Foreclosure help?
July 1st, 2010
My sister just received notice her house will be in foreclosure. She has 30 days to react and 90 days to pay. Does anyone have useful information as what she can do? She obviously doesn’t have the money to bring current and has tried to work with the lender but seem as if they don’t care.
She can tell them she is selling and then try to get it sold in 90 days.
Even if she came current this month, what about next? She obviously bought more house then she can afford and needs to get out.
July 1st, 2010 at 1:01 pm
get a loan or sell the house and rent an appartmrent
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July 1st, 2010 at 1:19 pm
She can tell them she is selling and then try to get it sold in 90 days.
Even if she came current this month, what about next? She obviously bought more house then she can afford and needs to get out.
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July 1st, 2010 at 1:34 pm
I know a good loan mitigation specialist. I’m not sure if that would lead to a solution but there is no harm in trying. E-mail me if you would like her contact information.
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July 1st, 2010 at 2:02 pm
Have your sister call her lender and ask for loss litigation tell them she wants to modify the loan.it’s her right not a privilege. Tell your sister to do this now go to NACA.com this agency has billions to assist people like her that have been victims of predatory lenders, and all services are free. Call 1-800-408-1914 FHA has new loans to assist also. I hope this can help. Good Luck
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July 1st, 2010 at 2:26 pm
Informing your lender is the first thing you should do to stop foreclosure, but you are telling it has not worked for her.
Know about ‘Loss Mitigation Process’
‘Loss mitigation Process’ was initiated by the government of America to help people get out of a Foreclosure situation. This clause has many options, like –
Loan modification – Under this, the terms of the loan mortgage could be modified for the ease of homeowner and help him get out of foreclosure.
VA loan modification or refunding – Under this option, homeowner’s loan is bought by the VA (Veterans Affairs).
Short Payoff – this is another option where the lender may chose to buy the property from the borrower so that the latter is able to get out the foreclosure situation.
Deed-in-lieu – in this, those homeowners who need to sell their house in a foreclosure situation (and their property has been on the sale for 90 days), get a repayment plan. This is valid for those who are past due for two or more months in their payments.
You may also need experts advice on this so contact these people for Free consultation on any foreclosure issues
References :
http://www.mortgagebuyerbasics.com/foreclosure-assistance-solutions