Posted on: 13th Jan, 2010 10:26 am
we were denied our mortgage modification by emc due to the fact that the hardship was not permanent. my husband was given a $35,000 reduction in salary and we are no longer earning commissions and our house is upside down. we do not qualify for a refinance we have not been in the home long enough and do not have any equity in the home. we are not first time home buyers either.
i asked emc if they would take a look at it again and they said our only option is a short sale. we tried for the mortgage modification before we had a problem and now we are two months behind. how do we get them to listen before they start foreclosure proceedings.
i asked emc if they would take a look at it again and they said our only option is a short sale. we tried for the mortgage modification before we had a problem and now we are two months behind. how do we get them to listen before they start foreclosure proceedings.
Hi auntandy,
As your are late on your mortgage payments, the lender may start the foreclosure proceedings. I would suggest you to contact your lender and inform him again about your financial situation. Depending upon your present situation, the lender may agree to give you a loan modification. If the lender does not agree to it, then it's better to go for a short sale rather than letting the lender foreclose the property.
As your are late on your mortgage payments, the lender may start the foreclosure proceedings. I would suggest you to contact your lender and inform him again about your financial situation. Depending upon your present situation, the lender may agree to give you a loan modification. If the lender does not agree to it, then it's better to go for a short sale rather than letting the lender foreclose the property.