Foreclosure in 93240>Question Details

teresa2122, Home Owner in Kalamazoo, MI

boa screwed me.

Asked by teresa2122, Kalamazoo, MI Fri Sep 21, 2012

i was loosing ss for kids due to being 18, i called boa before the loss knowing i wouldnt be able to pay the amount, seems how i was current they couldnt help i had to be deliquent so ss stopped i fell behind applied for remodifaction like they said, 4 months after doing paper work i get letter today saying they cant do it and will be in forclosure. i have fha loan.

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Don't take their first answer as their final answer. What reason did they cite for refusing to modify your loan? Is it a legitimate reason? If not, call your congress person, your Federal Senator or Representative and ask for help. You may also be able to get help through your state court system. I know here in New Jersey we can how mediate mortgage issues through both our foreclosure and bankruptcy courts as well as through our Department of Community Affairs.

James is also correct, go to www,makinghomeaffordable.gov and find out what resources there are through this federal program that may help you.

It seems as though banks are like rotten insurance companies, they always deny your request the first time in hopes that you will go away. Don't do it. Persevere and see what can be done. And Good Luck to you.
0 votes Thank Flag Link Sat Sep 22, 2012
You may want to reach out to the Government and see if there i help. Lenders will modify the loan if it makes sense. The problem with most loan Modifications is that if you purchased with an FHA loan they can not set you up with a mortgage payment that is more than 31% of your gross income. Often this amount is not enough to cover taxs, insurance, interest, Hoa fees, and any type of reasonable principle reductionat your new income level. If it can not work out to a 30 payoff you may be turnrd down but it never hurts to try. Here is a link to help you reach out to as agency that can help you work out things with your lender.

http://www.makinghomeaffordable.gov/Pages/default.aspx
0 votes Thank Flag Link Sat Sep 22, 2012
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