Posted on: 29th Feb, 2008 11:32 am
I have an account with countrywide and i told them my situation that my husband got laid off from his job last year in oct and i got laid off last month so my husband told the bank that if they could freeze the intrest rate because we have the conventional rate,but when i called them today this morning they told me that my petition was denid what should i do.
hi ladyblackmartinez,
have you missed any payment yet? is that is the case, then you won't qualify for a rate freeze as there are certain eligibility criteria involved.
now, did the lender suggest any other option such as an alternative repayment plan? selling the home is another option but then you will lose your home. and, since you have been laid off from jobs, it will not be possible for you to arrange for a rented place so easily.
you can give a thought to filing chapter 13 bankruptcy and repay a certain percentage of the debt thereby saving your credit from getting tarnished to a large extent. just check out the page referred by larry. you'll find a lot of options shared over there.
regards,
jessica
have you missed any payment yet? is that is the case, then you won't qualify for a rate freeze as there are certain eligibility criteria involved.
now, did the lender suggest any other option such as an alternative repayment plan? selling the home is another option but then you will lose your home. and, since you have been laid off from jobs, it will not be possible for you to arrange for a rented place so easily.
you can give a thought to filing chapter 13 bankruptcy and repay a certain percentage of the debt thereby saving your credit from getting tarnished to a large extent. just check out the page referred by larry. you'll find a lot of options shared over there.
regards,
jessica
