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After doing some research, it seems you can sell the house at any time so long as there is equity. The only issue you may have is if you have to sell your home for less than the full amount of your loan.

If Cat, Evan or Tom are monitoring, maybe they can chime since they know a whole lot more than me on this issue. I think it is HAMP, it says making home affordable and points to HAMP site for 2nd mortgage mod.. If lender exercise this option, lender shall give me notice of acceleration.

The notice saturday payday loans shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which I must pay all sums secured by the Mortgage.

With post mod I may have 10-20K equity but that is based on Zillow price.. If your principal forgiveness is given over a period of time, then you may not be able to sell prior to that without having to pay back all of the sums that were the original unpaid principal balance. If you are unclear on any of your documents, you may want to sit down with either a real estate attorney or a real estate broker to go over them with you. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or problem. 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. Please Read our Privacy Policy and Legal Disclaimer we will forgive a portion of outstanding principal equal to xxxxx. However, there could be income tax consequences, related to forgiveness...

As per above it seems once I sign the agreement I should never have to repay the forgiven balance even if I let say sell it after 3 months from signing the agreeement.

The paragraph below which is from the agreement is what really NOT clear to me and want to confirm whether it impose any restrictions on any selling.

If lender exercise this option, lender shall give me notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which I must pay all sums secured by the Mortgage.

Are there any general HAMP rules that applies to me even if NOT in my agreement? I guess any rule applies to my mortgage must be in the modification agreement?

You really need to take your documents to an attorney to review with you and ask your questions while they have the documents in hand and would be able to best assist you.

It is very difficult for us to comment or advise on excerpts of documents. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.


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Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem.

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.

Please Read our Privacy Policy and Legal Disclaimer You really need to take your documents to an attorney to review with you and ask your questions while they have the documents in hand and starter loans would be able to best assist you. It is very difficult for us to comment or advise on excerpts of documents.

I was able to discuss entire doc with the rep from bank and my close friends who both clarified that principal reduction is permanent upon modification right away and no waiting period. I assume with that general rules of HAMP as stated in makinghomeaffordable. I just signed the doc day before and in process with WF to permanently modify them. This forum has been greatly helpful in acquiring knowledge about this process... I was able to discuss entire doc with the rep from bank and my close friends who both clarified that principal reduction is permanent upon modification right away and no waiting period. I assume with that general rules of HAMP as stated in makinghomeaffordable. I just signed the doc day before and in process with WF to permanently modify them. This forum has been greatly helpful in acquiring knowledge about this process... I am so happy that you were able to find someone payday loans online direct lenders no credit check to go over the docs in detail with you, this is very important to understanding what it is that you are signing. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet.

You payday loans without direct deposit should contact your attorney to obtain advice with respect to any particular issue or problem. 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. Please Read our Privacy Policy and Legal Disclaimer Hello all. I was notified today that my final signed HAMP loan docs have been recieved and to contact customer service from now since my process is complete. Between my long battle with HAMP, several denials and the lengthy process in settling my second, I must say my MAIN source of guidance was this forum. For the last two years I was on this site on a daily basis educating myself by asking questions and learning from others.

For all of you who took the time to care and answer my starter loans questions, I thank you for your compassion and having a servants heart...

If theres anything I can do to pay it forward, I will. I am in litigation with WF right now and would like to compare fast easy payday loans congratulatory letters for my case.

Since 2007, the LoanSafe forums have helped millions of homeowners over short term loans for bad credit same day the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Is there anyone here that has advice or experience with the foreclosure process in Texas? I am several months behind and the servicer denied my Loss mitigation application. They said they would be sending me a letter of sale and then I would probably have a sale date in March. I starter loans want to keep my home and want to try to catch up on my back payments when I get back to work starting in February. I have read through some of the success stories on this site and I just hope I can be one of them too.

Is there anyone here that has advice or experience with the foreclosure process in Texas? I am several months behind and the servicer denied my Loss mitigation application.

They said they would be sending me a letter of sale and then I would probably have a sale date in March. I want to keep my home and want to try to catch up on my back payments when I get back to work starting in February. I have read through some of the success stories on this site and I just hope I can be one of them too. What was the reason they declined your loan modification request? Who is the servicer or bank that collects your payments?

Do you know if your loan is a Conventional, or FHA? She just said my file was being turned over to the legal department. First off -- you can stop the foreclosure at any time with a preventative chapter 7 or 13 bankruptcy, so keep that in mind. Did you fill out a modification packet and send it in, with a copy of bank statements and pay stubs and the like? They have to provide you with a reason, like insufficient income, investor denial, excessive forbearance, etc. Several years ago I was serviced through the Litton Loan and my mortgage has gone through several hands (Ocwen, GMAC) and ended up being serviced by 21st Mortgage corporation. I researched how to fill out the loss mit app before I sent it in. When I online cash loans no credit check asked about a modification or payment plan they just said no. I thought about the bankruptcy option and will use that as my last resort... Also, when I sent in the loss mitigation application, they did not require bank statements or pay stubs.

I included a monthly income and expenses but no official paperwork. The fact that your underwater should be very beneficial to you when asking for a loan modification. The loan will incur a significant loss, and all parties should want a better resolution. In fact, whenever you call, you should repeatedly mention that you are underwater on the loan.

I think you should call back in -- tell them your circumstances have changed, and demand that they mail you a complete modification packet. You want to be reconsidered for a loan mod, and you are not interested in losing the home. Thank you for sharing this information and advice with me. I am going to call today and demand a loan modification packet (I like that word demand) I will keep emphasizing that the mortgage is underwater and starter loans not a mobile home etc. I will update you once I get some feedback from them. In this particular case, I would demand the packet, and not accept No as an answer. While I feel like you might be able to fill out the paperwork yourself, there could be a lot of value in talking with a HUD Counselor or the HOPE Line. They can help walk through, and answer any questions you have once you get the packet. In some cases, they may be able to even point you towards a state assistance program as well. I would not recommend contacting a Loan Mod Company or some sort of law firm you see advertised. 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, or walk away legally from their underwater mortgages. This person has not been abusing you verbally, threatening to visit your home and brutalize you or a member of your family physically, or embarrassing you publicly, but they sure are taking up a lot of your time and life. This minor deposit has no bearing on your modification case. You are not permitted to just re-fax the one, missing document you are required to re-fax the 160 pages all over 500 cash loan again. Your documents are not reviewed timely, and according to the mortgage servicer, have become stale dated. I know that these are violations of several respective laws, but are these also grounds for a complaint with the CFPB as well? If not, what is the proper place to file these complaints? To date, they have sent me private documentation for four individuals that have nothing to do with me or this loan--different names, addresses, not even in the same state as me, account numbers, etc. 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, or walk away legally from their starter loans underwater mortgages. I stopped paying my second mortgage in 2010 but continued to pay the first. They also stated that I must provide financial information in order to submit any offers. Without bankruptcy protection, you are still liable for the debt.