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I lost my job and they're going to foreclose

January 24, 2007

Arizona foreclosure

This is actual comment from a client:

"I have recently lost my job and going through a seperation I dont want to loose my home while Im looking for a new job if possible if not I will sell if I have to to avoid foreclosure."

A job losses a serious issue in the mortgage company needs to be aware of this. Sometimes we can arrange a forbearance for you where they lower the mortgage payment for a period of time to allow you to get caught up. This varies between mortgage companies and can't be guaranteed. What we can do is buy you some time and the foreclosure and allow you to your finances back in order.

Posted By Darin at 11:35 AM
Comments (3) | Categories: EMC, Arizona Foreclosure | Tags: arizona emc

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Comments

though banks or especially sub-prime lenders like EMC Mortgage Corporation don't care if you lost your job or have one ... what they care most is your ability to pay your loan every 30 days..... you always want to keep most of the risk to the banks and less for yourself by keeping your mortgage owed as high as possible so that they will take longer and longer to foreclose your home.... so lastly keep less Equity inside your home and more cash outside your home so that banks and their investors bear more risks.... help others and become independent yourself will help you... Don't let emotions or personal things get in you... take care Hernandez Family

Posted By Hernandez Family on November 29, 2007 at 05:14 PM

Hello - I have a mortgage with EMC (not by choice - my original lender sold my loan 2 times.) I have a very high mortgage payment ($2000) and they started an escrow account without telling me and that raises my payment to $2999 a month, which I can't afford. When I bought the house, the previous owner left 4000 in taxes for me to pay. I made arrangement with the County to pay at 80 a month for 5 years. EMC went and paid the taxes, nullifying my agreement with the County Now EMC expects me to be able to afford $3000 a month, when I was struggling to pay $2. I have fallen behind 2 months. When does EMC generally begin foreclosure? Thank you.

Posted By Norma on December 03, 2007 at 06:01 PM

EMC DID THE SAME THING TO ME!
I WORKED OUT A LOAN MODIFICATION WITH THEM IN WHICH THEY PROMISED THAT AT THE END OF THE TERM, THE PAYMENTS WOULD BE LOWER. THEY WERE ACTUALLY HIGHER BY $500 PER MONTH!!! WHY AREN'T THEY BEING INVESTIGATED????

Posted By LORRAINE on November 05, 2008 at 12:12 PM

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I lost my job and they're going to foreclose

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