Posted on: 09th Feb, 2010 09:26 am
So my house is upside down by 180,000. We have been looking through our loan docs and noticed that there is an occupation listed for me that i have never worked nor heard of. I have heard they shady brokers would do this to push loans through. What should i do?? will this help my case for modification or cutting my principle?
Hi Patrick,
You should first contact your lender and try to clarify the whole issue. If the lender is not ready to help you in this regard, you can consult an attorney and take his opinion in this regard.
Thanks
You should first contact your lender and try to clarify the whole issue. If the lender is not ready to help you in this regard, you can consult an attorney and take his opinion in this regard.
Thanks
thanks for your help
I am trying to hold of on an attorney as they are expensive and I am not 100% sure I need one yet. I feel so freaking stuck i don't even know what to do
I am trying to hold of on an attorney as they are expensive and I am not 100% sure I need one yet. I feel so freaking stuck i don't even know what to do
Sounds like you have a real good case for modification. Have you worked with anyone?
no i haven't work with anyone
i have been in default for 7-8 months now and the second just sold off my debt to a collector and Bank of America hasn't contacted me yet. I am so lost and don't know what to do or where to start.
i have been in default for 7-8 months now and the second just sold off my debt to a collector and Bank of America hasn't contacted me yet. I am so lost and don't know what to do or where to start.
You basically have two options. Wait until the foreclosure process is started, or if you really want to see if you can make a workable deal with them, invest in a loan modification process. You need to know they are not 100% effective, but there is a 90+% chance you can work out something to either remain in the home, or sell short with minimal effect on your credit. I costs about 1500.00 no matter where you go.
[Email address deleted as per forum rules. Thanks.]
[Email address deleted as per forum rules. Thanks.]