I lost my job at 60 years old and had to take early retirement (but I am actually semi retired )to maintain medical hospital coverage for me and spouse for life. I am working as a real estate agent and collecting a pension of approx 2000 per month. My mortgage eats up the retirement payment completly so I have had to dig into my IRA to pay bills etc. I am depleting what I was hoping would be my nest egg for full retirement when I reach 65-70. How can I best find a bank that is up to speed and actually writing loans (to refinance) under the Loan Modification program that I beleive I qualify for. Anyone out there in Brooklyn, New York?
Greg;
Sorry to hear what you are going thourgh. I have a bolg on the
IRA, please read it hope it might help. I will try to find someone
that can help you.
Here is my website http://fajardodelacruz.realtors.officelive.com
or my e-mail delacruz.fajardo3@gmail.com
Hope to hear from you soon.
Greg
The easiest and fastest way to sovle your problem is to generate more income. Talk with a sharp Realtor, read SHIFT by Gary Keller, Dave Jenks, and Jay Papasan. There are very few problems that cannot be solved with lead generating 3 hours a days.
Greg
I'm sorry to hear about your situation and your not alone. There are 2 programs coming from the government the Home Affordable Refinance and the Home Affordable Modification. Tony is correct in that the lenders have not rolled out the programs yet but the basic guidlines are available. My best advice would be to talk to a local Mortgage Broker that has read the guidlines and can start you on the process so when the lenders do roll out the program you be ready to go
Good Luck
Greg,
If you are over 62 look at a Reverse Mortgage. I really beleive in these and it may be your saving grace!
Hi Greg,
Sit tight. While broad guidelines have been issued by Fannie and Freddie already, the finer details have not been fully hashed out, and my gut feeling is that it may be another month or so before lenders able to actually implement the program. I think lenders right now are just taking time to acclimate themselves and make sure they look at all the angles. No doubt the almighty dollar is playing a part...
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