Profile picture for RANGIE11

Sorry everybody. I was asking about loan modification, but didn't know how to phrase it. 2 houses

So sorry,  this is the first time I have used this site.  I am an old lady in need decifering the loan modification requirements. My home is worth less than I own on it, since I took out a loan to purchase a home on the coast.  I was planning on selling my home, but not possible now.  With two payments, I am in jeopardy.  Due to illness I had to move to the coast about 6 mos. of the year,  no options about it.
  • April 16 2009 - Shaver Lake
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

Correct. You don't have to be late on your payments. Lenders are helping people now before it comes to that. Check into the site Michael provided. You still have options.
  • April 16 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You seem web savvy since you made it to this website..

Visit http://makinghomeaffordable.gov/index.html to research whether your loan would qualify for the options James mentioned.

P.S. you dont have to be late on your mortgage payments

  • April 16 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The Lender will not talk with you about a loan modification until you are minimum 3 months default on your payments. The Obama administration just passed a bill to help people modify their loans before that happens and there is another program H.A.S.P (Home affordability stability plan) I recomend contacting your current Loan servicer (Lender) and asking if you qualify for the Modificaton or H.A.S.P which allows up to 105% loan to value. Best wishes
  • April 16 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Thank you Rangie :)
  • April 16 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.