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Does anyone know of a legit lender who is helping people facing foreclosure?

I am recently divorced and facing foreclosure. I am in search of a lender who can help me. I have the income, but my credit is probably below 600 due to the joint debt my ex has not paid as agreed on. I applied for the Home Affordable Modification thru my mortgagor- Chase- BUT have been declined 3 TIMES due to "documentation deficiencies"??? Sent them ALL needed docs so I don't know what they needed. Now they have sent me a foreclosure letter. Can anyone HELP me???
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July 15 2011 - Norfolk
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You need legal counsel. NOW!

I concur!
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July 15 2011
If it's an FHA mortgage, Obama says you don't have to make payments for a year if you lose your job, so maybe you should see if you can get fired, might be easier than a loan mod. What a shame I missed out on the gravy train. http://www.msnbc.msn.com/ ... _finance/
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July 15 2011
If you have already received a Foreclosure notice your mortgage is delinquent.  No legitimate lender will be able to assist you in refinancing.  The fact that your are delinquent and in foreclosure makes obtaining a refinance through Conv or FHA channels non existent.  Unfortunately Divorce is not considered an extenuating circumstance.

You need legal counsel.  NOW!
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July 15 2011
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Jim, good point about the credit hit.  I don't think soft hits would effect him much but it is something to think about.
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July 15 2011
hi AllieInVA72..
FHA might be able to handle your score, but if you have late payments on the mortgage, you must submit a letter of explanation, and then roll the dice with the underwriter.
Mike makes a good point, however, in your situation, you cannot afford to have more than one lender pull your credit, as each pull with your low beginning score runs the risk of lowering it more. Unfortunately, your situation precludes you from shopping the rate etc.

Documentation deficiencies sounds like a cop out, did they put in writing the docs you need? Are you working with an attorney?
Best wishes, Jim, American Bank
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July 15 2011
Profile picture for Michael Helton
I would call one a few of your local title companies and ask them who the most knowledgeable and experienced lenders in your area are...then interview the top 3.  Do not just settle on one or else you will not be able to compare your rates, terms and conditions.

Any decent lender would be more than happy to answer all your questions and possibly gain your business.

However, if you have already received a foreclosure letter it may be too late.  Talk to a Real Estate Attorney (NOT a Realtor) and find out what your legal options are at this point.

Good luck.
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July 15 2011
 
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