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darcelsmom
Joined: 24 Oct 2006
Posts: 2
|  Posted: Tue Oct 24, 2006 6:49 am Post subject: SAVE MY HOME |  |
| I reside in Ohio. I currently owe $93,390 on my first mortgage. My home is worth about $120,000 and is due to foreclose in 4/2007.
The loan company did a modification on the second loan and the interest rate went from 11.375% to 7%. With the first loan, I guess it was not that easy. I lost my job a few months ago and my husband has been trying to make ends meet on his income alone. As of right now, I have no income. My last job is saying that I quit and I that is the reason I am not getting unemployment. I have tried to get welfare and because of his income, we don't receive any money.
If there is some kind of loan modification that we could do to save our home and make the payments more affordable, then PLEASE, PLEASE share with me!!
Thanks
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| | Back to top | |  | The Mortgage-Pro
Site Admin
Joined: 19 Jan 2005
Posts: 2248
| | Posted: Wed Oct 25, 2006 11:23 pm Post subject: | |
| You do not have enough equity for any foreclosure bailout loan which we know of. If I were you I, would work out mortgage forbearance with your current mortgage lender.
Please keep us in mind in the future!
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| | Back to top | | | darcelsmom
Joined: 24 Oct 2006
Posts: 2
| | Posted: Thu Oct 26, 2006 12:45 am Post subject: | |
| What exactly is a mortgage forbearance?
And thanks for the responce.
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| | Back to top | | | The Mortgage-Pro
Site Admin
Joined: 19 Jan 2005
Posts: 2248
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