Posted on: 23rd Nov, 2009 07:12 am
i was just served with foreclosure beginnings from my lender. i am currently 4 months behind. my situation is that i am the borrower who is unemployed however my spouse is employed but is not on the loan docs. is there anything we can do to avoid foreclosure? with his income we would be able to pay if we could refinance & consolidate our expenses.
Welcome to mortgagefit,
Firstly I will suggest you to refinance the loan on your spouse's name so that it will be saved from foreclosure and secondly I will tell you that if you can pay some installments as earliest your lender will be confident that you want to save the property and are willing to pay the debt.
So, initial payments of some installments and immediate transfer of loan will save you from foreclosure.
thanks
keep in touch....
:arrow: :arrow: :arrow:
Firstly I will suggest you to refinance the loan on your spouse's name so that it will be saved from foreclosure and secondly I will tell you that if you can pay some installments as earliest your lender will be confident that you want to save the property and are willing to pay the debt.
So, initial payments of some installments and immediate transfer of loan will save you from foreclosure.
thanks
keep in touch....
:arrow: :arrow: :arrow:
Hi Guest!
Welcome to forums!
As you are delinquent on your mortgage payments right now, you won't be able to refinance the loan. You'll have to bring the loan current and then apply for a refinance.
You can immediately apply for a loan modification and try to stop the foreclosure. However, you should note that it would depend upon the lender's discretion whether or not he would grant your request.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you are delinquent on your mortgage payments right now, you won't be able to refinance the loan. You'll have to bring the loan current and then apply for a refinance.
You can immediately apply for a loan modification and try to stop the foreclosure. However, you should note that it would depend upon the lender's discretion whether or not he would grant your request.
Feel free to ask if you've further queries.
Sussane