Mortgage upside down. Help for that?

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g_geraghty
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Mortgage upside down. Help for that?

Post by g_geraghty » Sun Oct 25, 2009 12:09 am

I have a mortgage for $500,000. It is a refi so that I could put money into my business, which I started and have owned for over 15 years. The home is presently assessed for approximately $435,000. I am not behind. HOwever, I did have a few late payments in 2008. Is there help for this price range? My present mortgage is with Wachovia and so was my original mortgage.

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Re: Mortgage upside down. Help for that?

Post by helper » Sun Oct 25, 2009 12:21 am

The Obama / Fed government plan can help in your situation. It is called Making Home Affordable.
http://makinghomeaffordable.gov/

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Re: Mortgage upside down. Help for that?

Post by helper » Mon Dec 28, 2009 5:43 pm

Another place to look to for mortgage help is banks. Many banks offer mortgage and foreclosure assistance. For example, take a look at Wells Fargo mortgage assistance programs and resources. They can help with modifications, short sales, and much more.

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Re: Mortgage upside down. Help for that?

Post by Banker » Tue Mar 20, 2012 8:47 am

I am a writing for my family, I'm a married mother of 2, and my husband has a vending machine business. I am unemployed. We recently had to drop our health insurance, because we just couldn't afford it.... and we have reduced our spending as much as we can, but we are having problems paying our bills. We live the the house I grew up in, of course now its upside down in our loan, and we are a good family. NEVER have we asked for help EVER in the past. But I am scared. I am so afraid if my son falls on his scooter or my my husband, me, or our daughter needs some medical care, we could lose the house we've lived in for 45 years. I am embarrassed and don't want you to call, but could you write me with some info on what to do?

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Re: Mortgage upside down. Help for that?

Post by Admin » Sun Mar 25, 2012 11:01 pm

Well the government created a new mortgage program for the unemployed, and it is run by HUD (Housing and Urban Development). Information on it can be found here. http://needhelppayingbills.com/html/hud ... loan_.html The program focuses on people who have lost their job or had a reduction in income due to fewer hours at work. The main non-profit that runs it is CredAbility, which is a national non-profit.
Banker wrote:I am a writing for my family, I'm a married mother of 2, and my husband has a vending machine business. I am unemployed. We recently had to drop our health insurance, because we just couldn't afford it.... and we have reduced our spending as much as we can, but we are having problems paying our bills. We live the the house I grew up in, of course now its upside down in our loan, and we are a good family. NEVER have we asked for help EVER in the past. But I am scared. I am so afraid if my son falls on his scooter or my my husband, me, or our daughter needs some medical care, we could lose the house we've lived in for 45 years. I am embarrassed and don't want you to call, but could you write me with some info on what to do?

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