Hi There I live in Southern Cali. and I have a question on a 2nd that was c
Hi There I live in Southern Cali. and I have a question on a 2nd that was c
Hi There I live in Southern Cali. and I have a question on a 2nd that was charged off in 2013 for the amount of 149k, our first is 359k and we recently modified that the beginning of this year. Homes in our neighborhood have been going up and now we have equity but our credit is not good we needed to file bankruptcy in 2011. Now the 2nd is contacting us and said they will start foreclosure. My home on Zillow says now it's 520k. Any advise of what our options are we want to keep our home yes we can sell it but then what where can we go and pay the same amount that we are paying now. In desperate need of advice.
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The options to protect your home from foreclosure are many - reinstatement, forbearance, repayment plan, loan modification, partial claim, assumption, deed-in-lieu foreclosure, etc. But, to find out the most appropriate bail out strategy in your case would need a proper consultation with local licensed attorney and a detailed study of your loan agreement.
So, its best you get in touch with one such legal expert and draw up a rescue plan to save your home from foreclosure accordingly.
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If you included the second in the BK they shouldnt have any recourse if you forgot about them you may be in trouble - (at least still on the hook for the money) I agree with Caron you need to seek out legal advise from your attorney - (I would ask your BK atty)
Good Luck
Brian Barnes
Nationwide Mortgages
Brian@AimWithFocus.com