Loan options for bad credit
The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. We filed Chap payday loans denton tx 7 Bankruptcy in Dec 2013 and both loans have been charged off.
We are current on our 1st mortgage but have not paid our 2nd in 1 year.
We tried to get a settlement before (and during) the Chap 7 Bankruptcy but we were told we would have to wait until Chap 7 Bankruptcy was completed. I called to reach the settlement department so we could negotiate and they told me due to the new Regulation-X laws (effective Jan 2014) I could not speak with the settlement department and they would send a letter in the mail. I even spoke with the escalation department to confirm I could not speak with settlement department. I follow up to see what number they would agree to settle for and they would not give me a number but said I would get a letter in the mail. I received a letter today indicating that I have the option to reinstate the loan ( pay the total amount I owe in one lump sum by a specific date) and the next step would be to call and find out the amount I would need to send to reinstate. In no way would I reinstate the loan since it has already been discharged in Chap 7 Bankruptcy. My Chap 7 Bankruptcy lawyer specifically said to try and get a settlement. What is the next step to obtaining a settlement since they will not negotiate with me and are just trying to get me to reinstate. Should I just not make contact with them and see if they come around? Pay particular attention to the last part pertaining to bankruptees. I had my lawyer send a letter authorizing Chase to contact me back in October 2013. In January I had someone call about modification which I informed them I was not interested in.
They informed me that due need cash quick to the new Regulation X laws that I could not speak with the settlement department. I loan options for bad credit though that this was crazy since just last august before our chapter 7 I spoke with the settlement department and they said they would settle for 13K. At that time I did not have 13K and just starting the process of filing chapter 7. After probing a bit more they said I could send in a settlement offer but would also have to send in a written letter saying I would opt-out from all other options including modification in order to comply with regulation X.
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Im still underwater but there is equity after the first and they have threatened my with foreclosure but they have not set a sale date yet.
I havent paid in 12 months and I am also current on my first. They keep saying that they could just sell it and make more money after paying off the 1st mortgage than my offer. They want 30 percent and long term online loans all I have offered is 5 percent and thats all I can really afford. They pay day loan no credit check keep sending me loan mod financial small payday loans docs and I just dont send them back. Their offer of 30 percent was over the phone after my hardship email to chase executive offering the 5 percent. I wish I would have done this 2 or 3 years ago but just was not in the mindset to do this sort of thing. I think in your scenario parent loan you just have to think how much you like your home. What I find interesting is that your dang even on the value vs what you owe and financially it does not make sense for them to send it to auction unless you are grossly under valuing your home. For me im roughly the same behind to bring current but I owe about 60 k more than what zillow says its worth. The last BPO done which i still think is high im 140 upside down as a whole but after the first about 90k equity and that before what it would cost for chase to foreclose which the folks on here estimate to be about 40-50k. So you take that same 40-50k and at that to your home it just does not make sense. You have got me curious on what may happen in my scenario. I owe 295k between both loans, 157,000 on 2nd alone. What is the email to the executive team to see if they can help..
Manderik, tough situation to be in, your home is worth more, the executive team 800-853-8516 will not help you postpone the sale.
The strategy for settling your second does not work if you have substantial equity past your first.
It did not work for me even though all the long folks on the site said Chase wont foreclose. Im currently working with LoanModHelpCenter for a in house modification. I like where I live an have stabilized the situation with my family over the past two months. Even if nothing can be done from LoanModHelpCenter I still should be good for awhile. I owe 295k between both loans, 157,000 on 2nd alone. Folks who either ignored their 2nds or who thought no big deal, I will just cash it out are now in trouble - and, quite frankly, as an attny, I rolled my eyes each time I read how folks were simply doing nothing. If you cannot come up with the funds the lender wants there is nothing you can do to force it. Some have suggested filing a Chapter 13 which can help you save the home BUT (and assuming the property is your principal residence). You will not be cramming down or stripping off that 2nd mortgage since there is equity in loan options for bad credit the property well over what is owed to the 1st mortgage.
You will simply resume regular payments as though you were current and use the Chapter 13 Plan to bring the missed payments current over the next three to five years. I have said this a couple of times before but I am going to say it again.
Folks who either ignored their 2nds or who thought no big deal, I will just cash it out are now in trouble - and, quite frankly, as an attny, I rolled my eyes each time I read how folks were simply doing loan options for bad credit nothing. If you cannot come up with the funds the lender wants there is nothing you can do to force it. Some have suggested filing a Chapter 13 which can help you save the how do i get a loan with bad credit home BUT (and assuming the property is your principal residence). You will not be cramming down or stripping off that 2nd mortgage since there is equity in the property well over what is owed to the 1st mortgage. You will simply resume regular payments as though you were current and use the Chapter 13 Plan to bring the missed payments current over the next three to five years. My concern is that the reason they are not willing to start settlement negotiations with us is that Chase knows eventually the personal loan poor credit home worth more.
Personal loans for bad credit
In our case the home loan options for bad credit would need to rise another 60 K ( 10K to make us even and 50K for foreclosure costs) assuming I have an accurate appraisal.
Many of the forums suggest just waiting it out but I do worry that by delaying settlement that I might not get a settlement at all. I was debating on waiting another few months to offer this to them especially since it has been nearly impossible to speak to a settlement negotiator. Avoid them, contact them, get a lawyer to help loan options for bad credit settle? I do not like the idea of waiting unless you are willing to recognize that should no settlement be reached you are willing to walk away or spend the financial resources to save the home through a Chapter 13. Waiting means you may have spent that little nest egg and not have the bargaining chip in the future. On the other hand, if you milk the property for all it is worth by not paying the mortgage(s) and then walk away you will save a ton of money. Based on all the success stories I thought Chase would be willing to negotiate... Des, bases on your experience, without a Bk, will chase negotiate on the 120k they are asking for. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, san antonio payday loans or walk away legally from their underwater mortgages. Des, bases on your experience, without a Bk, will chase negotiate on the 120k they are asking for. I really cannot answer your question since that is not my area of expertise - negotiating outside of a bk. With or without a bk, what is the worst thing that can happen. There is no redemption period therefore, once that hammer falls and the bid price is paid, you will lose all strings to the property.