|
Life after loss mitigation/loan mod
| Posted By |
Message |
limommer
LIF Adult
Member since 2/10 1073 total posts
Name:
Meredith
|
Life after loss mitigation/loan mod
We were approved for a loan mod through our bank NOT the govt which in the end got us nowhere now we just owe more money on the back end. When will we be able to refinance after this whole debacle? They barely lowered our interest rate and we are still paying the same mortgage amount! How do they say they help when they do nothing but made us behind on the mortgage! I am very upset over this and wonder if there is light at the end of the tunnel
|
Posted 12/9/10 7:44 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Life after loss mitigation/loan mod
since you were late on the mortgage- you will not be able to refi for some time
sorry- wish I had better news
why didn't you get HAMP? which bank is this?
|
| Posted 12/9/10 4:59 PM |
| |
|
limommer
LIF Adult
Member since 2/10 1073 total posts
Name:
Meredith
|
Re: Life after loss mitigation/loan mod
Posted by Beth
since you were late on the mortgage- you will not be able to refi for some time
sorry- wish I had better news
why didn't you get HAMP? which bank is this?
We weren't approved for the hamp program they approved us in house which is pnc. If it's only my name on the mortgage is there a way to transfer/swindle putting it under my husbands name who had good credit? Can we shop around to another bank any other options or are we screwed like I think we are
|
| Posted 12/9/10 7:36 PM |
| |
|
sometimesmommy
Always in my heart.....
Member since 11/06 6686 total posts
Name:
|
Re: Life after loss mitigation/loan mod
Did you accept the terms--DH did a loan mod and he could choose to accpet the terms or not???
|
| Posted 12/10/10 9:09 AM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Life after loss mitigation/loan mod
Posted by limommer
Posted by Beth
since you were late on the mortgage- you will not be able to refi for some time
sorry- wish I had better news
why didn't you get HAMP? which bank is this?
We weren't approved for the hamp program they approved us in house which is pnc. If it's only my name on the mortgage is there a way to transfer/swindle putting it under my husbands name who had good credit? Can we shop around to another bank any other options or are we screwed like I think we are
having your husband buy the house would techincally be bank fraud
you would have to short sell it to him and the bank now require it to be an "arms lenght trasaction" meaning the 2 parties involved in the transcation do NOT know each other
having the same last night will send up huge red flags and it wont get approved
you can tell them you can't afford the loan mod payment and see if they can relook at it
|
| Posted 12/10/10 11:19 AM |
| |
|
Potentially Related Topics:
Currently 1222850 users on the LIFamilies.com Chat
|
