Foreclosure in Oceanside>Question Details

julianjmoren…, Other/Just Looking in Oceanside, NY

I modified my mortgage a year ago but because new circumstances I am late 4 months, the bank want to foreclose, what can I do?

Asked by julianjmoreno64, Oceanside, NY Sun Jul 29, 2012

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Robbie L. Vaughn, Esq.’s answer
You may be able to get another modification based on your "new circumstances." The HAMP guidelines were recently changed to allow this. See the link below for recent HAMP changes.
Of course, the bank can always offer you an in-house mod if they want to. You may have several options you can explore before doing a short sale.

Some foreclosure options are discussed here:…

Good luck!
1 vote Thank Flag Link Mon Jul 30, 2012
Consider consulting with an attorney who specializes in real estate, most professionals do offer a free consultation; is a short sale an option....
1 vote Thank Flag Link Mon Jul 30, 2012
Hey Julian! I would consider talking to a Loan Re-modification Attorney or even doing a Short Sale. There are always alternatives to foreclosure. The good thing is, you are trying to resolve the issue, before legal action is taken further.

If you are considering a Short Sale as your alternative (which I think is your best option), please feel free to contact me, so I can provide you with more information, and so I can show you, how a Short Sale may be best for you.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

De Vonte Williamson
Licensed Real Estate Salesperson
Serving Long Island & Queens
Coldwell Banker Residential
Mobile: (631)384-3695
"I Stand Behind Getting You Results!
Your Trusted Real Estate Professional for Life!"
1 vote Thank Flag Link Mon Jul 30, 2012
It sounds like homeownership just isn't for you at this time. Times are difficult for everyone but making a honest assessment of one's situation and course of action is tough to do because we all want to hope for the best.

Here's what I recommend to do:

1. Hire a good, tough Attorney. PAY the Attorney the retainer fee. Attorneys don't give advice for free; they certainly don't begin representation without a retainer fee.

2. Get your home listed for sale with an experienced local Realtor. Short sale is probably your only option but you won't know if your Lender will accept it without a real deal on the table. That means a Buyer with a signed contract and your complete financial package ready to present to your Lender for the short sale approval process.

3. Prepare NOW to move out.

Sorry for being so blunt, but you don't have much else in the way of options.

Good luck to you.
Trevor Curran
NMLS #40140
0 votes Thank Flag Link Wed Aug 8, 2012
It is possube that a Short sale will be in your best interest. I need more information to advise you. Please give me a call at 516-782-5753

Nancy Achstatter
Home and Hearth Real Estate
230 Merrick Road
Oceanside NY 11578
0 votes Thank Flag Link Mon Jul 30, 2012
You might want to consider a "short sale". This option may be best way to go in your situation. If you would like to discuss this further, I would be happy to talk with you at no obligation.

Gina Lollo, MA
Certified Buyers Agent
Short Sale Specialist
Gladstone Group
(631) 335-7078
0 votes Thank Flag Link Mon Jul 30, 2012
The reality is that a year ago, you reevaluated everything and made a new committment:
Now, you are saying that you were wrong.
No Bank, especially yours, is going to give you another chance.

The best you could hope for is to ask the Loss Mitigation Department if you can do a Shortsale; this will give you more time and lighten the impact on your credit score.
They will ask you for a HARDSHIP letter, detailing your "circumstances".
Enlist the help of a Realtor and LIST the house before you send the letter. Include a copy of your Listing Agreement, a CMA, and a letter authorizing your Realtor to work with your Lender.

Good luck and may God bless
0 votes Thank Flag Link Sun Jul 29, 2012
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