To change the mortgage.?

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I ask this question on behalf of my friend whose wife is B of A loan to buy a house and a half year back and now she has sent a letter to her loan modified. As there are several changes to their financial situation, so that their mortgage payments have been difficult. If nothing is done to change their current loan, they will eventually default. Originally, they had to do to cover payments for the customer on their loans, but because of their current income is the interest-only payments with money from an account that are expected to retire to consider Justice for the cost of living has been. Despite paying for 1 ½ years and placed him in a deposit of 30,000 dollars she had no equity. It pays interest only, because they can not afford their house. If it were possible, they would leave the house and sell it into something more affordable, but in this market, a sale does not it does not home to verdanken.Die bank in their letter. Is there something can do something to her husband in this regard? Bank not to call her husband because the loan is taken from his wife. Is there a change in the sale or short terms, and how they can benefit. Are there legal loan modification Agency of Arizona to help, can change the loan. Your positive response will be greatly appreciated and it will also help those who are in similar situations. Thank you.

  1. Reply
    bryan l
    January 28, 2011 at 3:03 pm

    Call 1-888-995-HOPE, this is a non-profit HUD counselor that will help you deal with the Lenders and BoA is a tough one.
    Here is a website with all sorts of info

    Note: Many modification agencies out there are scams, they promise you the world, that your money and run.

  2. Reply
    January 28, 2011 at 3:50 pm

    If selling the house is an option, this resource can be useful.

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