Re: Help What would you do?

Posted by ruth on March 25, 2007 at 08:05:16:

In Reply to: Help What would you do? posted by Kathy on March 24, 2007 at 05:37:01:

Kathy,

Go back through your loan documents, look for what guidlines were used. Fannie Mae, Freddy Mac, FHA, etc.
Call and ask what are your rights.

There are companies that buy bad loans.
Example, Litton Home Loans.

Once a loan has gone into default, as you know, your playing by new rules.

Consumers need to remember the contract they sign for, is to protect the lender. They have to disclose what the law requires them to say.

The only way to beat this game, is learn to do it better the bank.

The answer you seek is at your finger tips.
Call your state Department of Finance, Local Social Service, Find out what guidelines were used to under write the loan. Also contact The National Foundation of Credit Counsoling, this is a federal program that is very low cost or free. (depending on income)

I want to stress for you to use government agencies.

Ruth

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