I want foreclosure help
October 30, 2009
I would like to restructure or modify my mortgage to a more manageable monthly payments. I don't want to have to do bankruptcy and ruin my credit. All I want is some foreclosure help to get a loan modification that will lower my interest rate.
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Comments
If you are upside down on your mortgage, meaning that you owe more than what the house is worth then there isn't too much out there that can help you. Modification, if the bank is will to do it, may help, but for a very little while. Whatever interest is not covered by the modification will be added to the loan one way or another. Your mortgage balance will probably go up. Bankruptcy will only prolong the inevitable, the foreclosure, but will do nothing to the terms of your loan. Review your loan documents and look for predatory lending issues.






