The mortgage claims they are helping me by doubling my payments?
September 27, 2007
Does your mortgage company have to help you? Technically no, but it is their best interest too. If they approve you for a plan the plan will be based on the information you give them. For instance, if you tell them you have $2000 extra every month they will likely want most of that every month to put toward a work out plan. We tell everyone that contacts us… they only way they will approve you for a plan is if you can afford the home. You must be able to prove to them your income vs your expenses. The amount left over is what they use to make up the arrearages. Here is a recent comment from a client that speaks to this issue.
”I currently have arrangements with the mortgage company. Regular monthly payments are $2,300.00. I guess they think paying $1,000.00 more a month is helping people.”
Actually that is helping you… it is up to you to prove to them that you can’t afford that amount every month. They don’t want to put you an a plan you can’t afford or you will be visiting with them about this again very soon. We can help you get approved for a plan you can afford. Please contact us to discuss the details of your case.
Comments
Hello, I am 4 months behind on my mortgage payments w/American Servicing Co., I've tried to talk w/them and all they do is increase my payments. I decided to sell in a Short Sale, but the realator is reducing the price by $100,000.00. I need between 15,000. to 18,000. to bring myself to date. I don't understand I'm going to loose my house because I need $15,000./2 questions: Can I refuse to keep lowering the price to sell. and how can I ask ASC to add the $15,000.00 to my loan and reduce or keep the payments the same for maybe a year, hopefully by then I can refinance and keep my house and they don't loose money. Is that possible? thank you.







IT IS GOING IN TO FORECLOSURE.
I NEED TO KNOW IF YOU CAN HELP
ME GET A LOWER PAYMENT FORM AMERICAN SERVICING COMPANY.
I HAVE A MORTGAGE WITH THEM. THANKS.