Loan Modification | Foreclosure Prevention

TWN asked:


I have lived in my house almost 12 years, have never been late on my payment until last month. I am a single mom with 3 kids one of which had a major stroke last summer leaving him with some paralysis, so keeping a rambler style house is to our benefit . Every one says contract your mortgage lender before you fall behind, which i did in december and eventhough I have been a good customer for 11 years they said that they can not help me with my adjustable rate mortgage. I cant hold on much longer and I dont know if there is anywhere else to look for help?

drlewis00 asked:


I am a lender that has money to help those in foreclosure but I can not get them to respond to my letter. What can I do to get them to response?

Is there any special wording or language that you could suggest to get them to call?

P.S.
I’m not trying to give them a high interest loan or adjustable rate mortgage/ARM.

drlewis00 asked:


I’m a lender that has money to help those in foreclosure but I can’t them to respond to my letter. What can do to get them to response? Any special wording or language that you would suggest to get them to call?

P.S. I’m not trying to giving them a high interest loan or adjustable rate mortgage/ARM.

Alisan asked:


We have an adjustable rate mortgage serviced by Ocwen it is set to adjust this coming march but has a 4000$ prepay penalty attached to it if the loan is refied or sold before that time we talked to a mortgage specialist a while ago and he said you can get that removed. i contacted Ocwen about it and they said they are obligated service the loan and its terms and no we can not waive the prepay so you can refi the house. My question is does anyone have experience with this and know that it can be done and how do I work them to do it? thanks

C-ROD asked:


I have a 30 yr adjustable rate mortgage with the first 3 yr fixed rate of 6.8%, I have 1 yr since I refinanced. Is it a good time to refinance now that the rates dropped so much? Can I refinance even if I dont have any equity on the house?

What I want to do is lower my rate & my monthly payment, not get any money out it.

Please advice, I dont want to find myself in a place where I’m about to lose my house. BTW I live in NJ.

chkibo2000 asked:


Did the government force you to rack up credit card debt? Did the government force you to take an adjustable rate mortgage? Does the government control gas prices? Did the government force you to spend money on useless crap?
I am simple minded yet very intelligent at the same time. I am quite the paradox.