Unfortuantely there are mostly promises of help - but no real help. Talk to Anne Baird at Allyson Huber's office on Pine Street. See if our government representatives can help out.
Banks do not care. They appear to be giving only lip service and PR to the problems. Obama's newest plan helps a select group of borrowers who are upside down on the loan by no more than 25%.
Your friend's situation is especially sad as it comes from a situation out of her control. Good people are being hurt by the bank's greed in selling loans to anyone regardless of income.
If anyone tells you or her that they can modify her loan - ask to see who they have helped in the past. The modifications are public documents recorded in Stockton at the Recorder's office. If they will give you a name or address I can search the public records to see if it really happened.
More greedy people are preying on good people who need their loans modified. Be careful.
I wish you and your friend the best in finding a solution.
Realty World - Davis Homes & Properties... more
We are sorry to hear that you might not be able to afford your mortgage payment. Have you tried to refinance your mortgage with a lower interest rate? You should talk to a reputable lender and see how they can help you. Many lenders now provide loan modification. You should also contact the bank and see if they have any alternative solutions for you. If you really think that you cannot afford the home anymore, don't just walk away from the property. Find a reputable Realtor that you feel comfortable working with. We hope everything turns out well for you and your family.