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What can i do if my house is in forclosure? please help me

i need help i have ot been able to pay my rent cause my interest rate became variable and know i cant afford it please help me. i have a laywer but it seems like nothing is getting done. anyone out there i need help i have two kids and i dont want to los emy house.

 
Anonymous

Asked by Anonymous at 10:25 AM on Sep. 24, 2009 in Home & Garden

This question is closed.
Answers (8)
  • The lenders, like pp have noted will almost always work with. DH and my credit is in the toilet due to bad decisions that we made when we were younger. We have not be able to repair it yet. We too had an adjustable rate mortgage. Because our credit is so bad we couldn't refinance and because our loan was FHA and not Fannie or Freddie we didn't qualify for any of Obama's fabulous plans to help. Also, at the time we first attempted to work with the lender we were not behind on our payment. The lender said that couldn't help us until we were 3 to 4 months behind. DH said okay good to know call you back in 3 to 4 months. It has been over since months from that phone call and we have made a loan modification agreement with the lender and now have a 30 year fixed rate that we can actually afford. You just have to be willing to make the calls and do the work. Best of luck to you and your family. I wish you nothing but the best.
    Anonymous

    Answer by Anonymous at 12:05 PM on Sep. 24, 2009

  • Do you own the house or rent?
    Gailll

    Answer by Gailll at 10:35 AM on Sep. 24, 2009

  • Why do you have a lawyer? How come you didn't know you needed to refinace before your rate went up? Is there a legal problem causing you to not be able to pay? What about Obamas wonderful plans, did you check into refinancing? Did you try and work with your lender? Can't say there is much else you can do. Sorry you are in this situation but maybe starting over is for the best. It's really just a house, your family makes it a home. You can do that anywhere.
    Anonymous

    Answer by Anonymous at 10:37 AM on Sep. 24, 2009

  • Have you called and spoken with your lender? There are so many programs that they can offer you, believe me you aren't the only one in this situation. Have you been making any type of payment? Even if your payment is $1000 a month and you call and pay $500, the lender will take it and put it into a holding account until the financial workout is complete. At least that shows that you are making an effort and that you want to keep your home. My lender told me that they didn't want my home, all lenders these days have so many negative assets already! I suggest calling them and seeing what you can work out, and don't give up!
    emnasmom

    Answer by emnasmom at 11:05 AM on Sep. 24, 2009

  • I agree with Emnasmon, most lenders dont want the homes or cars. They will work with you. Our lender told us they couldn't do anything for us, so my husband told them they can have the house, now their working with us.
    Also my best friend foreclosed on her home because the lender would not work with her, so they told her she had be out by the 19 of August or pay up, she moved out. Guess what, the lender is calling her now to see if she still wants her home and to see if the can reduce the rate. It cost the lender over 20,000+, they just can't afford that much of lost. She also got care that the CU wont take back because it will loss money, so they worked with her on that too.
    So, dont worry, just get busy
    Ministerswife

    Answer by Ministerswife at 11:44 AM on Sep. 24, 2009

  • Meant to say that it has been over 6 months since that phone call. They also took all of the late charges and fees and put them on the back of the loan so that we were all caught up when the papers went through for the new agreement. Again best of luck to you and your family.
    Anonymous

    Answer by Anonymous at 12:09 PM on Sep. 24, 2009

  • If all else fails, you can file bankruptcy and wor out a program to repay the missed payments, or, lastly, it will give you some time to save some money to find another place to live.
    Anonymous

    Answer by Anonymous at 9:54 PM on Sep. 24, 2009

  • i need help i have ot been able to pay my rent cause my interest rate became variable
    THIS is not why you can't pay your mortgage, you can't pay it because you bought a home you couldn't afford and never educated yourself or admitted what you were doing was foolish. Thank you for yet another home we taxpayers get to pay for and never live in.
    Anonymous

    Answer by Anonymous at 8:36 AM on Sep. 25, 2009

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