Mortgage Relief Help????

Updated on January 19, 2010
B.B. asks from Mercersburg, PA
10 answers

Long story short, my husband was laid off for 11 mths. We went to our mortgage company asking for help..Sorry about our luck.He now has a job x7 weeks, we go back to our mortgage company again for the 3rd time. They still can't help us..Yes unemployment helped pay our bills and yes we have to pay taxes on it, but to bank unemployment don't matter..So we get a letter in the mail.. U.S.Government Relief Program saying they can help us.. My question is can they?? Or are they a joke?? How do I know?? What to I do?? I wanted to start my new year out right but my mortagage company won't help me.....

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answers from Washington DC on

I agree with the others, do not trust flyers or letters in the mail. Anytime you get anything that is "too good to be true" it probably is.

Go to to this link for help on refinancing (Hope for Homeowners program):

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answers from Charlottesville on

Believe me I understand what you are going through, but do not respond to that letter you got in the mail. It is not from the government. What you need to do it not take no for an answer from your bank. You need to go over the head of the person in customer service who you originally spoke with and get to the point where you have a person dedicated to helping you restructure your loan. This takes persistence on your part. You need to call and request the name and address of the CEO, they have to give you this information - if the person on the phone refuses to give it to you, ask to speak to their supervisor, and continue asking until they give you the information. Once you have the name and address of the CEO, you need to sit down and write them a certified letter explaining your situation (be sure to include your loan number) and requesting a person to be assigned to your case, then mail it certified mail with a return receipt requested. This will insure that someone who can actually help you modify the terms of your loan will actually see it because a live person must sign for the letter AND it establishes a paper trail for you. Keep a copy of your letter. Chances are good that within about 10 days of the receipt of your letter you will hear from someone at that company who is willing and able to help you. It helps that your husband now has a job again, so be sure to mention that in your letter. Once the company contacts you, make sure to continue to write the company to maintain the paper trail. The first letter should thank the person for assistance and outline and confirm any agreement reached. Keep copies of all letters you send. If by some chance your loan company won't help you, you can always send a copy of any letters to your Senator and Congressional Representative in Washington, D.C. in order to enlist their help in this matter.
I have been in your position and once we started our paper trail with our loan company with a certified letter, we got the help we needed.

1 mom found this helpful


answers from Chicago on

the government doesnt send flyers.....go to the websites provided below or call your mortgage company & ask for a modification....they will mail you some documents & ask you to send them in with other documentation like paystubs, bills, etc......dont do any business with any company that asks for money



answers from Richmond on

its not that your mortgage cant help you,its that they dont want to..get on the web and check out the federal trade commision then lodge a complaint against the mortgage company with the federal trade commision,tell them how many times you tried to contact the mortgage company and or the bank and was put off or refused assistance, tell them how far behind you are with the mortgage and other bills, how long you or your spouse was out of work and spare no details then wait a few days and i assure you that the mortgage company will contact you and suddenly be willing to sit down and work with you
K. h.



answers from Washington DC on

We are in the final steps of modifying our mortgage. I began by answering one of those flyers that come in the mail. I investigated further and discovered that we were going to have to pay upwards of $3000. I spoke to our mortgage company and we began modification steps. no cost to us. I would keep on contacting your lender and check out government websites. I had some other problems with COBRA and the Dept. of Labor helped us out immediately. The thing is, you have to stay on top of it. Call daily, insist on speaking to the modification department, and don't give up. There is help, don't give up!!



answers from Washington DC on

As hard as it is you need to speak to the lender. If the person who answers won't help, speak to a supervisor. I guarantee it won't be easy though. Have all info handy such as reason for modification, how much $ your hubby now makes what you can reasonaly afford to pay, etc. It really is in their best interest to have someone in the house as it protects the values of other houses on the street and they lose a lot by foreclosing. Also, check out the gov'ts Hope Now Alliance website, . Good luck and i hope you get back on your feet soon. And like others said I wouldn't trust a flier that comes to you and avoid anything that asks you for money upfront.



answers from Indianapolis on

Your best bet, to really understand your options, is probably to speak with a real estate expert, mortgage broker, or attorney.

I don't have experience with the US Govt. Relief Program, but I would think the bank would want to do anything possible to avoid taking possession of your loan and your house.

There are a lot of companies out there who don't have your best interest in mind which is why I'd personally seek the advice of someone who could provide a little more understanding of the situation and work to help you find the best resolution.

Good luck! I hope you are able to resolve everything quickly.



answers from Norfolk on

you can go to the web site, and it can give you information about if you are eligbile for assistance. You may also want to a credit counsler as they may request that you do this if you want to refinance. I know what you are going through. It is alot to understand and it may take awhile. It took us 8 monthes to finnaly get approved for our loan modification. It was difficult but worth it. I hope this helps and that you canm get answers. I think the mortgage compaanies have to work with you aslong as you meet the criteria for it. Good Luck


answers from Washington DC on

i agree with serena, go up the food chain, and if you get stalled, get a name and address of the CEO. they MUST provide you with this. then write a clear succint letter (not too long) that lays out your situation, mail it receipt requested, AND send copies to your state and federal reps and put their names on the BCC on the one going to your mortgage company. when they see that your reps (you know, those guys we've elected to DO something) the bank will suddenly find solutions that were oh so accidentally overlooked before.
don't take no for an answer.

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