Foreclosure in West Orange>Question Details

educate141,  in New Jersey

I completed a 3 mth trial plan, 4 yrs Indymac was working on a modification. 4 yrs later Im denied for having to much rearage. Is this legal?.?

Asked by educate141, New Jersey Wed Oct 9, 2013

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I would recommend talking to a Real Estate attorney to have them speak to the bank on your behalf. I would also speak to a mortgage broker to see if you qualify for a refinance.
1 vote Thank Flag Link Wed Oct 9, 2013
As a result my credit is bad. Would I even qualify for a mortgage?
Flag Wed Oct 9, 2013
Contact Eric Hausman 977-256-1414
He is an attorney that knows how to deal with banks.
0 votes Thank Flag Link Thu Oct 10, 2013
You should speak to a real estate lawyer. The banks fave a program called forebearance than addresses the amount behind and can use it with a modification.
0 votes Thank Flag Link Wed Oct 9, 2013
From experience, I'm not sure "legal" is the right word as much as can they probably can do it. It is probably written someplace where they have the option for the denial. It is exhausting, I watched a few people go through the process and get no where, but they keep going through the process.

I want to ask a few attorneys who someone in your position should be speaking with. there are so many scams in this area at the moment you don;tknow who to trust. I get it. But, I would like to get an answer myself as to whom ( attorney, accountant, credit repair person) exactly you should speak to for some help without being manipulated further.. Stay tuned.
0 votes Thank Flag Link Wed Oct 9, 2013
. I was put into a 3 month trial plan and then for the next 4 years they kept telling me they are working on a modification. I sent them everything they asked for time and time again. Called hundreds times asking for a answer to my modification and they kept giving me dates when they will have a answer. It wasn't until I filed Chpt 7 Bankruptcy did I get a answer. The reason for my denial was there was to much rearage or unpaid principal balance is over .30% of the principal balance. My argument to them was you took 4 yrs to give me a answer of cause there is a huge reareage because they wouldnt accept any payments during this process. Indymac created the huge rearage or unpaid balance then denied me because of it. This just isn't FAIR
0 votes Thank Flag Link Wed Oct 9, 2013
Tough situation, and yes, you would probably not qualify for refinancing I was thinking the same thing, not fair, who do I turn to.. I want to help answer that question and will poke around with a few people to see what I can find out!
Flag Wed Oct 9, 2013
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