Zillow Advice RSS: Question-Discussion-Guide,Loan Modifications,MI http://www.zillow.com/advice/MI/mortgage-loan-modifications/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Interest rate hike. http://www.zillow.com/advice-thread/Interest-rate-hike/525496/ My wife and I was approved for an Ocwen loan modification. Everything went smooth for the first six months. We were informed after the seventh month that the interest rate on the modification will more than double which puts us back to the pre-modification status. They are horrible to communicate with and has used stall tactic after stall tactic, is this legal and do I have any recourse?<br \><br \>4 replies Wed, 22 Jan 2014 22:52:00 GMT http://www.zillow.com/advice-thread/Interest-rate-hike/525496/ 2014-01-22T22:52:00Z Why is my payment increased when looking for loan modification and iunterest reduction? http://www.zillow.com/advice-thread/Why-is-my-payment-increased-when-looking-for-loan-modification-and-iunterest-reduction/514277/ Why has my payment increased when looking for loan modification and interest reduction<br \><br \>3 replies Sat, 05 Oct 2013 20:52:00 GMT http://www.zillow.com/advice-thread/Why-is-my-payment-increased-when-looking-for-loan-modification-and-iunterest-reduction/514277/ 2013-10-05T20:52:00Z Any way to refinance when credit is very poor and I'm in foreclosure? http://www.zillow.com/advice-thread/Any-way-to-refinance-when-credit-is-very-poor-and-I%27m-in-foreclosure/511546/ I only owe $32k to the bank, but they've foreclosed and house is worth a bit more than that.&nbsp; Any companies out there that will refinance it?&nbsp; Are there any LEGITIMATE companies that will purchase it and sell back to me?&nbsp;&nbsp; I'm employed, work hard, just got really backed up when my husband was ill (he has since passed away).&nbsp; Any advice is greatly appreciated?&nbsp; I'm only 6 weeks away from eviction. :-(<br \><br \>2 replies Mon, 16 Sep 2013 15:33:00 GMT http://www.zillow.com/advice-thread/Any-way-to-refinance-when-credit-is-very-poor-and-I%27m-in-foreclosure/511546/ 2013-09-16T15:33:00Z What are reasonable closing costs? http://www.zillow.com/advice-thread/What-are-reasonable-closing-costs/504247/ I am doing a harp refinance on my $302,000 mortgage and would like to know what standard closing costs on such a refinance would be.<br \><br \>4 replies Tue, 30 Jul 2013 01:55:00 GMT http://www.zillow.com/advice-thread/What-are-reasonable-closing-costs/504247/ 2013-07-30T01:55:00Z Short sale or walk away? http://www.zillow.com/advice-thread/Short-sale-or-walk-away/319415/ After trying for 6 months on my remod I have been told by gmac I do not qualify for the loan. First I made to much money now I dont make enuff. And they suggest a short sale. I have tried a home remod rep. They took my money and have been dis barred from law. (my luck) Now what do I do?? Any Help<br \><br \>6 replies Thu, 28 Jan 2010 16:27:00 GMT http://www.zillow.com/advice-thread/Short-sale-or-walk-away/319415/ 2010-01-28T16:27:00Z 10 rentals in MI with Chase (NOT Fannie or Freddie) keep denying. Needs Options? http://www.zillow.com/advice-thread/10-rentals-in-MI-with-Chase-NOT-Fannie-or-Freddie-keep-denying-Needs-Options/474330/ We have 10 underwater rentals in Pontiac, Michigan.&nbsp; Chase has continued to deny us modifications, stating rentals don't qualify.&nbsp; Spouse laid-off.&nbsp; Taxes are behind.&nbsp; We are current on our "interest only" loans.&nbsp; Cash flow has been positive for 3 months now.&nbsp; 7 of 10 rented.&nbsp; Credit score was in 700's in 2006 when we last refinance.&nbsp; Now our score is 630's.&nbsp; Never 31 days late.&nbsp; Been working with Chase locally since July and keep getting denied one rental at a time.&nbsp; <br/><br/>What would be our best options to keep the rentals?<br \><br \>4 replies Mon, 14 Jan 2013 18:08:00 GMT http://www.zillow.com/advice-thread/10-rentals-in-MI-with-Chase-NOT-Fannie-or-Freddie-keep-denying-Needs-Options/474330/ 2013-01-14T18:08:00Z Am I entitled to a loan modification if my name isn`t on the mortgage but it is on the deed? http://www.zillow.com/advice-thread/Am-I-entitled-to-a-loan-modification-if-my-name-isn-t-on-the-mortgage-but-it-is-on-the-deed/425253/ Only my husband`s name is on the <a href="http://www.zillow.com/mortgage-rates/">mortgage</a>, but my name is on the deed. Is it possible for me to get a <a href="http://www.zillow.com/mortgage-rates/">loan</a> modification?<br \><br \>4 replies Fri, 09 Dec 2011 01:04:00 GMT http://www.zillow.com/advice-thread/Am-I-entitled-to-a-loan-modification-if-my-name-isn-t-on-the-mortgage-but-it-is-on-the-deed/425253/ 2011-12-09T01:04:00Z In Lapeer, MI. Who can I take my SC's modification offer to for professional review and opinion? http://www.zillow.com/advice-thread/In-Lapeer-MI-Who-can-I-take-my-SC%27s-modification-offer-to-for-professional-review-and-opinion/418465/ American Home Mortgage Servicing (Jacksonville, FL) offered me a freeze step mod with - what appears to me - great term. &nbsp;I would like a professional to look at my original loan paperwork and confirm that this would be a good move.&nbsp;<br \><br \>1 reply Fri, 07 Oct 2011 20:50:00 GMT http://www.zillow.com/advice-thread/In-Lapeer-MI-Who-can-I-take-my-SC%27s-modification-offer-to-for-professional-review-and-opinion/418465/ 2011-10-07T20:50:00Z Are there any options for refi or modification with fallen home value and no equity as a result? http://www.zillow.com/advice-thread/Are-there-any-options-for-refi-or-modification-with-fallen-home-value-and-no-equity-as-a-result/412948/ <div class="comment-body rich-content clearfix"><p class="MsoNormal">Here's our story...<br/><br/>Michigan home purchased in 2006</p><p class="MsoNormal">Appraised value&nbsp;(2006) $230K</p><p class="MsoNormal">Purchase prince (2006) $215K</p><p class="MsoNormal">30 Year Fixed Loan @ 7.25% (Fannie Mae backed/serviced by WFHM)</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Our home value has decreased in excess of 33% since 2006 due to the market and unemployment conditions in Michigan. We survived unemployment in the past without defaulting, but we continue to see our monthly contributions do very little against an interest rate that's double the current rate on a loan that will never be recovered. We owe $207K on principal and barely make a dent each month with so much $ going to interest.</p></div><br \><br \>2 replies Wed, 24 Aug 2011 14:54:00 GMT http://www.zillow.com/advice-thread/Are-there-any-options-for-refi-or-modification-with-fallen-home-value-and-no-equity-as-a-result/412948/ 2011-08-24T14:54:00Z Are there any options for borrowers with serious fallen home value who have no equity as a resul? http://www.zillow.com/advice-thread/Are-there-any-options-for-borrowers-with-serious-fallen-home-value-who-have-no-equity-as-a-resul/412943/ <p class="MsoNormal">Here's our story...<br/><br/>Michigan home purchased in 2006</p><p class="MsoNormal">Appraised value&nbsp;(2006) $230K</p><p class="MsoNormal">Purchase prince (2006) $215K</p><p class="MsoNormal">30 Year Fixed Loan @ 7.25% (Fannie Mae backed/serviced by WFHM)</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Our home value has decreased in excess of 33% since 2006 due to the market and unemployment conditions in Michigan. We survived unemployment in the past without defaulting, but we continue to see our monthly contributions do very little against an interest rate that's double the current rate on a loan that will never be recovered. We owe $207K on principal and barely make a dent each month with so much $ going to interest.</p><br \><br \>7 replies Wed, 24 Aug 2011 14:31:00 GMT http://www.zillow.com/advice-thread/Are-there-any-options-for-borrowers-with-serious-fallen-home-value-who-have-no-equity-as-a-resul/412943/ 2011-08-24T14:31:00Z does Michigan allow strategic foreclosures without bankruptcy? http://www.zillow.com/advice-thread/does-Michigan-allow-strategic-foreclosures-without-bankruptcy/389837/ 1 reply Tue, 08 Mar 2011 20:45:00 GMT http://www.zillow.com/advice-thread/does-Michigan-allow-strategic-foreclosures-without-bankruptcy/389837/ 2011-03-08T20:45:00Z what happens after the 5yrs. of being on the hamp program to your interest rate and house payment, http://www.zillow.com/advice-thread/what-happens-after-the-5yrs-of-being-on-the-hamp-program-to-your-interest-rate-and-house-payment/378770/ &nbsp;does your interest rate stay the same or change or the monthly payment change. i heard there is a balloon payment at the end is this true. can u get a modified loan if your 2 months behind on payments. thank you<br \><br \>2 replies Tue, 28 Dec 2010 15:14:00 GMT http://www.zillow.com/advice-thread/what-happens-after-the-5yrs-of-being-on-the-hamp-program-to-your-interest-rate-and-house-payment/378770/ 2010-12-28T15:14:00Z what happens to me a co-signer on a default mort. loan http://www.zillow.com/advice-thread/what-happens-to-me-a-co-signer-on-a-default-mort-loan/378771/ I co-sign a loan now the other person cant pay and neither can I. can they take my house or my savings<br \><br \>2 replies Tue, 28 Dec 2010 15:22:00 GMT http://www.zillow.com/advice-thread/what-happens-to-me-a-co-signer-on-a-default-mort-loan/378771/ 2010-12-28T15:22:00Z How accurate is a "Zestimate?" http://www.zillow.com/advice-thread/How-accurate-is-a-Zestimate/360415/ I've heard through word of mouth that a Zestimate isn't very accurate. Can anyone clarify?<br \><br \>7 replies Mon, 02 Aug 2010 02:21:00 GMT http://www.zillow.com/advice-thread/How-accurate-is-a-Zestimate/360415/ 2010-08-02T02:21:00Z Decision on mortgage loan http://www.zillow.com/advice-thread/Decision-on-mortgage-loan/339158/ I have a 5-yr interest only loan that adjusts June 1, 2010.&nbsp; I applied for a loan modification and did not qualify for hardship, but was told that my file would be considered for other options.&nbsp; In the meantime, I received a letter from the mortgage company&nbsp;indicating an increase in my mortgage payment&nbsp;by $85 until the year 2011 and then the&nbsp;rate will adjust again.&nbsp; Right now, I&nbsp;&nbsp;am able to pay the new amount without hardship, but I am concerned about the years to come and the adjustments.&nbsp; Does anyone have any advise on how I should handle this?&nbsp; Should I be pursuing getting a fixed rate or an extension on the loan that I currently have for the next 5 years?&nbsp;My plan was to refinance after the 5 years and get a fixed rate, but of course my home&nbsp;is underwater.<br \><br \>8 replies Tue, 30 Mar 2010 15:03:00 GMT http://www.zillow.com/advice-thread/Decision-on-mortgage-loan/339158/ 2010-03-30T15:03:00Z Upside down mortgage bill for upside down homes http://www.zillow.com/advice-thread/Upside-down-mortgage-bill-for-upside-down-homes/351377/ I had heard a clip on news about mortgage companies having to give breaks to those who are upside down on their house mortgage.&nbsp; There were stipulations like having to be current on your loan for at the least three yrs.&nbsp; At which point they had to give you a loan at the current price of your home not at the purchase price.&nbsp; Every time I ask a loan specialist they say they have no clue what I'm talking about please help.<br \><br \>6 replies Tue, 25 May 2010 02:38:00 GMT http://www.zillow.com/advice-thread/Upside-down-mortgage-bill-for-upside-down-homes/351377/ 2010-05-25T02:38:00Z The spec's of my home changed on this web site - it's incorrect - were did the change come from? http://www.zillow.com/advice-thread/The-spec%27s-of-my-home-changed-on-this-web-site-it%27s-incorrect-were-did-the-change-come-from/350833/ I'm going through a home loan modification with Chase.&nbsp; They ordered an independant apprasial.&nbsp; I haven't heard from Chase yet, but on your profile the details of my house have changed to match my neighbors home.&nbsp; I'm afraid the company that did the "drive buy" appraisal but together the wrong information and now this new "public" info will be used to value the property.&nbsp; Most importantly I don't have a garage of a fireplace.&nbsp; This modification is based on market value.&nbsp; This could be a big hit.&nbsp; How do I fix this quickly?<br \><br \>4 replies Fri, 21 May 2010 13:37:00 GMT http://www.zillow.com/advice-thread/The-spec%27s-of-my-home-changed-on-this-web-site-it%27s-incorrect-were-did-the-change-come-from/350833/ 2010-05-21T13:37:00Z how can I find the value of my home? http://www.zillow.com/advice-thread/how-can-I-find-the-value-of-my-home/338018/ 1 reply Fri, 26 Mar 2010 21:06:00 GMT http://www.zillow.com/advice-thread/how-can-I-find-the-value-of-my-home/338018/ 2010-03-26T21:06:00Z my house payment has gone uo from 800.00 a month to 1900.00 a month cannot afford this ,what to do? http://www.zillow.com/advice-thread/my-house-payment-has-gone-uo-from-800-00-a-month-to-1900-00-a-month-cannot-afford-this-what-to-do/330401/ should i let it get foreclosed on and save up money, houses on my block are going for 20.000 to 30,000 how do i get my <a href="http://www.zillow.com/mortgage/">mortgage</a> payment lowered? they wont work with you until you are very behind?<br \><br \>11 replies Wed, 03 Mar 2010 18:22:00 GMT http://www.zillow.com/advice-thread/my-house-payment-has-gone-uo-from-800-00-a-month-to-1900-00-a-month-cannot-afford-this-what-to-do/330401/ 2010-03-03T18:22:00Z How much does this cost? http://www.zillow.com/advice-thread/How-much-does-this-cost/314843/ To have a <a href="http://www.zillow.com/mortgage/">mortgage</a> laon modification&nbsp;through Obama<br \><br \>4 replies Thu, 14 Jan 2010 18:55:00 GMT http://www.zillow.com/advice-thread/How-much-does-this-cost/314843/ 2010-01-14T18:55:00Z