Any homeowners here?

[mannyb18b]

Just wondering how many people have a mortgage. And if the economic crash has effected them, and if they are upside down in their house.

and if you ARE upside in your house. You should be aware that banks are more willing than ever for mitigation. I dropped numerous clients entire principle balance to make an easier affordable monthly payment, and greatest of all...YOU DON'T LOSE YOUR HOME.

Click to read more...

 

[djman37 5,000+ posts]

Just wondering how many people have a mortgage. And if the economic crash has effected them, and if they are upside down in their house.
and if you ARE upside in your house. You should be aware that banks are more willing than ever for mitigation. I dropped numerous clients entire principle balance to make an easier affordable monthly payment, and greatest of all...YOU DON'T LOSE YOUR HOME.

I own a home and am not behind. What could I do in Texas to get a reduction?

 

[CRXBMPN 5,000+ posts]

me and my fiance are trying to buy a house, its a bit difficult lol, but the person who has the mortage before us just foreclosed to the lender that we are going through (renting right now) and he is willing to work with us... we may play some hardball and make a lesser offer or walk away and find a place closer to our jobs. If that doesnt work and we have to move then oh well the guy is out a sale and has some overhead to worry about.

 

[azimuth 5,000+ posts]

alot of people that i know, that are in danger of losing thier homes, couldn't afford it in the first place. ARM loans ftl. what kind of interest rate are you talking?

 

[crunktimes.com 5,000+ posts]

yo yo yo mannyb flipping cribs now???!?!

 

[kraco 10+ year member]

****, lets all play poor and get our balance reduced.

 

[Banana Balls 5,000+ posts]

yo yo yo mannyb flipping cribs now???!?!

Werd son. Don't you know that mortgage brokers higher kids now? Its hard times America right now.

 

[Brock 5,000+ posts]

paid for, so no.

 

[mannyb18b]

I own a home and am not behind. What could I do in Texas to get a reduction?

Nothing. You are not behind so banks are not worried about you or willing to lose money just so you can go to the casino's every month //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

 

[_DjScrew_ 5,000+ posts]

Werd son. Don't you know that mortgage brokers higher kids now? Its hard times America right now.

//content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif hire?

 

[Eugenics 5,000+ posts]

ahahahhahaha

 

[mannyb18b]

****, lets all play poor and get our balance reduced.

It's a bit more detailed than that..but ultimately it's banks giving the borrower a chance to explain why they are having problems with their payment ( ARM just adjusted and they can't afford the new payment, or maybe even just some personal problems) they do this with a "hardship letter". And if you have mortgage late's you are a prime candidate

 

[mannyb18b]

Werd son. Don't you know that mortgage brokers higher kids now? Its hard times America right now.

Ha, they do hire people that can spell though.

 

[Eugenics 5,000+ posts]

and people that can lie.

 

[mannyb18b]

alot of people that i know, that are in danger of losing thier homes, couldn't afford it in the first place. ARM loans ftl. what kind of interest rate are you talking?

Yes ARM loans FTL. But your friends have a chance at saving their home if they are actually planning on staying in that house.

Say for instance you were in a 5 year arm and your rate just adjusted. It was too much money, and you were late on the last two payments. And on top of all this, the market value of your home just dropped 200,000 dollars, so you owe more than your house is worth. It's possible to get the bank to drop your principle balance to make your monthly payments work for you, so you don't lose your house, and the bank doesn't get pennies on the dollar. This is done by getting into a program like a 50 year fixed loan at 5%, your going to be paying for a longer period of time, but now you can afford your payments and little Johnny can stay going to his school //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif