Behind on Mortgage
Getting even a little behind on your mortgage can be a slippery slope that leads to losing your home fast. Depending on your location and local foreclosure laws, you have only a few months of being behind on your mortgage before these 'missed payments' (so says the lender) add up to begin foreclosure proceedings.
Even just failure to add the full amount of additional fees can cause a mortgage payment to be counted as less than a full payment, and depending on your lender's policy, this will quickly add up to more trouble than you and your credit record can handle!
So stay up to date on the news and policies about getting behind on a mortgage... We'll list everything we can find about it below for safekeeping.
August 13th, 2009 by Unregistered User
I’m currently seriously past due on my 2nd mortgage. I called my bank right now to once again discuss options. The gentleman said your loan has been “charged off.” He said, “give me some time to see if i can pull it back into the loss mitigation dept.”
He’s gonna call me [...]
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July 15th, 2009 by admin
If you are upside down in your mortgage, you might think about selling your home. But, you might not get enough money to pay off your mortgage. So, what do you have to do? There are ways to save your home and avoid foreclosure. You need to get to know the Loss Mitigation department of [...]
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July 12th, 2009 by Unregistered User
My situation is this. We owe more than our home is worth and we are having a difficult time making payments. We want to refinance but need to know how being upside down would affect our decision.
Is it wise to stop making payments and let the bank restructure our loan?
Do we have to go that [...]
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July 6th, 2009 by admin
Lots of people are upside down and they are worried about destroying their credit if they cannot keep up with mortgage payments. They worry that even if they decide to sell their homes and move into smaller homes, they might not be able to because who would lend to someone who was late on previous mortgage payments and possibly has foreclosure on his or her record? The good news is that you can buy a home even if your credit is bad and you do not have any money left over for down payment. This book will be a guide to help you buy a home no matter what your situation is.
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July 2nd, 2009 by admin
Many people with upside down mortgages find themselves facing foreclosure. What can they do? How can they stop the bank from foreclosing and keep their homes? Can they find a way to keep their house even if they owe more than it is worth and they cannot keep up with their current mortgage payments? Can they walk away free and clear and with some money in their pocket? Find out how in this great guide called the Foreclosure Survival Guide.
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