Countrywide loan modification?
I make this quick. Have some circumstances, my wife and I fell behind our mortgage. Our lenders nationwide. We requested a loan modification. How many times have they actually achieve in something sensible? We financed 100% of subprime ARM with a 80/20 and prepayment penalties. (A piece of junk loans, I know, we now know better) Countrywide wants more financial information to our case. We are still struggling with their payments. We are just starting to get traction back financially, but in serious crimes. There is no justice, there is a house in Florida, we have some money but not enough to update. anyone advise? Please do not lecture on the economy or the “housing crisis.” It refers to a mortgage modification.
I therefore propose to start a new job. Im in Ohio and I am bewegt.Wir South Florida two years of a mortgage, never missed a payment. There is currently interest, but it’s an arm, the adjustment began after 7 years Hätte.Es is a first mortgage and installment loan from National City Mortgage and National City Bank, respectively. 80/20 Total funding $ 419.000.Also my question .. we just want to walk? Should I try to short sell? My wife is the only person on the loan docs and it currently has a good credit (700 +) but no income. I know it’s his honor and mine has always been small in 500 because I have problems with medical bills are lazy verwüsten.Wir end 20 with 3 small Kindern.So … I did not pay January 1st Mortgage, National City called and they sent me a hard form. If you have not yet fulfilled. The term loan has been our current account automatically eingezogen.Mein thought was to seek clemency for 12 months until then, I could probably take over the payment of commissions from my new job we do for rent in Florida first two could Jahren.Auf the other side is a lot of money $ 35,000 a year to just try to keep my wife sell hoch.Eine credit score in the short and long and could take credit ruinieren.So my wife anyway … What should I do? Chapter 7? The important things are that we will be able to rent to rent cars and houses proceed. We do not use credit for anything else. We have about $ 35,000 in credit cards and less than $ 10,000 in balances and we pay you re regelmäßig.Vielen in advance for all your advice!