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If you were to have 2 homes and worked so hard for both of them and suddenly your dh is laid off and can't pay the 2nd home (investment) you are trying to get a modification but they're not helping you what would you do? If they tried foreclosing on you? I am in this situation and it hurts to lose the house I have the money to pay up front. However I really wanted them to help us. I'm not greedy I just think I worked really hard and if I have the money now from tax returns I should just pay it. But confused. NO BASHING!

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Anonymous

Asked by Anonymous at 5:53 PM on Mar. 19, 2010 in Money & Work

Answers (6)
  • Can you try getting a modification with another bank?
    Pnukey

    Answer by Pnukey at 5:55 PM on Mar. 19, 2010

  • If it is an investment property, are you having a hard time renting it? The loan modification is for your primary residence. I didn't think that they did them on investment or vacation properties.
    twin_mommy

    Answer by twin_mommy at 6:14 PM on Mar. 19, 2010

  • I just heard today people who got these modifications from the government are finding their credit scores down as much as 100 pts. Even if your credit is dinged already I would pass on the g wonderful generosity of the government and pay the money. Then I would try and rent out the home to be sure you can keep it if things don't get better.
    itsmesteph11

    Answer by itsmesteph11 at 6:21 PM on Mar. 19, 2010

  • I forgot to add..my dh and I are separated. Sorry. Modification has been denied. He doesn't make enough. Makes 41.00 an hour but he's seasonal. The foreclosure is his primary. I live in the other one. He pays me child support. He rents a room to his friend but money is just too tight.
    Anonymous

    Answer by Anonymous at 6:25 PM on Mar. 19, 2010

  • Have you tried refinancing it? Not modifying the existing loan, but going thru another bank or mortgage company and basically getting a whole new loan?
    tropicalmama

    Answer by tropicalmama at 6:30 PM on Mar. 19, 2010

  • Can't refinance with his credit. Since he's been late on the house. All of your answers are very positive and I appreaciate that. I never knew how this would feel. Even if we aren't together I still care about him as a person and wouldn't wish this to anyone. It's sad. This company just doesn't want to help.
    Anonymous

    Answer by Anonymous at 10:48 PM on Mar. 19, 2010

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