What options are available on FHA loans to stop foreclosure and bring you current?
February 18, 2009
We have an FHA mortgage and have repeatedly contacted our mortgage company to try to work out payments but they want an ever increase lump sum of money or nothing at all. I have researched FHA loans and there options available for our loan but they refuse to use them.
Comments
I have an FHA as well and have been working with a Home counselor and TBW but still have no resolve. Neither one of us can even get a return call.
I have the same problem some finally called me after 6 months of this mess I applied again for the 4th time and they said it would take up to 3 month before I get an answer so it looks like good bye home
I have a FHA home loan that is going into forecloser.
What are my options to stop due to none payment. Lack of work.
What are my options to stop due to none payment. Lack of work.
I would be very carefull on fha loans, if they foreclose on it and is fha backed, the government can put liens on other properties, garnish wages, garnish any govt benefits (ssi, disability). I would do anything i could not to let a fha loan get foreclosed since the govt will go after you instead of the mortgage co for the balance.
I finally have gotten in touch with Dana from TBW. I sent in my paperwork again yesterday. He called me today to tell me he is not sure what they will be able to do. He also told me there is a rumor out there saying your house payment will go down if you apply for a loan modification. He said that is false.
I thought that is what the whole package was that Obama put in place. Am I wrong??
I thought that is what the whole package was that Obama put in place. Am I wrong??
We were two month behind on our adjustable rate payment when I tried to get them to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! What a jerk! He also said we should get a cheaper car and a bunch of other stuff that was really rude. Come to find out the loan modification they were going to give us was a just Forbearance Agreement and all it was going to do was add the payments we were behind on to the back of my loan. Since our interest rate was going to stay the same, this would actually make my payment go up! THAT’S what got me into this mess in the first place! My payments are too high! This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.75% fixed interest rate! I decided to call them, and in about 45 days they got my interest rate down to 4.35% and it’s a fixed rate too! The company is First American Financial Group and we are really happy with what they did for us. The website is, w. w. w. TheLoanModFacts . com. We went with them because they have attorneys on staff to make sure the banks do the best they can and they have a 100% money back guarantee. I hope this helps some other people fighting with their loan company! Don’t give up and don’t be intimidated by your mortgage company!
I need answer I aplication Loan Modification at May 15 2009.
My loan number is 2762842
My loan number is 2762842






