Financing in San Ramon>Question Details

Jd, Home Buyer in Castro Valley, CA

What is our chance with a lender if we have 2 loans with them?

Asked by Jd, Castro Valley, CA Mon Jul 20, 2009

Hi Harper,
We have both our primary and second loans with the same lender. We are very very much underwater, with my husband switching job every 4 months for the last 12 months, but we are still holding on to paying the mortgages. The ratio value-to-loan is at 107% on the primary, the second is at 8.1% fixed. What is your advice? Thanks.

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I was just looking through old post and I noticed yours. If you were not able to refinance at the time of the post, I can certainly help you out now. You can call me at 408-352-5147 or email me at You can check us out at I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes Thank Flag Link Thu Aug 15, 2013
Hi Jd,

You can either continue paying the mortgage if you can afford to, try a loan modification or short sale. These are your best options. If you like, I would be happy to consult with you to see if a loan mod will work as I can do this for free. It's my way of giving back to the community as I've seen too many people getting ripped off by loan mod scam artists. Please feel free to call or email me anytime. Good Luck.

Kamal Randhawa
0 votes Thank Flag Link Tue Jul 21, 2009

The questions is can you afford your payments at this time? Did your husband's income reduced due to all switchings? Did you try for loan modification so that you can keep your house? If you are planning to sell then it would be short sale and you need an experienced agent to work with who know how to handle the short sale properly from the begining.

If you haven't tried for loan modification, then contact your lender directly so that they can help you to reduce your payment, you don't have to give anyone any fees. Consult with CPA or attorney for any tax ramification. If you are planning to do short sale, then let me know, I can set an appointment with you to discuss about short sale option. I specialize in short sales.

Blaison Samuel
Certified Short Sale Specialist
0 votes Thank Flag Link Mon Jul 20, 2009
Try this site

Its the governments idea of helping borrowes like you.
0 votes Thank Flag Link Mon Jul 20, 2009
it sounds like your 1st and 2nd exceed 107%....if you are attempting to modify your loans with the lender you may stand a chance since your situation is critical. Just note that every loan needs to be approved by the bank's underwriter. Your debt and credit will, as well as the ratio LTV, play into loan approval. BUT, Your husband switching jobs every couple of months shows no stability and is a serious negative.
0 votes Thank Flag Link Mon Jul 20, 2009
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