Is there help for people facing foreclosure when they DON’T have a variable interest rate?
by Mortgage Rates on Friday, September 17th, 2010 | 3 Comments
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This is not true about only people with adjustable rate mortgages are being redone.
You have taken precautions that others would not to reduce your monthly expenses.
You should call your lender, You would want to speak with someone in the Lost Mitigation Department outline to this person the current financial situation you and your family are currently in. Make sure you are speaking with a person that can make a decision about modifying your mortgage and the requirements necessary to do so.
Ask this person to send you a mortgage loan modification package. You should be able to complete this application, yourself.
A few home owners go to a loan modification company for assistance. If you utilize a mortgage loan modification company they will charge you a fee for their services. Keep in mind that you will be pay them no matter the outcome.
I hope this has been of some benefit to you, good luck.
“FIGHT ON”
A good shot is to talk to your bank about “Loan Modification” although you don’t have a variable rate mortgage. More likely they are willing to talk to you since you are now behind. They probably wanted proofs about your hardship. Just think about this: with the wave of foreclosure hit the market, your bank would rather give you a lower interest rate than to let you foreclose your home. Lots of luck. Merry Christmas!
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