Upside Down Mortgage

What is a Mortgage Charge Off?

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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Posted in Behind On Mortgage, Help with mortgage, Loss Mitigation, Mortgage Problems, Understanding Mortgages, Upside Down Mortgage FAQs   Add a comment

The Truth About Your Bad Home Loan

The Truth About Your Bad Home Loan
If every defaulting loan followed the advice in this book, this country could avoid increases in homelessness, crime, domestic abuse, broken neighborhoods, and so much more. Keeping these families in place as long as possible, and maintaining the property, is in the best interest of the borrower, lender, neighborhoods, [...]

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Posted in General Mortgage, Help with mortgage, Mortgage Modification, Mortgage Problems, Understanding Mortgages, Upside Down FHA Loan   Add a comment

Can You Buy a Home If You Owe Your Ex Spouse Money for Child Support?

My boyfriend and I are trying to buy a home, but before we buy one, I want to know if his child support payment problem will come into play and cause a problem for us. He owes his wife past due money on child support, not on his current child support. Can that affect our [...]

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Posted in General Mortgage, Help with mortgage, Mortgage Problems, Understanding Mortgages 1 Comment

Dealing with Loss Mitigation Department At Indymac

Indymac is my Lender. Loss mitigation reviewing my loan package. Should I call them or wait until they get back with me?

I haven’t been late in my mortgage payments at all, but my mortgage value is 6k down from what we purchased it at 2 years ago. There are a couple of foreclosures on [...]

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Posted in Help with mortgage, Loss Mitigation, Loss Mitigation Department, Mortgage Problems, Understanding Mortgages 1 Comment

How to Save Your Home: Your Guide to Loss Mitigation

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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Posted in Behind On Mortgage, Foreclosure, Help with mortgage, Loss Mitigation, Loss Mitigation Consultant, Loss Mitigation Department, Mortgage Problems, Short Sales, Understanding Mortgages, Upside Down Mortgage FAQs   Add a comment