Forbearance agreement. What this show on a credit report?

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ex-wife of my husband made a contract with the patience of a mortgage company. The name of my husband is still a loan, because it can not refinance. Currently, your credit report shows that of 2800, he left. How long will it take to see your credit report now. We try to get a loan to buy a house soon, and the bank said, representing the current that can give us a loan.
Im having trouble understanding it, maybe someone can help. Around June last year, we fell behind our mortgage, our original mortgage company, Flagstar, we have the patience of the program, which reduced our debt by approximately $ 300. We were told that no one wants to miss payments and continue making payments until they could find, we qualify for the program. So we did. 3 months later, they put us in a loan modification program, the same thing, they say, to continue to make payments. We continued to wait for the result, but the loan was sold to the Nation Star Mortgage, and they began the process of putting us in loan modification program on the other hand, we said the same thing make payments and do not be late. We therefore. But we never heard of any results or new news, Nation Star Mortgage. Its very confusing, he continues to wonder if we should start to make additional payments over and above what they ask and they say that it is not serious, and they send it to us. We had a claim with our insurance company to get the roof done, and the nation Star wont release the funds to get the roof done, because they say we are 89 days behind in our mortgage. They just kept under control and said that this runs an escrow. We are so confused, it really feels like they are just waiting for the right moment to say to get out of your being left on. We can not get any information from them when we call we talk about different stories for each person. We can not even speak the same person, we recalled a few times per minute, and you lied too by saying “Oh, I’m alone in the office right now” Its very frustrating knowing whats now underway. Are there Web sites for information on their experience or can anyone help?

2 Comments
  1. Reply
    Colin
    February 12, 2011 at 5:16 am

    I’m having the same prob. having co-signed a loan with my brother. Your husband can help her with the 2,800 and treat it as a parting gift. thats the only way out if you cant wait for her to normalise the loan

  2. Reply
    Othniel
    February 12, 2011 at 6:09 am

    Unfortunately you are not alone in this kind of hanky panky. Just look at it like rent and start setting money aside for the rainy day that will come sooner or later. Since you have tried to work things out in good faith and they have not responded then don’t try to figure it out any more. The people in the banks are incompetent, the person you may speak to has no authority to do anything, nobody knows what is going on and there is nothing you can do at this time.

    Eventually you will receive a letter telling you that the loan modification arrangement is for x number of months or years at a certain percentage rate of interest. At the end of those years it will go to a higher amount for x number of years. If you sell the property or if you pay until the end of the loan another additional lump sum amount will be due to pay back the uncollected interest.

    Hope this makes some sense and isn’t too discouraging. You will get to stay in the house as long as you make payments.

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