QUESTION
What can I do if I just found out that they would consider a modification on a forbearance plan?
Asked on Dec 08th, 2012 on Foreclosures - Arizona
More details to this question:
The truth is that now that we are further in debt with our mortgage company that they would only bring our loan current and our mortgage payments would be just as high as when we first started out. Now that we found this out we have to try and short sale are house within a five-month period or they will start foreclosure procedures. I can't believe that they lead you in believing you have a chance to save your home.
3 ANSWERS
Civil Litigation Attorney serving Federal Way, WA
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Stasch Law LLC
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You should contact a housing counselor. Go to the State of WA Department of Commerce website. It will give you information of the foreclosure fairness act. You should contact an attorney or housing counselor and begin the mediation process.
Answered on Dec 11th, 2012 at 1:27 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Complain to your Attorney General and to your Congressman/woman. Yours is not a unusual situation at all.
Answered on Dec 11th, 2012 at 1:26 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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There are attorneys out there that can help you. The mortgage company does not really want the house. Most mortgage companies will reduce the interest rate to about 2%, and that reduces the payment substantially. Some have even forgiven part of the debt.
Answered on Dec 11th, 2012 at 1:26 PM