Depending which bank you are with, many of them are willing to do a loan modification. There are requirement for them to do this. Most of the time you have to be currently employed. I have experience as a loan officer for First Mariner Bank of Baltimore, so if there is anything that I can do to help please call me at 301-661-9694 or 888-762-1554

Hi Sandra,
Please contact NACA as soon as possible. This organization assist at-risk homeowners to restructure their mortgages to make it affordable over the long-term.

NACA has agreements with the major servicers to restructure loans. Visit their website at http://www.naca.com.
You can start the process online or call the local office a week after attending a workshop to make an appointment. A counselor will then input the data and submit your documents.

If you have an auction date, they will work to postpone it while they work with you.

Hi Sandra,

Since it sounds like you wish to stay in your home, you may want to consider doing a loan modification, loan restructuring or loan workout with your existing loan servicer. Finding employment (and quickly) will be your priority and key to success since the loan servicer will want to see that you have the financial means to continue to make payments once the terms of your loan are re-cast.

You can attempt to negotiate directly with your loan servicer; however, many homeowners feel intimidated or uncomfortable doing this themselves. There are companies that offer loan modification services. You may also find that some Realtors are offering this as a service (licensing requirements vary from state to state). Be cautious of companies or individuals demanding full payment up-front. Look for those who either charge a graduated payment for various steps in the process or better yet one that only charges you a fee if and when the loan restructuring is approved.