Comments on: Bush Paulson Freeze: Adjustable Loan Modifications are a flop http://www.homesalerelief.com/blog/bush-paulson-freeze-adjustable-loan-modifications-are-a-flop/ Avoid foreclosure - Keep your home and good credit - and avoid the sharks Wed, 10 Mar 2010 07:09:01 +0000 http://wordpress.org/?v=2.3 By: admin http://www.homesalerelief.com/blog/bush-paulson-freeze-adjustable-loan-modifications-are-a-flop/#comment-34 admin Fri, 21 Dec 2007 13:54:53 +0000 http://www.homesalerelief.com/blog/bush-paulson-freeze-adjustable-loan-modifications-are-a-flop/#comment-34 Dana, did you join my list? You should join...you can do that at http://www.MortgageReliefFormula.com Okay, so if you are getting your first mortgage worked on, congratulations for working on that problem instead of doing what most folks do which is to ignore it until it's too late. I'd absolutely work on the second mortgage too. You need to present things to the lender honestly but in a way that shows the situation as dire as it is. Get them to cut you some real slack. And make sure you can afford even modified payments, or else you are better off selling now if you are even thinking about it. regards --Richard Dana, did you join my list? You should join…you can do that at http://www.MortgageReliefFormula.com

Okay, so if you are getting your first mortgage worked on, congratulations for working on that problem instead of doing what most folks do which is to ignore it until it’s too late.

I’d absolutely work on the second mortgage too. You need to present things to the lender honestly but in a way that shows the situation as dire as it is. Get them to cut you some real slack. And make sure you can afford even modified payments, or else you are better off selling now if you are even thinking about it.

regards

–Richard

]]> By: Dana http://www.homesalerelief.com/blog/bush-paulson-freeze-adjustable-loan-modifications-are-a-flop/#comment-33 Dana Fri, 21 Dec 2007 08:12:51 +0000 http://www.homesalerelief.com/blog/bush-paulson-freeze-adjustable-loan-modifications-are-a-flop/#comment-33 I'm in the process of modifying my first mortgage with Chase. Should I also modify my second mortgage? My second mortgage with HSBC is $681.00 a month it is a fixed mortgage. The first mortgage is with Chase it is slowly drowning us. We started the modification application with Chase back in September and we're still waiting for an answer. The first mortgage was at $1484.00 a month up until August 2007 now it is $2700.00 and is schedule to increase again in Feb 2008. We are so stressing out and short on money that I'm this close to giving the house back. I had one late with HSBC and found myself in a situation where I could not refinance because of the one late on my credit. We have a lot of equity in are home and we were told the house is worth about $540.000 but we bought it for $420.000 back in June 2005. If you have any advice please share it with us. Thank you, Dana email address: nightsunshine65@yahoo.com I’m in the process of modifying my first mortgage with Chase. Should I also modify my second mortgage? My second mortgage with HSBC is $681.00 a month it is a fixed mortgage. The first mortgage is with Chase it is slowly drowning us. We started the modification application with Chase back in September and we’re still waiting for an answer. The first mortgage was at $1484.00 a month up until August 2007 now it is $2700.00 and is schedule to increase again in Feb 2008. We are so stressing out and short on money that I’m this close to giving the house back. I had one late with HSBC and found myself in a situation where I could not refinance because of the one late on my credit. We have a lot of equity in are home and we were told the house is worth about $540.000 but we bought it for $420.000 back in June 2005. If you have any advice please share it with us.

Thank you,

Dana

email address: nightsunshine65@yahoo.com

]]>