Posted on: 10th Feb, 2009 03:15 pm
I have been a customer of HFC for the last 4 years. My mortgage payment is $2647.39 which does not include taxes and insurance. Our interest rate is currently 9.65% and we have applied for a hardship and they denied us three times. It is very frustrating. Our credit is in the 700's at this point. It is getting to the point where we may have to walk away because the house is in the negative. How will this affect our scores? Do you have any alternatives to walking away?
have you tried to reach there loss mitigation dept? and you have been denied 3 times already? have you asked them for a short sale on the house, rather then walking away. if you walk away it will go into forclosure and will be posted on your credit for 7 years if im not mistaken.
Yes, your credit will be negatively impacted. Call them back and ask for an interest rate modification.
