Mortgage loan forbearance ending

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kim.ray12
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Mortgage loan forbearance ending

Postby kim.ray12 » Wed Jul 14, 2010 9:10 am

My husband was laid off in December 2009 from a job he had for a while. We have been in forebearance with our bank; we had a deal in which we were paying 1/2 the mortgage each month. When we applied for mortgage assistance denied it stating that we are too much of a risk - debt vs. income too high. We have a "baloon" payment of $5,000 after this 9-month forbearnance. Any comments or help suggestions? My husband found a mortgage negotiator through the United Way but he's not staying in touch and we have no idea shere he's at with us at this time. We do not want to foreclose on our home.

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Re: Mortgage loan forbearance ending

Postby Admin » Sun Jul 18, 2010 11:05 pm

Was laid off and need mortgage help? If so, the federal government just started a program known as Home Affordable Unemployment Program. More info is here.
http://www.needhelppayingbills.com/html ... ent_p.html

It can provide assistance, and a mortgage forebearance (or break in payments) to people who have lost their job or are unemployed. This is probably in addition to the help you have already received, as this is a brand new program.

kim.ray12 wrote:My husband was laid off in December 2009 from a job he had for a while. We have been in forebearance with our bank; we had a deal in which we were paying 1/2 the mortgage each month. When we applied for mortgage assistance denied it stating that we are too much of a risk - debt vs. income too high. We have a "baloon" payment of $5,000 after this 9-month forbearnance. Any comments or help suggestions? My husband found a mortgage negotiator through the United Way but he's not staying in touch and we have no idea shere he's at with us at this time. We do not want to foreclose on our home.

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Re: Mortgage loan forbearance ending

Postby S Welker » Fri Aug 24, 2012 8:32 am

My husband lost his job almost a month ago and our resources are exhausted. We have sold and pawned all we can and he actually did have a job and the employer hired him and then kept putting off the start date. He went to the employment office for help and after he applied for several jobs they directed him to the veteran representative and he is applying for assistance for retraining and possible other programs the problem is we still have to eat and pay our bills this is a real drag when you fall through the crack for assistance qualification. He is still going on job interviews while we are- waiting . I am also disabled due to a back disorder and nerve ending muscle condition. We are in our 40's and thought life would certainly be different than this. Well at least not as hard. We just need a month or so to get back on our feet, to catch up on our mortgage, or to find something that helps us takes a better direction. And so we still need to eat and this is going to become a problem very soon not to mention the utility notices and 2 months late on the house payment letter at the forbearance plan we had with our mortgage servicer ended. We have always shared what we have no matter what --even now if there was some need we could assist with. If there is any one out there that has a little extra to share it would be much appreciated and will be sure to pass it on to the next who need it when we become able again. Thank you.

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Re: Mortgage loan forbearance ending

Postby Admin » Fri Dec 20, 2013 11:37 pm

Which lender or you using? As a forbearance is really not that common, so you were lucky to get one to begin with. We don't think you want to lose this opportunity, so try to keep current with the arrangement. Call your mortgage servicer or maybe try a HUD approved agency for information on this option. Specifically ask for the forbearance on the home loan too, and be aggressive in asking for it. Learn more mortgage forbearance.


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