In the Forums

Register

Today's Posts

Search


Get the Weekly
Inkling
newsletter





Previous Issues

Get Social

Like Splitcoaststampers on Facebook Follow Splitcoaststampers on Twitter Watch Splitcoaststampers Videos on YouTube

Sponsored Ads


 
Splitcoaststampers.com - the world's #1 papercrafting community
You're currently viewing Splitcoaststampers as a GUEST. We pride ourselves on being great hosts, but guests have limited access to some of our incredible artwork, our lively forums and other super cool features of the site! You can join our incredible papercrafting community at NO COST. So what are you waiting for?

Join the party at Splitcoaststampers today!

Reply
 
LinkBack Thread Tools Display Modes
Old 07-24-2014, 06:22 AM   #1
Crimping Master
 
duranfan's Avatar
 
Join Date: Mar 2006
Location: way down yonder in the "paw-paw" patch
Posts: 1,187
Default Mortgage modifications

Has anyone here had experience with mortgage modifications? We are way behind on our mortgage, and I have been out of work this summer. We have been trying to get a modification for months. After screwing around with us all this time, they have denied it. Apparently because we've gotten one before. They could have told us this MONTHS ago. In order to do the repayment plan they propose, we have to make a downpayment that simply isn't possible. Anyone have any ideas? I really, really don't want to have to declare bankruptcy over this! Just yesterday I fixed a big part of our financial issues, and now this (As of Monday, I'm a salaried employee with a consistent, year round paycheck, instead of an independent contractor on an hourly basis).
duranfan is offline  
Tweet this Post! Share on Facebook Reddit!! Pin on Pinterest! Share on Google+!
Reply With Quote
Old 07-24-2014, 08:45 AM   #2
Kookie Creator
 
Join Date: Jan 2011
Location: Birdsboro near Reading, PA
Posts: 391
Default

I'm assuming you are in the US? I dealt with the mortgage company from hell whose mistakes almost destroyed my credit and ended up refinancing. I am so happy with the mortgage company I'm dealing with now that I'm happy to refer them. I can get you the name of the investment company that handled the transfer and contact if you think re-financing will help your situation.
__________________
Leeann in SE PA
My Blog - "Paper Doll's Creations"
Leeann34 is offline  
Tweet this Post! Share on Facebook Reddit!! Pin on Pinterest! Share on Google+!
Reply With Quote
Old 07-26-2014, 05:38 AM   #3
Crimping Master
 
duranfan's Avatar
 
Join Date: Mar 2006
Location: way down yonder in the "paw-paw" patch
Posts: 1,187
Default

I appreciate your response. I am I the US. Unfortunately, we are so far behind that our credit has tanked. Refi is not even an option. The mortgage company didn't want a payment while th modification was being worked out, so now were so far behind I don't know what alternatives we have other than bankruptcy. I've been out of work this summer and haven't gotten a paycheck for 3 months. The amount they want as a downpayment on a repayment plan is not even remotely possible.
duranfan is offline  
Tweet this Post! Share on Facebook Reddit!! Pin on Pinterest! Share on Google+!
Reply With Quote
Old 07-28-2014, 10:54 PM   #4
Rubber Obsessor
 
Join Date: Apr 2013
Location: Lakewood (denver suburb), Colorado
Posts: 197
Default

I have some family members that were very successful with a modification. They ended up losing the house, but I would do lots of research and check out who will be doing it. I'm sorry you're going through this. I've seen first hand what this is like.

Good luck and prayers your way that it all works out.
Denverkat276 is offline  
Tweet this Post! Share on Facebook Reddit!! Pin on Pinterest! Share on Google+!
Reply With Quote
Old 07-29-2014, 08:57 AM   #5
Pearl-ExPert
 
mrussom's Avatar
 
Join Date: Jan 2005
Posts: 2,381
Default

HUD (Housing and Urban Development) has counselors in every area of the US and this is what they do - they can talk to you and see if there is a program that you could get help through. If you go to their website you should be able to find your area and the counselor to call. I don't know if there is a program for you or if your lender is being unrealistic, but they should be able to help figure that out for you. Good luck. And you might want to talk to an attorney too about a bankruptcy - A chapter 13 could work which is a reorganization bankruptcy - you pay your debts but some are reduced and you are on a payment plan. That type of bankruptcy can sometimes help when people are behind on mortgages. Whether that will work for you will depend on your income and debt load and monthly necessities. Some bankruptcy attorneys will look this over for you for free to see if it will help.

good luck to you! Being behind in a mortgage can be so stressful.
__________________
~~ MARY ~~

MY GALLERY
mrussom is offline  
Tweet this Post! Share on Facebook Reddit!! Pin on Pinterest! Share on Google+!
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off