Is there help for those who have already lost their home to forclosure?

Asked by Cassandra Skipper, Canal Winchester, OH Thu Dec 6, 2007

I understand that help is being put in place to keep families from losing their homes in the future, but what kind of help is there for those who have already lost their homes to forclosure? Not only have families lost their homes, but the lose of their home to forclosure affects their credit rating, making it hard for them to purchase homes in the near future.

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26
Chuck Patter…, Agent, Columbus, OH
Thu Dec 6, 2007
BEST ANSWER
Skipper,
As I understand recent developments, the short answer to your question is no. I have spoken with my state representative about this and I have written to my congressional representatives. Who knows what the future holds? As of right now, it seems it's just a matter of rebuilding your life and waiting.
I can only hope that those that are hurt in this mess will be allowed a little flexibility when they apply for a future mortgage, much like what happens with medical bills in many instnaces. There is no guarantee that will happen either. Most of the lenders I work with are of the opnion that two years with no additional credit problems and continued income/employment and they will likely be able to do something for my buyers. I really hope they're right.
Web Reference:  http://www.chuckgetsreal.com
2 votes
Tammie, Home Buyer, Texas
Mon Oct 27, 2008
We have lost our home - and I am sorry, but I think there should be some sort of punishment for those that made billions of dollars wagering on the fact that home buying Americans would not be able to pay for their homes. YES! You do know that a large part of what went wrong was the fact that our Government lifted laws that had been in place for 100 years that protected home owners. Rich people made bets to see how many middle class folks would loose their home! (They actually bought insurance policies that covered them when (not if) all of these sub-prime loans went to Hell in a hand basket)

Anyway... for those that say that "those people should have just paid their bills" WE DID! Our payment jumped from $813 a month to $1676.00 more than double after the first two years... by the 4th year we COULD not pay double what the original was..... We were told when we got the loan by our lender that refinancing would be easy in the third year... YEA RIGHT! WE tried and tried again...

Again, I say these billionaires that made money off the horrible misfortune of the American working people should be punished! HOW could they wagier on such a thing? Part of the punishment should be to help those that they hurt.... oh but I forget.... instead our Government is going to Bail out those that were handing out the insurance policies to these CREEPS! All the while they are spending hundreds of thousands of our tax dollars to bail out thugs that screwed us and then go on luxurious trips to the Galapogos Islands... It's all beyond me! CLASS ACTION lawsuit anyone????????????
4 votes
I found my loan to be called in after my spouse passed. Ripping our sixteen year old daughter and From our home of 14 years onto the streets. Ocean was our mortgage company some bank from Germany was the lender. Both institutions were in the midst of investigations of mirror foreclosures. Who can I contact in retribution of my devastating. Robbery of my home. Any advice will be helpful. Thank you. Homeless in Missouri Twila Coates
Flag Sat Jul 8, 2017
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
utilities assistaqnce funds, groceries, etc are also provided until persons are getting regular paychecks again. funding is uaully at least 3,000.00 per month oer person until that person gets a better income of their own from an employer paid to them each month relaibly and the funds do not have to be paid back since the public has already paid for those programs costs ad for the funding of facilities and other programs which are hiring now --to do hiring and provide help to americans and thse in need.
1 vote
Durenda Fach…, , Coastal Tampa Bay area. Pinellas and Pasco Counties.
Thu Dec 6, 2007
Skipper.

Yes there is help for those who have suffered through foreclosure.

Some sellers who do not have mortgages on their propeperty will sell and hold financing.

Typically the interest rate is a little higher, because of the credit risk.

If you are moving to Florida, I am currently marketing very nice 2 bedroom condo in North St. Petersburg and a beautiful studio on Clearwater Beach that have the terms you need.

If you need further information, feel free to contact me.

best of luck
1 vote
As sit here watching every thing fall around my wife's and I,. I feel so hopeless, because I let my beautiful wife down. She started from nothing,ad built her dream ,with no help from anyone.and raised two boys, and held together everything.until now. She has had this home for the better part of 20 years. She has played over 450.000.00 in intrest only in all those years never touched one penny twords the original debt which was only 225.000.00 she has played more than twice and still they took her house from her. We have nowhere to go. And a eviction is upon us and we have nowhere to go. Someone,God? Please help her... Contact us at 1310 Helen Ave. Ukiah, California.95482. (707)391-5228 . Ask for Steve and penny. Thank you and God bless you. Steve Temple...
Flag Tue Jan 27, 2015
Casterton31, Home Buyer, New York, NY
Sat Oct 15, 2016
I I'm in the same position as you. The Independent Foreclosure Review changed completely I saw the chart which was supposed to be giving homeowners a decent amount of money I qualified for the highest amount then all of a sudden rules were changed and almost people got from what I understand was around $3,000! With the economy as depressed as it was it has taken me 5 years to recover the income I had prior to the foreclosure period pain and suffering hardships all due to Illegal foreclosures!
0 votes
mister.duke, Home Buyer, Prattville, AL
Mon May 13, 2013
I lost my husband a year this Friday, and my life has gone to hell. My husband worked for the paper mill for 43 1/2 yrs. we have had our home 32 yrs but my husband would never pay it off. We have our home loan with a FCU and I have been told they want my house since I'm disabled and no real work history, even if I've not ever missed a payment? I sent everything thru probate and this is the only thing they are taking from me, and they filed late! I know my husband didn't know this and several other things when he retired. He had always promised I would be taken care of. Ladies do take heed to this and don't lose everything you have. This is the State of Alabama.
0 votes
grameof4, , Freeport, IL
Mon Jan 14, 2013
How do you find out if you qualify for the bank payments?
0 votes
brrwarren1602, Home Buyer, Las Vegas, NV
Sun Sep 23, 2012
No one cares if you HAD to short sale your house. Liars will tell you a short sale is better than a bankruptcy. BULL!

The credit reports will look the same for at least seven years. The Home Affordable Refinance was just as bad because even the lawyers at first were saying that the refi was better. BULL!

Even they were saying you had to ruin your credit by becomming ninety days behind on Credit Cards and mortgages. They changed the song a little bit so they could get more clients responding to their adds on TV.

SO NOBODY REALLY CARES ABOUT THOSE OF US THAT LOST OUR HOUSE, EVEN THE SHORT SALES!
0 votes
Living The D…, Home Owner, Palm Desert, CA
Thu Oct 20, 2011
I heard about a man in Big Bear, Davie Graham, that sued his lender, Bank of America for fraud (under HAMP) and WON!! The judge awarded Graham $7,595. Contact Alan Simms at the Center for Litigation and Consumer Real Estate at (909) 584-8820 or email info@clcree.org. He is a great guy who truely cares about people.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
scott can also help alot he knows alot about getting a busins funding grants and individuals and student aide grants, and grants to get a house, car etc, and how to get things done easily and fast and cut through red tape, he can get you your retirement funds, and locate funds you may not know you have available to you and get that sent to you and help you get another house and even help you get a job--hes a healthcare administrator but he also hires applicants for his facility who apply or ask --hesdesperate for staff, especially lpts and mhws and mental health specialists and lvs and other staff, unit clerks, etc, ect, there are over 38,000 open positions on their job site website and they really will accept and hire applicants who want a job, they pay over 3800.00 a month plus benefits at that place. I have all thier numbers on my myspace and in my email and contacts list and in my phone book to give you their numbers and they are listed on information also and their websites and myspaces have their phobne numbers for their professional businesses they do. I have my conact info available for my friend s and family and those who wish to hire me and those repaying money they got from me and those who owe me money or favore---ahahahaha! and those who just want to yack and be friends, or do karaokeor go dancing, skating, have fun, or drive to california with me and get a nice house to live in and decent jobs and incomes ===hahahaha!if I was hr I'd hire me as a mental health specialist for the county DMH asap and pay me at least 5400.00 a month, if i was keller williams realty I'd pay me at least 480,000.00 for my duplex they sold of mine---andget me an awesome house to live in and an awesome job, an awesome employmnt contract.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
the best grants expert i know is carlos and he has created so many smart plans to cover anything it's really amazing he has a plan a,b,c,d,e,f,g,h,i,j,k,l,m,n,o,p,q,r,s,t,u,v,w,x,y,z,etc... he never runs out f smart safe well planned plans to solve any problem and loves to help, really enjoys the challenge and loves to help and he cansolve any problem---he's super smart. and caring.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
Renters assistance funds RASF are provided by the programs for any person in need lso itspaid till they geta decent income to pay their own bills and rent and are stable in their jobs and incomes , paychecks paid to them each week regularly. ez to get, no credit check of course for assistance needed for that type thing.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
The RG grant covers also purchase of a business. It is per person a 100,000.00 grant for adults who need help.
ez to get.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
theres a recovery act grant RG for purchasing a car, funiture , a home--the great thing is that now that home prices in all areas are so innexpensive you can probably buy a house for cash these days even if you arent in the bargain basement websites. Craigs list and realtor .com , the mls and all the realty gudes and ads and listings, bargain .com have homes for sale now for 40,000.00 all the way down to nothing and they are foreclosure homes. You could probably if you researched it find your house on one of those websites priced for sale less thana hundred dollars, because the bank doent want it, if they could have sold it for full price they would have when you had it, more than likely they cant get rid of the house still and its been put back up for sale for nearly nothing on the mls and realty websites and listed for nearly nothing.

You could buy your own house back for nearly nothing and use the grants to pay for it.your realtor or a social worker or case manager or any govt program staff person or lender can help you do that, bankers are very helpful and knowledgeable ablout special grants and programs for honme buyers in all situations and trained to help them get funds they need to keep their accounts afloat and full of funds and can really work to help you, its in their interest to help you get a decent income and a decent home and theyll help in any way, they have computers , faxes and phones and their taff are there to help, because keeping you well funded keeps them employed too. Also the county, state and fed govt are hiring now as are the hospitals and clinics and manufacturing companies, car manufacturers and the stores, the docks and trucking, bus lines, airports and the veterans admin, people are hiring now so nows the time to apply and they will hire you, because they need the staff badly to handle the inreasing purchases and sales due to the affordability of things now.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
the companies that will finace anyone are countrywide, gmac, lbac and wells fargo, fidelity and there are many others. They will make you a loan arrangement and plan anyone could afford. also there is free housing for those who are unemployed or low income and programs to help them get grants for a home and help them get hired and get down payments and funds for a car , home , etc. Also student aide funds can be used for dorms, off campus housing, tuition, etc, even a car. also there are programs through habitat for humanity to get people homes, none of these programs checks credit or puts you through the background check hell because the point of the program s to help people who have had their lives fouled up by those bumps in the road and they know those people probably will have bad credit or evictions, whatever....of course.... thats what happens when the federal govt is alseep on the job, the point is to get people back to work fulltime, hired, making good incomes and into decent houses and to restore their credit any govt programs can do that , and their are many govt programs for that. foreclosure recovery grant -FRG is for that purpose it covers the cost of buying ones home back or another home in location of choice-its fully funded. also now that all the employers are heavily funded for hiring and expansion they are so apply, they will hire you because they are funded heavily for that now.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
If you need a job my friend juan is a guru at getting anyone hired into the perfect job for them and he can get you an employment contract and income paid to you thats excellent he is a human resources specialist, and he places apllicants and job seekers in the best jobs and gives us the best employment contracts and incomes for our experience and intetrests, hes really awesome and smart .
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
heres another option--since there are 6 million homes that are foreclosures, a glut of rock bottom cheap housing, that means banks and lenders and landlords cant be very picky these days about credit or other issues. They are willing to really negotiate some very innexpensive deals and ez credit terms. believe me baks do not want to have to maintain 6 million homes and insure them and monitor them and upkeep--its a loss they dont get paid or. So they just want to get rid of those 6 million homes for as little as possible so that someone else has to take care of those homes. Thats why they have a website called homes for sale for one dollar--and they really are. So basically they have 6 million homes for sale for one dollar---and they are not scams or auctions--they are properties that the bankers do not want to maintain and spend money on--the homes were written off as losses already and the banks have their funds and simply want to get rid of those homes and have a buyer take over --the costs for escrow and putting title deed into your name would be coveredby the govt gants available for that and to buy the house you select. if you want a regular priced home then their are plaenty of lenders who will finance you even with bad credit, evictions and foreclosure because there are over 6 million people with ruined credit and they'd never be able to make money if they only funded excellent credit, they know the best way to make money is to be flexible and to get you funded and financed and back making money at your job, and thats what these programs are about getting that done, obammas website has a grant for any situation imaginable . My friend alex knows alot about all the grants available and can get you whatever you need, he's very smart in getting funds for what we need .
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
cures for needing a job-same thing form a co-op and develop a business and get a group who are unemployed and have diverse talents-pool their talents and assign one person to be hr and assign each person a job title and have the hr person give employment contracts to each person and get funding from either a bank, lender or the govt for the business through the co-op leader with the best credit and leadership skills and business savy. NPPES will fund anyone who hires me through DMHHS , medical, medicare, but there are a million ways to get funding for our paychecks easily. our research program makes our program an additional profit of 5 billion dollars each year, renting space through the county and state , fed govt from their land and buildings they dont use nets us further funds and even contracting out services to other programs nets us funds for hiring and things we need. my friend is more savy than I am about the business aspect of how to make us a decent income, he's a financial coordinator and he gets everyone paid through the programs that our director runs--he's a genius at getting everyone paid every week and he has a plan for every situation and can get grants, scholarships, private and govt funding for us easily. he's super smart --an excellent problem solver.
His name is Pedro, he's a finacial coordinator and he can get anyone into making much better money from nothing.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
here's another option get in a co-op of people who want to buy a condo or own your own, and as an investment group -pool your funds to buy a large building and have the co-op give each of you a condo or unit and for your group pool with people with good credit and financial portfolios and have those persons be the leaders of the co-op so their financial strength covers the persons with poor credit. as an investment group they look at the investment groups credit not your as an individual, under the credit of the lead investment groups director--someone with good credit, the whole group is funded as a group and that covers those with weak credit or other problems and then each person gets a unit to live in.
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
hi tammy there is also a program many banks will do that lets you refinance your loan and get a 40 year loan that will shrink your housepayment way down or a mortgage extension program, many lenders will allow their customers to have a payment extension until they return to work or get in a better economic situation, gmac, labac and countrywide and wells fargo and many lenders do that. Theyd rather help you keep your home or car or funds and credit so they can keep you happy then have you sink. They can give you an extension with a simple call to the creditor and I did it before on my car payment I simply asked the creditors to hold billing off until my income was restored to its normal amount I usually earn as a rehab practitioner of about 4800.00 a month to give me breathing room to be able to pay them and not have my credit messed up and they always did that for me and anyone in a situation of finacial crisis. So they can hold billing till you get paid and they simply keep the account open as " extension status" till you are getting paychecks again and once you beign to get paid better and get stable again if you notify them and your able to pay then you can begin to pay your creditors again. in that special situation you dont have to pay back payments or interest because you didnt have sufficient income /a stable job, some financial crisis, but basically it doesnt hurt them the just change you loans ending date--so instead of the loan ending payments on say december 1996 if you floated for 3 months to get back on your feet, then theyd simply extend your loan payoff date to 3 months later than the original payoff date--ie march 1996. so it doesnt harm your credit and it doesnt hurt them, they keep customer confidence and protect your credit so you can finance with them again which is smarter than messing up anyones credit obviously. becuase who's going to want credit again or be able to get it if lenders are inflexible?
0 votes
Dana Mcdowell, Home Owner, 90805
Mon Mar 7, 2011
there is a program called happ that a realtor friend of mine told me about that helps people who lost their homes and it helps them get funding and credit restoration, ez lending terms that are flexible and helps them get grants for their purchase of a new house . Its easy and most baks and lenders and agents can do a happ for the buyer if they need help or have bad credit or had a foreclosure or credit problem or are homeless or at risk or in a hotel or shelter or other housing situation thats not really a home--as most of us would consider a home.. happ has city grants and county grants state and fedral grants to help anyone in need of a home and its easy to get. The jane adams grant is 25,000.00 and the city grant is about 50,000.00 and there are 1,000's of grants for various losses people suffered or are facing that any agent, lender case manager or person who wants to help can get for a person in distress, and they can also apply and get the funds themselves. It is not based on credit its based on need.
0 votes
Afk, , Missouri
Mon Jul 6, 2009
[quote]Originally posted by Tammie:
Anyway... for those that say that "those people should have just paid their bills" WE DID! Our payment jumped from $813 a month to $1676.00 more than double after the first two years... by the 4th year we COULD not pay double what the original was..... We were told when we got the loan by our lender that refinancing would be easy in the third year... YEA RIGHT! WE tried and tried again...[/quote]

I would definitely be interested in a class action lawsuit, and in addition, filing grievances with government organizations overseeing unfair banking practices. Predatory lending is an understatement as to the under handed practices that went on that caused so many thousands to get burned into losing their homes.

There was serious manipulation (blatantly bogus reporting) done to my credit record just prior to the two year cap on my ARM expiring that made my credit appear to be unacceptable for refinancing. When I say blatant manipulation; old "slow pay" information while struggling through my divorce that had been FULLY PAID OFF dating clear back to 1998 had been "COPIED AND PASTED" into a loan taken out in 2005 and listed as derogatory credit rendering me a liability. I had sold that home years before (in 1998) to avoid going into default because of falling ONE MONTH behind for three consecutive months.

That note was held by Bank of America, a fixed rate, and the persons I spoke with about making payment arrangements to catch up on the one month that I missed because of the stress of divorce and then surgery did not offer any options to recover from a hardship. Instead, penalties were assessed and although I was able to pay the next month's payment with each succeeding month for the following three months; I received a letter of default for lagging 30 days behind each month for three consecutive months. The home sold within hours of placing the realtor sign in the yard; it didn't even make it until nightfall. The buyers were pre-qualified so the bank didn't have a chance to even attempt a foreclosure. THAT credit made future loans more difficult to obtain, although I eventually worked through it and it fell off of my credit report; or should have.

Between that mortgage and the ARM, I had taken out and paid off another fixed rate mortgage while refinancing and upgrading the home that I had bought thereafter. During the second refinance, the lender suggested going with the ARM while emphasizing it was the best possible option, and with my credit getting more and more stable; I would have absolutely no problems in securing a re-fi at the end of the 2 years. He even told me that he would do the loan himself and wave his portion of the fee. Of course, he was not available when that time came. The first re-fi was done with Wells Fargo with a 2nd mortgage through National City. The second re-fi was to consolidate the 1st and 2nd mortgage from before, as recommended by the broker, and was done through Homecomings; all were done through the same lending broker... a reseller of loans working for the banks. There seems to be a string of banks that operate with the same ethics and almost appear to be one large entity with multiple operating aliases.

Once trapped into the ARM where my mortgage began doubling, I had to undergo another surgery. I knew that I would not be able to make the full payment on time and called the mortgage company to try to make some kind of payment arrangement. The representative appeared to be located at a phone center offshore, poor and broken English, and adamantly stated that their bank did not accept partial payments or any type of payment arrangements. She told me that if I could not make the payment IN FULL when it was due, then I would have to make the payment whenever I could get the full amount. She made it very clear that if that FULL payment was not made within 30 days of the due date; it would be shown as derogatory credit and reported to the credit bureaus. I had told her that I would have the funds to pay within a week and a half beyond the 30 day cutoff.

Within 3 days of my account falling beyond the 30 day cutoff, I not only received a late payment notice and late fee, but also a very hefty penalty bordering $300.00 for whatever clause I had violated. ??? I looked over the life of 10 years in being in that home, only to have gained approx $1,400.00 in equity when making payments of over $1,200.00 and made the determination that I would be better off to get the hell out. I had received another notice that the mortgage was due to increase to $1,400 withing 2 months and would only be good for another 6 months at that rate.

Rather than accepting the penalties, struggling to find new ways to meet the UPCOMING hikes in pymts, and all else; I used the money that would otherwise have paid both months payments and contacted a bankruptcy attorney. I handed the property back to the bank without regret.
0 votes
Buzzy, , Ohio
Tue Mar 24, 2009
I'm in the same situation, my house was on the market for a year and 1/2, I paid my mortgage faithfully, then I could not, exhausted my 401k and saving, now my house went into foreclosure. Everyone is getting bail out except the middle America, are we the backbone of this country? Aren't our taxes being paid to support these companies that have us in foreclosure? I suggest we band together and sue the banks they have taken out a loan on us and were being penalize in all ways at least we deserve some form of debt forgiveness so we can start over. Are they any lawyers out there who can help us?
0 votes
Jessica, , Hutchinson, MN
Wed Mar 4, 2009
I was in a similar situation. My spouse and I also lost our home to foreclosure. We had our mortgage through Wells Fargo and tried multiple time to work out a plan with this bank. We jumped through multiple hoops, and submitted info for hardship,and income verification and all the paper work they requested. We faxed copies to the company 5x and they always said they did not receive this or that. Basically the bank was not willing to work with us. We are a hard working family and I am sure that out family was not the first family that was jumping through the hoops. There is nothing worse when you do what they ask of you and you are left with no hope. We put our entire savings into our renovating it. Why are we bailing out banks, when no one was there to bail out those who tried to save there homes. I like others payed my bills. But those got rich off of first time home buyers like my husband and I who trusted the bank. I am tired of the rich getting rich off the poor and middle class. I even like the poor get more help from the government than the middle class.
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Oct 27, 2008
If you have already lost your home, unfortanately there are not any programs, even the government programs to save your home are flawed. on the news today they said in the whole US only 78 people have applied. if you sell within 1 year all the profit goes to uncle sama nd after that 50% of the profit goes back to the government. how is that helping anyone? your best bet is to talk to your bank as they have forebearance and loan modifications that can keep you in your home, you just need to call them and get a good person on the other line, that speaks english and that actually cares and will take the time to help you. if you are not getting anywhere ask for a supervisor. they can take the money you are behind and put it to the back of the loan and start you paying current again, they can lower your rate to tadays fixed rate bringing your payment down. call them and start saving your home.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Don Bush Team, , Columbus, OH
Sat Dec 22, 2007
Get a Realtor-look into Lease/Purchase.
0 votes
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