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I need help quickly, I can't afford the forbearance plan that I was approved for

March 21, 2007

If you have ever gotten behind on your mortgage it is frightening problem. We hear from a lot of people who are scared and call their Mortgage Company … they are willing to agree to anything to get them to agree to stop the foreclosure. While it is true that you need them to stop the foreclosure, what you agree to in most circumstances will only delay it. Home owners exaggerate their income and leave out expanses to make their financial situation look good. Unfortunately this only makes the Mortgage Company put you into an agreement that you can’t afford.

"They had me under a forbearance plan and I did well up until the full payment at the end, yet they have me on another one, yet I do not know how I can come up with $1800, by the 27th of this month. I do not want to lose my home..."

Even if you are an a repayment plan now and can't afford it we can get you approved for another one. We need some financial documents to prove to the mortgage company what your true financial situation is.

Related Entries

I've got behind on my mortgage need help getting caught up - March 1, 2007
Avoid foreclosure with Wells Fargo - June 9, 2010
They put me on a forbearance plan... then sold my mortgage - March 6, 2007
I am in the middle of a divorce and cannot afford my mortgage payment. - March 7, 2007
Loan Modification with Wells Fargo - May 1, 2010

Comments

I have an fha mortgage and am behind on my mortgage,I have contacted fha but the refuse to issue a partial claim even though there are no other options to save our home from foreclosure.

Posted By monica on March 28, 2007 at 12:58 PM

You need to find out why they are denying the Partial Claim. If you don't meet their requirements would be the only reason they would deny it.
Please contact us if you need any further help.

Posted By Darin on April 03, 2007 at 02:57 PM

I have an FHA mortgage as well and those don't qualify for the hemap loan if that is what you are referring to. It was suggested that I sale my house or do a deed in lieu to stop the foreclosure

Posted By Don on April 21, 2007 at 03:16 PM

I have already had my home foreclosed on by Wells Fargo in March I went to court to postpone the eviction,hoping I could raise the money to buy my home back. I could not find another lender to help me. Now my question is Can you ever get your home back while the mortgage company has it in REO status. Thanks

Posted By VE on July 18, 2007 at 10:50 PM

That is really true. Honesty is the most important thing on an application. Be complete in filling out your expenses.

Posted By Andy on July 24, 2007 at 10:46 AM

I currently have a loan with Fremont and found out today that the loan has been sent to the attorney for foreclosure. I lost my job and was out of work for about a month before taking a job to just have an income and try to keep the mortgage current, however the mortgage still fell behind. I contacted the mortgage company and was trying to work out a repayment plan with them before the mortgage got to the three month stage. I talked to one representative who told me to send in the one plan I had and continue to send my payments until they completed the plan. When I sent the one payment it was returned to me. I called to find out what was going on and then informed that I didn't qualify for one of their plans, when in the very being I was originally told I did. What can I do at this point to keep from losing my home? I'm actively looking for another job that will increase my income.

Posted By stephanie on August 13, 2007 at 08:29 PM

I am currently in foreclosure and my lender is Wellsfargo. I can not do the forebearance plan because it is impossible for me to come up with the large first payment they want in two weeks. Is there anything that can be offered that is possible for me? I want to save my home but I have pretty much gave up all hope.

Posted By Tinka Felix on September 17, 2007 at 11:11 AM

we need help, we are in a repayment plan and our credit is poor, we can't keep up with the mortgage due to rising gas prices and food we have two growing boys who eat alot, now for the summer we have another expense is summercamp so we can work.
what do we do?

Posted By melissa B on June 12, 2008 at 08:45 AM

we signed a forebearance agreement that was forced on us and we cannot make the payment we made the first big payment but the monthly payment we cannot make what will happen to us if we dont make ths payment of 2,400 dollars

Posted By deedee on December 06, 2008 at 01:54 AM

Like many, I got behind in my mortgage, I became temporarily disabled due to a car accident, will return to work in a month, yet the mortgage company doesnt seem to understand this... they gave me an option for the forebearance plan yet even when I return to work, the payment they want is double what it normally is and no way for me to keep my word to pay it... not sure what to do, get another full time job or let the house go.

Posted By Katherine on April 07, 2009 at 11:46 AM

We were two month behind on our adjustable rate payment when I tried to get Litton to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! What a jerk! He also said we should get a cheaper car and a bunch of other stuff that was really rude. Come to find out the loan modification they were going to give us was a just Forbearance Agreement and all it was going to do was add the payments we were behind on to the back of my loan. Since our interest rate was going to stay the same, this would actually make my payment go up! THAT’S what got me into this mess in the first place! My payments are too high! This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.75% fixed interest rate! I decided to call them, and in about 45 days they got my interest rate down to 4.35% and it’s a fixed rate too! The company is First American Financial Group and we are really happy with what they did for us. The website is, w. w. w. TheLoanModFacts . com. We went with them because they have attorneys on staff to make sure the banks do the best they can and they have a 100% money back guarantee. I hope this helps some other people fighting with their loan company! Don’t give up and don’t be intimidated by your mortgage company!

Posted By Stephanie on May 31, 2009 at 05:25 PM

We are a family of loan modification specialists. It's our job day in and day out to help struggling homeowners keep there homes. Foreclosure hurts everyone and with our help and dedication we will fight for you. We have 20years experience with your bank and the programs that are available through your investor. If need help don't wait for bank to call you. Contact us right away no matter what your situation is it's only a phone call. 866-544-0990 opt #2 or visit us on the web www.afscanhelp.com

Posted By jim on June 02, 2009 at 09:58 AM

I am on a forebreden and can notr make the full amount of the last two payments. will I lose my home? how can I get out of the forebreden and re-do my mortgage?

Posted By Carol Johnson on June 08, 2009 at 11:19 AM

my home was recently forclosed and went to auction. It did not sell. I received an eviction notice. I went to court. Now I have to file an appeal to a higher court.Wells Fargo owns the note. HomeEQ Serving is who I made payments to.I Tried to work with them. I tried everything (just like the government said- call they will work with you, they dont want your home) Non of that is true. I am a single mother living with 6 children, one is totally disabled in a wheelchair. I dont know where to turn anymore. I have a good job and I can afford the mortgage I just had some some bad things happened that caused me to get behind and when I did send the money and got caught up they sent it back and said it was too late. My question is... is there a chance that someone at wells fargo will work with me to keep our home, I'm also trying to get hud to take over the note. I have tried different mortgage co. and tried getting loan modified the answer is always no. since the forclosure is already showing on my credit report. Is there any attorney in Texas that is willing and able to go up against the banks. If I cant fight the eviction in the appeal we will be living on the street, the motor went out in my automobile.I dont see how having a home sitting vacant and 6 children with no where to go is helping with the financial crises this country is in.If anyone has any information or ideas please let me know. I only have 5 days to appeal.Thank you so much

Posted By Darla Fincher on July 22, 2009 at 12:00 AM

i lost my home due to a foreclosure with american servicing company who sold my home to wells fargo how can i get my home back.

Posted By melissa on August 18, 2009 at 10:47 PM

Why citibank put me into a forebearence plan if my mortgage is up to day. I have been trying to get them modify my loan with no luck. should I sign the agreement? I have been having a hard time comming up with the payments but so far I have been paying. What can I do. Are they trying to get me to lose my house.

Posted By santos sabio on December 29, 2009 at 05:33 PM

Anyone got updates to post?? Any help is useful.

Posted By carlos on January 12, 2010 at 08:04 PM

Question: I am on a fourbearance plan but in one month I will not be able to afford the payments unless they can lower the bill at least to $500-$600. Do you think it can be lowered to that amount?

Posted By Rick on February 21, 2010 at 06:41 PM

Please respond ASAP,
Thank You

Posted By Rick on February 21, 2010 at 06:50 PM

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IMPORTANT NOTICE: American Foreclosure Specialists (AFS) and our services are not approved by the government or your lender. www.afscanhelp.com is not associated with the government, nor is it a government sponsored website. To access information on government sponsored assistance, please visit makinghomeaffordable.gov. You need to know that even if you accept our offer and use our service, your lender may not agree to change your loan. Also, if you stop paying your mortgage, you could lose your home and damage your credit rating. Work Out and Loan Modification Plans vary and are dependent upon mortgage company criteria and financial information gathered as part of the efforts AFS provides. The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the website is accurate and complete at the date first published, however you should recognize that information contained on this website may become out of date over time. Readers who have particular questions regarding real estate law, finance, or who believe they require legal counsel, should seek the advice of a financial advisor or an attorney. AFS is neither a bank nor an attorney company. By submitting this contact request, you are consenting to be contacted by foreclosure specialists by telephone and/or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.

How to avoid Foreclosure

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I need help quickly, I can't afford the forbearance plan that I was approved for

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