Re: Help!!!
Posted by Mark Elkins on December 02, 2008 at 08:52:35:
In Reply to: Re: Help!!!
Posted by NJD on December 01, 2008 at 10:58:32: NJD Is correct and makes some excellent points.
If you have already asked the mortgage coming for a modification and have not yet heard anything, it may be because the mortgage company is waiting to see how the dust settles with the new presidential administration. Washington has promised some great changes to the mortgage market, and these may positively affect your ability to get a modification from the bank. I recommend sitting tight and keeping in touch with the mortgage company. Give them a call every other week or so to make sure that you're still in the process of having a modification considered. Mortgage companies are so overwhelmed with all the modification paperwork that they get today it would not be unusual for them to lose it or need additional information they didn't request in the first place.
If ultimately you have decided that divorce is the best for you and your husband you have many alternatives to foreclosure. In the near term keep the mortgage current by splitting it with your estranged husband. By making sure the mortgage is current, you will preserve all of the options available to you and come out of the divorce with better credit. If you need to start fresh on your own, this will greatly help you. Ask your attorney if he knows somebody who might be willing to lie your home as an investment. Frequently the attorney will know somebody, which will make it much easier for you to deal with.
Mark Elkins is a real estate investor and the host of the Profit on the House radio program which can be heard Mondays at noon Central Time on WBIG radio 1280am in Chicago. The program may be heard throughout the rest of the country at the station's website WBIG1280.com. For more information on foreclosure see www.stopforeclosureanswer.com
Follow Ups:
- Re: Help!!! - Mark Elkins 11:54:44 12/02/08
(0)
