Anybody had experience with foreclosure?
Question:
Answer:
Countrywide or any lender would not agree to lose money when they have already gone thru the process of NOD and Foreclouser, so its ur responsibilty to completely pay them off (incl fees and charges) to get current.
I have a question for you, how much equity do you have in your house? cause a real estate broker may be able to help you with a hard money loan (usually high interest rate and huge closing costs), but it will get you out of this situation, and you will be able to live in your house. After that, you will be able to pay them off monthly, I would suggest you work on ur credit after you are out of the situation and then refi the property for a lower payment and pay off your HARD MONEY LOAN.
Hope this helps, please let me know it helps. Thanks
I had a foreclosure on my home a few years ago and set up a payment plan which made our payments 300 more dollars. We were late one day and they sent the check back. I would talk to a lawyer sometimes they give free consultations. Good Luck
have you thought about selling and starting over?
I was a lucky foreclosure story. My ex-husband allowed our home to go into foreclosure after we separated. I had a signed lease agreement that serves as proof / date of separation in WA, so although the foreclosure is on my credit, I was still able to buy a new place of my own.
I don't know how well he's done since the foreclosure. Try chatting with an attorney, maybe a bankruptcy attorney could point you in the right direction.
Good Luck
First - is your forclosure already filed - in court - is it thru their attny? 1. You can call their attny, if he will talk with you, and see if they will refinance with you, or take off the attny fees, or if thye will allow you to refinance, and consider a short sale, in your property...If you can find a buyer (family member or a friend) to buy your home, than you live there - make the payments, and than buy it back... Have you tried a mediator to medigate on your behalf - check yahoo for key words for your state. "foreclosure help, etc..Good luck to you!
No judging here - we've worked with many homeowners and we understand that all kinds of bad things happen to people.
The other users are correct - the lender won't negotiate. The mortgage is tied to the property, and they will take it back. Unfortunately, Countrywide is one of the worst lenders to deal with, and their loss mitigators are inexperienced and extremely hard to deal with. In my opinion, Chase is the only lender worse than Countrywide.
If you're behind by $5000, then you may be able to negotitate a repayment plan with them to pay back the arrearages over a period of months. We've gotten the mitigator to take 25% of the back payments down, and spread the rest of the arrearages over 2 years.
Depending on your hardship, you may even qualify for other plans, like a loan modification, partial claim, etc. since th emitigators are basically glorified bill collectors, they typically won't tell you abotu these programs.
Sorry I can't give you more info, but not knowing all the details of the foreclosure I can't really get into specifics.
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