Posted on: 02nd Mar, 2010 04:36 pm
I was demoted from my job and offered a cut in pay of $10K after I returned to work from Worker's Compensation, since then I have not been able to maintain my mortgage.
I am struggling to make my February and March payments. Can you give me some advice on how I can get some financial help.
Thank you.
I am struggling to make my February and March payments. Can you give me some advice on how I can get some financial help.
Thank you.
okay, let me try posting my response again. i keep deleting it somehow.
first who is your lender?
tell me that bit of info and i might be able to direct you to their home modification program...if they are registered for hamp.
this program is designed for clients in your situation.
you aren't a poor mortgager, just ran into a bit of bad luck.
my strongest advise for people is, communication with your lender is key.
if you don't communicate with them, they won't know you need help.
not all lenders want to foreclose and suffer the loss.
some lenders are more willing to work with their clients that have gone through a severe changed circumstance, so that they can maintain their property.
you can start with the lender by contacting their loss mitigation department. now they are going to use phrases like, any information will be used in order to collect a debt, we are recording you.. yadayada...
don't be afraid to ask for what you want.
the process can be a bit lengthy, and they are going to ask you to send things over, not once, not twice, maybe three or four times, you just have to do it. also, don't wait for them to call you. you follow up with them every week like a bad habit. this will push things along, this will keep you informed.
if at anytime you have a question on something they ask for, something they sent, or even the terms of a modifcation agreement. email me, i will be glad to help you....any of the lenders in the forum will, that is why we are here.
but lets start with you letting me know your lender, and me pointing you in the right direction!
best of luck , until i speak with you again
first who is your lender?
tell me that bit of info and i might be able to direct you to their home modification program...if they are registered for hamp.
this program is designed for clients in your situation.
you aren't a poor mortgager, just ran into a bit of bad luck.
my strongest advise for people is, communication with your lender is key.
if you don't communicate with them, they won't know you need help.
not all lenders want to foreclose and suffer the loss.
some lenders are more willing to work with their clients that have gone through a severe changed circumstance, so that they can maintain their property.
you can start with the lender by contacting their loss mitigation department. now they are going to use phrases like, any information will be used in order to collect a debt, we are recording you.. yadayada...
don't be afraid to ask for what you want.
the process can be a bit lengthy, and they are going to ask you to send things over, not once, not twice, maybe three or four times, you just have to do it. also, don't wait for them to call you. you follow up with them every week like a bad habit. this will push things along, this will keep you informed.
if at anytime you have a question on something they ask for, something they sent, or even the terms of a modifcation agreement. email me, i will be glad to help you....any of the lenders in the forum will, that is why we are here.
but lets start with you letting me know your lender, and me pointing you in the right direction!
best of luck , until i speak with you again
Hello Ms. Little,
My Mortgage is MetLife, they gave me some numbers to call, I called Mortgage Hotling yesterday after sending this email to you.
They told me they would send me out a modification package in the mail and then I was to call them once I got it.
Is this the procedure you were going to advice me on doing?
Please guide me through this, I am truly in the dark with this, I do need help and I don't want to lose my home or mess up my credit.
Thank you for your help.
Ms. Williams
My Mortgage is MetLife, they gave me some numbers to call, I called Mortgage Hotling yesterday after sending this email to you.
They told me they would send me out a modification package in the mail and then I was to call them once I got it.
Is this the procedure you were going to advice me on doing?
Please guide me through this, I am truly in the dark with this, I do need help and I don't want to lose my home or mess up my credit.
Thank you for your help.
Ms. Williams
Hi dianwl,
If your lender modifies your loan, it will help you in saving your property. Depending upon your financial situation, your lender would reduce your interest rate which will in turn reduce your monthly payments. Thus, it would become affordable for you to pay off the loan. Thus, I would suggest you to fill out the documents that has been sent to you by the lender and give them a call. They will let you know whether or not you would get the modification.
Thanks
If your lender modifies your loan, it will help you in saving your property. Depending upon your financial situation, your lender would reduce your interest rate which will in turn reduce your monthly payments. Thus, it would become affordable for you to pay off the loan. Thus, I would suggest you to fill out the documents that has been sent to you by the lender and give them a call. They will let you know whether or not you would get the modification.
Thanks
I have no problem guiding you through it. You can send me private messages through email, or use this thread.
You are on the right track though.
Like I said, sometimes the process can be lengthy, and frustrating, you just have to stick with it thinking the end justifies the means.
Remember though, you need to follow up with them. Even if they say, you don't have to call every week, call anyway to check the status. Modification departments will process the paperwork, but since you are the one requesting the modification, it is in your court to follow up, not theirs. They will not call you to check to see if you sent in something or to tell you something was missing in the packet. This is your responsibility. That is where the frustration comes in.
But it will be worth it in the end.
email me with anything.
You are on the right track though.
Like I said, sometimes the process can be lengthy, and frustrating, you just have to stick with it thinking the end justifies the means.
Remember though, you need to follow up with them. Even if they say, you don't have to call every week, call anyway to check the status. Modification departments will process the paperwork, but since you are the one requesting the modification, it is in your court to follow up, not theirs. They will not call you to check to see if you sent in something or to tell you something was missing in the packet. This is your responsibility. That is where the frustration comes in.
But it will be worth it in the end.
email me with anything.
Thank you both, Ms. Little, I will send you an email with any other questions I may have.
You just don't know how good it is to be able to communicate with you, either through this system or email.
I just got the package, I will look through it, then call Greater Washington Urban League back and get further instructions on how to continue the process.
Thank you both again for your input.
Ms. Williams
You just don't know how good it is to be able to communicate with you, either through this system or email.
I just got the package, I will look through it, then call Greater Washington Urban League back and get further instructions on how to continue the process.
Thank you both again for your input.
Ms. Williams