Tx homeowner needs help w/4closure!

Posted by E.M. Ray on February 12, 2003 at 02:41:23:

*Foreclosure initiation has begun on my Denton County,
TX home.
*Current info. from Loss Mitigation/Homeowners
Assistance Dept. is "File, Still in Review!" [Been in
review for 2 mos. & long enough to receive
foreclosure papers.]
*March '03 reinstatement amount will be = $15,000.
*Mortgage pymnt. now over 40%gross [income loss since
house purchase]-should we request from lender a
preforeclosure sale or ask for a deed-in-lieu?
*[Selling in new development will be difficult-
competing w/builders incentives, etc., blt. 2002 &
appraisal over purchased price.]
*Can we find someone to do a short sale or to keep
our credit in tact, should we shoot for a repayment
or modification, budget, & then list house?
Much appreciation for any info, EMRay

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Comments:
: *Foreclosure initiation has begun on my Denton County,
:  TX home.
: *Current info. from Loss Mitigation/Homeowners  
:  Assistance Dept. is "File, Still in Review!" [Been in
:  review for 2 mos. & long enough to receive
:  foreclosure papers.]
: *March '03 reinstatement amount will be =  $15,000.
: *Mortgage pymnt. now over 40%gross [income loss since  
:  house purchase]-should we request from lender a  
:  preforeclosure sale or ask for a deed-in-lieu?  
: *[Selling in new development will be difficult-  
:  competing w/builders incentives, etc., blt. 2002 &   
:  appraisal over purchased price.]
: *Can we find someone to do a short sale or to keep  
:  our credit in tact, should we shoot for a repayment  
:  or modification, budget, & then list house?
:        Much appreciation for any info, EMRay


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