Can anyone help me find a lender to help stop foreclosure?

Question:

My husband is a self-employed lobster fisherman, and last year he injured his back and was unable to work for 3 months. During that time, we fell behind on all our payments, and have spent an extremely stressful year trying to get caught up. Our current mortgage lender has demanded all back payments in cash before they will accept anymore payments from us. We could not come up with that amount, so we are now facing foreclosure on our house. I go to these websites of mortgage lenders that say they specialize in stopping foreclosure, but every time I talk with them on the phone, they tell me that they can't help. Is there any company out there, or private lenders that will help on a refinance for a foreclosure bailout? I've even looked into hard money lenders, but they all seem to be for corporate loans. We had great credit until this happened last year.

Answer:
My sympathies That's not a good situation to be in...

One thing to remember is that your existing lender will lose money if they foreclose - they have some motivation to negotiate with you. The trick is finding out who to talk to.

Another avenue to try is one of the credit help agencies, they can often help you negotiate with your lender to avoid foreclosure.

See if there anyone who will lend you the money to get current on your payments.

If you have to...find a buyer for the house who can negotiate with your lender (many real estate investors specialize in this sort of thing) - you'll lose the house, but better that than letting the bank foreclose.

Even if the bank repossesses the house and sells it, you could still be held liable for their legal costs and the difference between your loan amount and the sale price. This kind of debt will haunt you forever - especially in light of the recent changes to bankruptcy laws

File chapter 13, it will stop the forclosure and you can repay the back payments. Best way do it. Only file on the person that has the worst credit that way one person keeps good credit or can rebuild. Also that person can restablish credit so you can get it refinanced and never has to claim that they filled chaper 13 banko.

self employed people should definitely have insurance in case these things happen
I can't see how any lenders will give you money if your mortgage payments are that far in arrears

Can anyone help me find a lender to help stop foreclosure?

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