband has had very little work and our January Mortgage Payment has not been paid. Today is the last day to get it in but we don’t have it. I called our Mortgage company and they said that we are not eligible for the Hope program because we only had our mortgage for five mos.
I can’t remember but I think she said it should be around 3 years old.
We are going through such hardship especially since I have been a caretaker for my son who has had 2 back surgeries and is still recovering. He has become increasingly upset and nervous because of our situation and this hasn’t helped his condition any.

Please, is there any way you can help us to defer our payment? We really need help, and thank you kindly for allowing us this opportunity to voice our problem.

]]> By: Stephen http://loanworkout.org/2008/01/lenders-sued-for-rushing-through-foreclosure-process/#comment-10029 Stephen Sat, 26 Jan 2008 20:48:56 +0000 http://loanworkout.org/2008/01/25/lenders-sued-for-rushing-through-foreclosure-process/#comment-10029 They're rushing them through because they don't own them any more. They're double-selling them. It's pure profit. They’re rushing them through because they don’t own them any more. They’re double-selling them. It’s pure profit.

]]>