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Do we has Senior Citizens get any kind of assistance, we need to keep our home

April 03, 2008

My husband and I are Senior Citizens who have suffered a financial set-back due to Medical Emergency's for my husband. During recent months we have also faced family tragic situations. All of which has put us so far behind on our house payments, that we are unable to catch-up. We are now catching up on everything else but unable to come up with the large sum of money the Mortgage Co wants. Hoping for some help to get our lives back in order so we don't lose our home.

Posted By Francis at 08:31 AM
Comments (4) | Categories: Wells Fargo, Texas Foreclosure | Tags: wells fargo texas

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Comments

Husband in senior citizen and receives Social security only. I work at a bank and have another part time job on weekends to help make ends meet. We recently had 18 months of severe financial hardship. Husband had a stroke, business burned to the ground with no insurance and then Hurricane destroyed all 3 of my autos and insurance paid off balances but no equity in them. We have a mortgage with Vanderbilt that we paid monthly, We have gotten to the point where we are 3 months behind. I can only borrow enough to pay 2 notes from my 401K but that wouldn't be enough to bring me current and on the 1st will have another payment due. I can get a hardship withdrawal but I need proof I will lose my home. Ms. Vasser has been working with me but I cant seem to come up with a plan that will suit her. What options do I have in Texas. I do not want to lose my home.

Posted By Debbie Fornols on April 18, 2008 at 11:47 AM

Have you considered a Reverse Mortgage? A Reverse Mortgage is a real estate loan designed for homeowners over the age of 62. The most popular program is the government backed FHA plan also known as the "HECM" (Home Equity Conversion Mortgage. The property itself is the qualifier. It's not income or credit based. You can get a lump sum of cash or monthly payments paid to you. There is no payback as long as your home is your primary residence. Contact me with your date(s) of birth, approximate home value, mortgage amount, your name & address; I will send you a comprehensive Reverse Mortgage package outlining monetary benefits which may be available for you.

Posted By Gary L Anderson, Regional Manager on April 21, 2008 at 01:48 PM

Contact Wells Fargo and request a reverse mortgage.

Posted By Bob on July 08, 2008 at 10:42 PM

Is there anything like a reverse mortgage for someone age 50 with interest only payments that are tough to make. We do NOT want to lose our home. We want to live in it for the rest of our lives. We owe 833,000 and the value is 1,100,000.

Posted By Kathy on July 27, 2008 at 03:33 PM

How to avoid Foreclosure

Do you want to save your home?

Stop Foreclosure News

Do we has Senior Citizens get any kind of assistance, we need to keep our home

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