Download our Free BrochureHow to avoid Foreclosure
Do you want to save your home?
We specialize in out-of-court resolutions of Mortgage Foreclosures by negotiating with your lender. Let our expertise help you save your home. We can give you the Foreclosure help you need.
-
Stop Foreclosure News
Please call our Toll Free number
1-866-544-0990 or fill out our FREE QUESTIONNAIRE and we will respond to you promptly
|
|
|
|
|
 |
 |
|
|
|
My home burned down an I can't afford to rebuild, what can Option One do to us?
Our home was lost in a wildfire and we are insured for only 43,000.00. (We didn't know that of course). We are not making payments because we can't afford to continue to pay on a piece of dirt that doesn't have a home on it, and we can't rebuild one. The second mortgage holder is telling me they can garnish our wages and that we still have to pay for the loan. Is that true? or won't they just have to deal with whatever they get from the sale of the land? Or are we liable even after the land is gone? I spoke with one of your specialists about 3 months ago and they said they couldn't help, which I understand. I just wondered about the truth of the second lenders threats to us.... thank you for your time and the answer to my question.
Related Entries
- Is there any obligation for EMC to lower my rate if I can't afford it? - April 15, 2008
- They are in India and we are in foreclosure, thanks Option One - January 7, 2008
- I need a Loan Modification to help us with Option One - January 9, 2008
Your credit will be shot,but there really is no other choice. The second lender will probably try to negogiate with you because they know the paper the loan was written on is now worth.