Home loan foreclosure?

Question:

my home is close to forclosure and a company said they can help me it was a late phone call so i didnt listen to it all but i guess the company will contact its list of lenders and try and get it stopped by a refi or something, just seeing if anybody else has used this service or knows anything about it

Answer:
I doubt they are trying to refi you unless you have substantial equity in your property. Lenders will not extend you another loan with late payments on your existing loan.

you would need 60% LTV if you would try to refi. You need to look out for skams, but somepoeple can help you out with what is call a short sales.

It's a scam. Ignore it.

You should probably at least call back and get the whole story about what they actually do. It seems a little strange that they'd offer refinance loans for foreclosure situations from a huge list of lenders. Very few lenders will do loans on properties that are currently in foreclosure. You might find that their list is a list of private investors, who would purchase your home and sell it back to you under a leaseback or land contract agreement.

Do some research before just assuming it's a scam, and find out what they are actually offering you. And make sure you have a few other backup plans to stop foreclosure, in case that one falls through. Refinances are notorious for falling through at the last minute, especially in foreclosure situations.

Good luck.

ForeclosureFish
http://www.foreclosurefish.com/...

Home loan foreclosure?

Hot Topic