when my mortgage has been modified, but face eviction again, how can I put my house?

Deal Score0

I am divorced and left my house to my ex. If I was not there, it amended the loan. It is reasonable to leave the house and I’m back. A mortgage is 3 months late and the bank says it can make loans again. What can I do to get it?

5 Comments
  1. Reply
    "A"
    January 30, 2011 at 5:31 am

    Get a refinance loan from a different bank.

  2. Reply
    Ryan M
    January 30, 2011 at 6:01 am

    If the modification did not help you save your house, then there is really nothing else that can be done. You are NOT entitled to repeat modifications until a house that you cannot reasonably afford becomes affordable. The bank ALREADY bent over backwards for you once and they were repaid by being stiffed for 3 months. Having a home is a privilege NOT an entitlement. If you cannot afford it, you have to right to keep it. Unless you can come up with those 3 months of missed payments in cash….kiss the house goodbye. Banks are a business, not a charity case.

  3. Reply
    dusty_titus
    January 30, 2011 at 6:59 am

    Take in “boarders” or lose your equity & home. Try the Refinance – who knows maybe you’ll be successful.

  4. Reply
    Landlord
    January 30, 2011 at 7:56 am

    You either sell it or refinance it. Those are the only options you have left.

  5. Reply
    Paul
    January 30, 2011 at 8:40 am

    You might want to consider a forensic audit of your loan process. Lenders have many requirements that they are supposed to follow when making a loan and in the last few years have not fulfilled their requirements.

    Nearly all loans that were – ARM’s, Stated Income, Investor, No Doc, had a prepayment penalty, were made to someone speaking a foreign language – were made out of compliance. The audit will show what the lender has done in violation of the lending requirements.

    You use their violations of RESPA, TILA and Predatory Lending laws to give yourself a position of strength in dealing with them, instead of being under their thumb begging for help.

    People can use this information to force a lender to negotiate a reduction of the principal amount, interest rate, the payment, or to complete a short sale.

    Good Luck!

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