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Bank of America says I qualify for a loan modification but I have to wait for the negotiator to call me. That was 90 days ago. I have tried to get through numerous times but they say I just have to wait for them to call me. Is there anything you can say to get them to respond quicker.

Since BofA has now taken over Countrywide, you will be waiting a long time. Don’t worry about it. I would just check in every couple of weeks to see if anything has changed.

I’ve been working on loan mods with BofA and they are REALLY bad! It took them over a month to get a FAX with the info even though I kept calling every couple of days to verify they got it.

Countrywide was no better. So now that they are merged, they are swamped and moving like molasses.

I have rejected 2 loan mods they sent me because one was only $300 less monthly than what I can afford and the other was $300 MORE than what I can afford. They are ridiculous. So I’m applying for another loan mod. It’s been over a year since they got a payment. You would think that they would hurry up????

well recently ive been meeting up with a company that claims a loan modification is a bad idea! For one thing, its only a temporary revilement, that it’s no a good move and are "advising" me to get an attorney so he can represent me but im not sure who to trust now a days. I need help in finding the right people to help me so i wont lose my home. Another thing they pointed out was that a loan modification only gives you more debt than how you started because the banks only do so much to "help you" and before you know it, you end up worst than how you started. What should i do?
Ok! at the moment i have not gotten the famous FORECLOSER letter. Right now i am at the point where i have already missed two payments and i owe the bank about 4,000. My payments come in two different bills one is for 848.00 Interest rate is 12.2500% and the second of 1710.00 interest rat is 7.7500% (not including tax property) i have been up to date on my smaller bill but am having a hard time completing the bigger bill. Yearly i pay almost 6,000 on tax alone and i am also not up to date on that. Basically the help i am seeking is someone who wont screw me over for money and fight for my home. I know i am paying too much for my home because the home value has gone from 540,000 (from when i bought it) to 316,000. Who can help me? should i look for an attorney for this kind of problem?

Buyer beware. If it sounds to good to be true it likely is. Look at your income and project it over the life of the loan and if you are having problems meeting the minimum take a loss and sell. Selling at a loss is better than a foreclosure and a bankruptcy. Start saving again.

Does anyone know how I can go about finding foreclosed homes and learn how to flip them?

There is a free consumer guide I recently found online below. It has the basics to house flipping and where to find a free list of foreclosure property and Government seized homes.

Its the only free one I seen on-line.

Simply put, pay the mortgage. Short of that you need to contact the lender and try to work something out. You can try a short-sale or a deed-in-lieu of foreclosure. Both would stop the process but neither lets you keep the house.

Declaring bankruptcy will also postpone things a couple months but would you want a bankruptcy and foreclosure on your credit report?

Good Luck!

An acquaintence wants me to get in on a deal to buy condominiums in Mexico, by the sea. Somewhere in the back of my mind, is the thought that non citizens can’t own real estate there? Does someone know for certain?

Yes you can, a Realtor in my office owns a home near Puerta Vallarta. But non-citizens are banned from owning certain types of properties. It is best to work with a reputable agent in Mexico to help you with the transaction.

We have lost a third of our income and unable to make our next mortgage payment. I asked my loan officer about a modification and he acted like he had never heard of it. Now he is avoiding my calls.

As I understnd it, the bank does not have to agree to a loan modification, however In my opinion the people who work for the bank are foolish not to agree to a loan modification particularly where it is important to avoid a foreclosure.

Right now property prices are artificially depressed because of all of the foreclosed properties.

Any property taken back in foreclosure and sold on the open market results in a huge loss for the bank and devastaes the family that loses their home.

It makes more sense to modify the loan so that you can make the payments and keep you in your home.

When the economy improves, your income will improve, the market value of your property will go back up and you will be able to catch up on your mortgage payments and the bank will avoid the loss that they would otherwise suffer if they foreclose on your home.

Where’s the help here??? I thought the banks got lots of money to help people? I thought banks were supposed to be willing to compromise with home modification loans to help keep families in their homes?
Our bank just denied us stating that from our expense sheet that we submitted to them (only leaving us with $200/month extra), shows that we have enough money to pay the ARM on our loan that has just raised up from 8.8% to 9.5% interest, and it will go up again in SIX MONTHS! We have a baby on the way, and a four year old to take care of as well, and they still didn’t budge.

WHERE IS THE HELP???? So many families, are being booted out of their homes because these banks are STILL being stingy with their money, even though they have enough to help people…supposedly.

We don’t know what to do now other than start packing our bags. Not even sure what we can do from here.

Anyone going through the same thing out there? How are you dealing?

Please pray that since this door seems to be closing on us, that there is another one opening up soon to help us, and other families as well.
Can’t refinance the loan. Because the housing market plummeted, we owe more than what the house is worth now. Refinancing is hardly an option for anyone right now.
Pengy: JERK!!!!!!!!!! WHAT AN A**!!!! THERE ARE MANY GOOD PEOPLE OUT THERE LOSING THEIR HOMES AND IT"S NOT THEIR FAULT!!!!!! MANY JOBS ARE LOST BECAUSE OF THIS STUPID ECONOMY FALLING< AND IT"S NOT THEIR FAULT!!!!!!!!!!!! YOU GIT!

Write your Representative and both Senators from your state. All your (and my and everybody else’s) tax dollars are disappearing down a Black Hole with this "bailout" nonsense. Detail your situation and the results of your attempt to get modification, and where you went, who handled your modification application, etc. Name names! Dates, etc.

Is there any path to appeal the decision? Ask, and if there is, appeal it.

I am trying to find a website for foreclosures in cleveland ohio does anyone know of any!

Call a realtor and/or call banks directly. There is no one source for foreclosures in any area but get the word out on what you’re looking for. Sellers of homes and mortgages will be happy to talk to you if you are serious about buying instead of just shopping.

Last year my house was on foreclosure list but i talked to the mortgage company and they put me on a six month forebearance agreement and told me I had 6 months to pay them there $3,000.00 so is there any loan i may get and my house is worth $80,000.00 even through I still have this foreclosure on my credit

Worth 80k. How much in debt is the question? Do you have enough equity to go to another mtg company and get a 2nd mortgage? More important, can you start getting payments made on BOTH loans?

Odds are you won’t have much luck with lenders; might be better off trying thru friends, or taking 6 months and getting a 2nd job to pay off the 3k