Help Behind on Mortgage

T.,
I'm afraid I don't have any advice for you. I just wanted to let you know that my husband and i are going thru the same thing you are going thru...we are not behind yet but next month we will start getting there.

My husbands unemployment is only 250 a week and I had to get a job after 4 yrs.off. and I am only making about 350 a week..

I hope something works out for you....Ijust wanted to let you know I feel for you because I am going thru the same thing as you.

good luck...keep the faith.
Jen

Hi, T.:

I empathize with your situation and concern. We almost lost our home 2 times when my husband had chronic facial pain (TN). Bless you!

In response, YES there is someone who cares and helps!

My hairstylist just told me about a program, NOT OPERATED by the government, that negotiates with the mortagage company on your behalf to reduce your interest rate. Her's went form 9% to 2.5%.

Go to www.naca.com to see if you qualify.
bless you!
R. Tomasi

Try contacting the crisis assistance ministry.

T.,

Contace Sandi Shear with Shor Sales Professionals. Her phone number is ###-###-####. She might be able to help you. You can also e-mail her at ____@____.com and check out the website at www.shortsalesprofessionals.com. Hope this helps.

First call your mortgage holder and let them know of your situation. They may have avenues available to you. Second if you attend a church they may have a benvolent fund(monies set aside to help people in need). In MO there are a number of catholic/faith based facilities that offer help to families in need. I am sure there is something like this in your area as well. Third, have you applied for any state assistance? This is also someplace that can help with different resources. I would do these things today. Putting it off only makes matters worse. As a last resort, could you put your house up for sale? Do you have a family member close that you could live with until you get your financial issues back in order. I know it is difficult but if you can sell instead of foreclosure it will be better. Foreclosures stay with you for several years. Good Luck and God Bless.

Check out DaveRamsey.com, and start listening to him; make a budget and stick to it. Get the "The Tightwad Gazette book(s) and read through those -- an amazing amount of frugal information that might make the difference between you keeping and losing your home. The most important monthly expenditure is food (not eating out -- "rice and beans" kind of food); next pay your electric bill (but don't keep the a/c so cold); keep gas & insurance on the car so you can work and go places; pay your mortgage; everything else is secondary to that, especially credit cards (drop your cable bill and cell-phone coverage to the bare minimum, or drop it entirely -- that sort of thing). Is there any job you can do part-time that will get money coming in? In-home day-care (for children at your home or seniors at theirs), cleaning houses, delivering pizzas, after-school tutor, driving a bus for the elderly and disabled? Have a garage sale, sell stuff on eBay & Craigslist or through your local cheapcycle network. You may already be doing this stuff to the best of your ability, but I'm trying to brainstorm with you. Could you rent a room to someone you know (someone reliable -- not some kook) to help meet the mortgage temporarily, while your income comes up?

If you can't pay the above bills with the money you have coming in, and you can't get any more money coming in, you will have to sell your house or risk foreclosure. If you sit down with your budget and realize you can't keep the house, and you put it on the market and you can't sell it for what you owe on it, you may have to short-sale it. If you do that, try to get a short-sale "without recourse" (meaning they can't sue you for the difference). If you can't keep the house it's best to sell it for what you owe on it (or more); if you can't do that, it's best to short-sale it without recourse; if the mortgage company won't let you go without recourse, the next-best thing is to short-sale it and owe the difference (better to owe $10,000 than $100,000!); and if you can't sell it at all, they will force you into foreclosure. If they foreclose on you (I think you have to be 6 months behind before they start the process, and it usually takes several months to complete it -- so things may turn around financially for you in that time), they'll sell the house for whatever they can get, and then sue you for the difference, but that part may take even a few years to work its way around to you.

.

Hi T.. I am currently a licensed mortgage loan officer in Kentucky, although I am not currently employed. I have heard of a few programs to help. Here is one link to the government's program called HOPE:

http://portal.hud.gov/portal/page/portal/FHA_Home/consume...

Also, from what I understand, the first thing you need to do asap is contact your lender & tell them your situation, hopefully before your loan goes into foreclosure. Many banks and lending institutions want to work with you to keep you in your home because the rate of foreclosures has risen so much & it is very expensive for a bank to foreclose on a property. It is in their best interst to modify, even if temporarily, your loan to help keep you in the house. Explore the www.hud.gov website and even your own lender's website. There is usually help out there. My heart goes out to you. I know it's tough in today's economy. I wish you all the luck. I may be able to dig up some more information. If I do, I'll post it on here.

Hope all goes well for you!

K.

I'm not a homeowner yet, but my sister is a mortgage broker and she was just telling me that if you keep the lines of communication open between you and your mortgage company, things always work out better. They should be more than happy to help you by giving you some resources and answers...after all, they want you to pay your mortgage too!

There has been some good advice posted -- contact the lender, seek assistance, cut back where you can, etc. Very importantly DO NOT PAY for somebody to do these things, which you can do yourself. There are predators out there that charge to negotiate with lenders and other creditors, etc. You have a voice and it's Free. Use it! Good luck!

I had a similar problem and I continued to try directly with the mortgage company to get a modification on my mortgage. I was successful in both our homes. Don't give up and be persistent everything they need to do it. Do not go to a company that will do it for you they are a scam.

In both I did the most detailed letters of hardship be honest and you will be successful.

T. - this may not fit...but I would be amiss to not mention it.

I work with a wellness manufacturing company that decided to market their everyday products differently than Proctor & Gamble, Johnson and Johnson, etc. The result is a system that saves families money and time using non toxic products that are LESS EXPENSIVE than store brand products. But...here is the point: the system also allows families like yours to earn additional income just by helping other families save time, money and health.

If saving time, money and health interests you, if helping others do the same interests you - you could get additional, risk free income with this honest, ethical company to help pay that mortgage. (no product selling) Many, many are doing just that in the last 24 years. I'm working at increasing my residual income so I can pay my mortage off in the next eight years. This company celebrates and awards debt free living at any level - and mortagage burning is a really big celetration. :)

J. B.
www.joyboudreau.com