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Angie, Other/Just Looking in 85086

should I stop paying my mortgage to qualify for a modification? My husbands pay has been decreased as well

Asked by Angie, 85086 Mon May 11, 2009

My husbands pay has been decreased as well as mine and we are now almost done with our savings, sold what we can. We need help but they will not work with us because we are not past due on our mortgage. They also will not refinance us because of his cut in pay.

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Angie,

dont take everything out from your savings!! You don't have to stop paying the mortgage in order to qualify for the modification, may be you are not talking to the right person. Try to contact someone in loss mitigation department of your lender to talk about modifcation or contact some loan modifcation company who doesnt charge upfront fees for modification.

But If the lender is not working with you on loan modification, then do short sale, at least you can avoid foreclosure and have some piece of mind. For short sale, contact a realtor who has experienced in closing some short sale.
0 votes Thank Flag Link Mon May 11, 2009
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