I am at such a loss. My husband has a very low credit score and right now our house note is over half of our income. We have a very high interest rate. We have been trying to refinance but, it just is not happening for us. I kept thinking that since we are paying everything on time, it is just a matter of time before we can get refinanced. My husband just wants to give up on the house, I feel like if we can just scrape by for another year...The house needs a lot of repairs, so I'm sure we can't sell or rent. Has anyone found any programs to help people in our situation? We have worked so hard to provide a home for our family.
H. - we'll talk soon - but in addition to what I already know from email, this info helps. What you described is EXACTLY what we do - help people in your situation avoid foreclosure.
warmest regards - hang in there. If I didn't have so many people in my house right now, we could talk sooner, but it would be doing you a disservice.
C.
Hi H.,
Have you tried disputing the negative information on your credit report yet? If so, and I were in your situation, I too would try to hold off as long as I could and stay in the house. Letting your house go to foreclosure will surely seal your fate with regards to not being able to get another house for a long time. Of course, only you know your situation and if you can't feed your family, sometimes very hard choices have to be made. If you do decide to get rid of the house, I would at least try to sell it for what I owed. I may not be able to sell it at market, but hopefully be able to avoid a foreclosure. If your house isn't worth what you owe on it, maybe call the department of housing and urban development and see if there are any government programs you might qualify for. I know the government is trying to keep people in their houses so maybe they can steer you in the direction of how to keep from losing it.
If you've not yet disputed your negative credit items however, you may go to annualcreditreport.com and order your 3 credit reports once a year for free. If I were in your situation, I would take the time to review them when I got them then dispute EVERY negative item on them with the respective credit bureaus. I had two things removed from my credit report and it raised my score over 100 points. I have a friend that had 11 out of 19 bad things taken off just by disputing them. Her score went up too and she was able to refinance her mortgage last month. Once you've disputed all your negative credit items, and received confirmation from the credit reporting bureaus that your credit reports have been "corrected", see if refinancing might be easier. I don't know your credit score of course, but since I've seen how much difference taking 2 bad things off my credit report made, I'm going to be sure to check mine and dispute all negative items every year from now on. I've heard it doesn't matter if the items are accurate or not. You still have a right to dispute them if you want. It doesn't mean they will be removed. But it's up to the creditor at that point to contradict your dispute, and if they don't within 30 days, the credit bureaus HAVE to remove the negative info from your report. It's not a quick fix to your situation as it will take probably a couple weeks to get the reports and submit your disputes, and the creditors have up to 30 days to respond, so it would be like 2 months or more before you could re-apply for a re-finance, but I don't think trying to better your credit score would hurt your situation even if you still don't qualify.
Good luck! I hope you don't lose your home and can find a way to refinance soon so you can save some money and take care of your family.
Blessings,
N.
I know a lady name Julie Waida; She helps people in this situation you can tell her O. M. sent you from networking group.
her email is ____@____.com
I hope this helps.
H.
Call your mortgage company and ask them about a program that the president is implementing. I am not sure about the name of it. It might be H.A.M. (home adjustment mortgage) or something like that. We qualified because my husband lost his job.
They lower your interest rate to 2% for 5 years & then add 1% each year after that but never more than you are paying now. It will save us about $500 a month. It costs NOTHING to do it. No fees. No refinancing.
Best of luck to you & let us know how it turns out.
Talk to your mortgage company. Most large companies are very willing to work with you to avoid foreclosure and it doesn't cost you anything that would be charged by a third party. There are tons of companies out there right now trying to make a buck of those that are having a tough time. If you call the mortgage company and follow-up with them and call often you can do the same thing for free, without involving a third party.
Good luck and I hope things get better for you soon.
