5 months behind and it is not looking good for me

Hello, you can do a loan modification, that will bring you back to current and lower your interest rate and monthly payments. Owcen is an amazing bank and is helping a lot on loan modifications. I do this for a living and I had very good experiences with them. I lowered a 9.35% rate to a 5.00%. You can still save your house.

I was heading toward foreclosure - when my mortgage company placed me on a repayment. At the time, I just on it - not wanting to lose my home. However, my mortgage payment is much GREATER than it was prior to the repayment plan. I was paying 2650.00 a month. Now I'm paying 3570.00 which does not include my taxes. My total monthly household income is 4350.00 a month. I sought help, and a loan officer from countrywide called me and my husband and asked us to consider a reverse mortgage. We agreed! Started the process, and was approved for only $198,214. My current mortgage balance is $331,220. So, I called my mortgage company to ask if they would consider a short sale. They told me first of all, it may take up to 4 to 6 week to get approved for a quick sale, and that I may not be qualified for it. In the meantime, I must maintain the 3570.00 monthly payment. Countrywide, of course may not mind waiting the 4 to 6 weeks for my mortgage company to approve us for a short sale. My concern if they say no. I'm force to continue to make the high payment, which is causing me to be late with other bills. After paying my mortgage I'm left with less than $900 a month. My taxes are more than 6,000 a year. I don't want to file for bankruptcy, I rather pay my obligation to my mortgage company, but if they say no to the quick sale, then I shall proceed for bankruptcy - Which is not something I want to do, but may be force to do. My hands are completely tied. I need room to pay other bills. Any sound advice from anyone?

Thank Ann

I AM IN A CHAPTER 13, MY MORTGAGE COMPANY HAS $5600 IN TAX ESCROW FOR ME BUT IS STILL CHARGING ME $300 A MONTH FOR TAX ESCROW - HOW DO I GET THEM TO STOP SO I AM NOT SO STRAPPED? THE ESCROW OVERAGE IS MORE THAN ENOUGH TO PAY TAXES FOR 3 YEARS.

I am two months behind on mortgage. HELOC is up to date. REPO car holds me $16K in debt. Should I file chapter 7 !?

I went to court last week, for bankruptcy. My lawyer told me to let my home go due to my income being too low. My paperwork says "reaffirm" on my home. After speaking with HUD today, the represenative didn't think I would qualify for a modification due to my income. My question is, will the bank come after me because it says "reaffirm" on my papers? The paralegal says I can walk away from the home and that the bank will not come after me, because I did not "sign" a re-aff. Is this true? I have asked to speak with the attorney, and am told he isn't in. I need to know.

I have been in a battle to keep my home since 2007. Two catastrophic illnesses forced me to get behind. My husband got Lung Cancer and died in 2003. I paid all the hospital/doctor bills. Two years later, in 2005, my mother got Lung Cancer and died later that year. After her nursing home costs, hospital/doctors bills not covered I again paid all of it from my husband and I's retirement annuity, draining that funding source.

Because I was their caregiver, I had no other available income for awhile but I worked temp jobs whenever and wherever I could.

Before I got behind, I tried to get a Home Loan Modification. Bank of America turned me down 4 times.

Finally, I filed a Chap 13 in 2008 and again in 2009 to catch up. BOA increased my mortg payments over a three month period from 1908 to approximately 3400 I paid the 2200 in May 2009 but couldn't keep up. My attys advised me to let the case be dismissed and reapply for the home loan modification program because of new rules for banks by the Obama administration. I did. I also found an Advocate Group to negotiate on my behalf.

Twice I was verbally approved for the Home Loan Mod by BOA but no paperwork was ever sent to confirm. Every time BOA was contacted they kept saying it was coming.

Instead I received pre-foreclosure filings which my Chap 13 halted and my Loan Mod negotiations also suspended.

Today I received a letter from BOA stating my appeal for a Home Loan Mod was rejected making me again uneligible but other programs are available such as Short Sale or Deed in Lieu of Foreclosure or other programs through HUD and the Hope Hotline.

What, if any recourse, do I have left to keep my home. Is it even possible at this stage.

Urgent!!!