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Answers (3)
Best Answer
- Larry Jacobson, "Clearpoint"
- Contributions:1214
This is just an opinion, but I would not let your home drag you down. It's just a home and in the end there are much more important things in life like your health, mental or physical.
What are homes renting for in your area? Would they be more affordable than your current mortgage? Would you breathe easier, sleep better, and be happier if you were not strapped by a mortgage? These are all questions I would ask myself if in your position.
What are homes renting for in your area? Would they be more affordable than your current mortgage? Would you breathe easier, sleep better, and be happier if you were not strapped by a mortgage? These are all questions I would ask myself if in your position.
In my opinion, you have a lot of nerve complaining about 3 modifications, most are begging for an opportunity to get one. You are not entitled to a lower interest rate or payment, you are entitled to pay what you contractually agreed to pay. If after 3 modifications you still cannot afford your home, then you bought too much home.
This statement actually irritates me:
"I would love to just give the home back and break free in clear and start over."
Well guess what, I would love to have not doubled down in Vegas last week on an 11 and drawn a deuce. I begged for another card but the dealer would not give me one!
I know everyone here likes to give PC answers and coddle people like this, but this borrower has obviously not learned anything and will only repeat the same behavior. This era of no consequences has to stop!
</RANT>
This statement actually irritates me:
"I would love to just give the home back and break free in clear and start over."
Well guess what, I would love to have not doubled down in Vegas last week on an 11 and drawn a deuce. I begged for another card but the dealer would not give me one!
I know everyone here likes to give PC answers and coddle people like this, but this borrower has obviously not learned anything and will only repeat the same behavior. This era of no consequences has to stop!
</RANT>
- Pasadenan
- Contributions:21466
It is my opinion that if a borrower cannot afford the payments, the lender "wants" the borrower to default so that the lender can foreclose on the property, as that is the only way the lender can collect on the Mortgage Insurance.
As a "business", they certainly have no intention of giving away something for nothing.
Refinances are not really supposed to be for the benefit of the borrower; they are for the lender, to keep those payments coming in.
It really sounds like a Realtor® talked you in to buying more house than you could afford, and at an unreasonable inflated cost too?
As a "business", they certainly have no intention of giving away something for nothing.
Refinances are not really supposed to be for the benefit of the borrower; they are for the lender, to keep those payments coming in.
It really sounds like a Realtor® talked you in to buying more house than you could afford, and at an unreasonable inflated cost too?
My mortgage has been modified, but stll cannot affort it
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