Financing in Woburn>Question Details

Lisa Mullaney, Real Estate Pro in Woburn, MA

Need help with a negative amortization loan. I have a 1st & 2nd mortgage on my property. 1st is $520K, 2nd

Asked by Lisa Mullaney, Woburn, MA Tue Jun 24, 2008

is $60k. This house is only worth about 480-500k. I asked my bank about a short-refi and they don't offer this program. I am a real estate agent and have reduced my income by $50k a year. Our credit has gone down the tubes and I don't know where to turn to get help. We are just barely hanging on to the house. Does anyone know of any programs out there that can help us. 3 years ago the house was worth nearly $700k.

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Hi Lisa,

Sorry to hear about your situation. I'm not a realtor but here is a post from a professional like yourself. Maybe Katie can help you.

Have no fear! Now is a great time to buy and it won't stay that way for long. I love working with first-time homebuyers and would be happy to send you some references of other first timers that I have helped. So stop building wealth for someone else and put your money to work for you! Give me a call and we can set up a consultation. Look forward to hearing from you!

Katie McCann
0 votes Thank Flag Link Thu Jun 26, 2008
Sorry to hear about your situation. I can help you . I am affiliated with a company that specializes in mortgage modification. Call me for further information.We also do credit restoration and debt settlement. We have helped many people in your situation. Your situation is not unusual today.Give me a call or visit my website and click on the button that says credit repair.
0 votes Thank Flag Link Tue Jun 24, 2008
Hi Lisa. As you probably know, many people are in similar situations with their homes. We offer a program through our Mortgage Modification Center that may be able to help you. It is not a loan program so you won't have to qualify using conventional methods and it may be possible even if your property is worth less than what you owe. we specialize in working with your lender(s) to restructure your current loan(s) by providing you with a unique, professional plan that you and your lender(s) can accept. The key to our success is constructing a financial plan that you and your lender can approve and, most importantly, that you are able to perform.
You can go to my website for more information.
0 votes Thank Flag Link Tue Jun 24, 2008
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