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Port Saint John : Real Estate Advice

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  • Home Buying6
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Activity 4
Fri Jun 22, 2012
Servicing of a loan is collecting the payment and posting it. Is that really your question?
Are you asking about the USDA Rural development loan program?

If so, might as well get the answer from the proverbial horse's mouth:

Best wishes, Jim
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Fri Jan 6, 2012
Alma Kee answered:
Hi Monk,

Go here:

You may be able to get a loan modification to lower your monthly housing payment (mortgage, insurance, HOA fees) to 31% of your income.

Contact the company you are making your mortgage payment to (they probably do NOT actually own your mortgage by the way) and ask them for a modification to your mortgage.

If they cannot give you a loan modification (your income is too low to allow you to stay in the house) you may be able to do a Short Sale, Deed In Lieu of Foreclosure or even a Deed for Lease that may allow you to lease the house.

Hope this helps.

All the best,
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Sun Oct 16, 2011
Steven Ford answered:
Call your firendly, neighborhood Realtor. No cost to you and you will learn a great deal.
0 votes 7 answers Share Flag
Tue Apr 5, 2011
Scott Godzyk answered:
Not really illegal but unethical. A short sale can not be approved or pre approved without an offer and the short sale package sent to a negotiator for approval. If there is a new offer than it is a new submission process. The seller has to fill out and send in all their financials and a hardship letter stating why they need teh short sale. Once the offer comes in, teh listing agent needs a preliminary hud as if it was closing and a net sheet showing the bank what they get. When they receive all of this a negotiator is assigned, they will request an appraisal and when everything is back, they can accept or counter offer the short sale offer. best cases is 4-8 weeks worst cases are 3-6 months. Good luck with your offer, realisticly chances are slim if you want the tax credit. ... more
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