What are the terms typically? Would it work if someone lost their job, got a new job but took a 50% gross salary cut and is struggling to stay on top? Is it a simple as calling the company and asking? Will crying help? What if it's a bank that just recently failed?

Any other advice would be great.

12/12/2008 9:24:36 PM

you bought a house?

12/12/2008 10:22:48 PM

Depends on a gazllion factors, but yes the important thing is to talk to them, you need the loss mitigation department.

Also if you are less than three months late they will probably not do anything, they will just wait to see if you fall further behind or let you try to dig out on your own.

I wonder why so many homes are falling in to foreclosure.

12/12/2008 11:05:56 PM

Quote :

"Will crying help?"

female mind at work

12/12/2008 11:27:40 PM

crying definitely helps anytime you are involved in a business situation

call the mortgage company

12/13/2008 11:04:35 AM

^^LOL

12/13/2008 2:35:12 PM

IF THEY TRY TO FORECLOSE JUST CALL NACA

WWW.NACA.COM

THEN IN THE MEAN TIME WRITE LETTERS TO EVERY ELECTED OFFICIAL YOU ARE A CONSITUENT OF (BOTH STATE AND LOCAL)

THEN IN THE MEAN TIME KEEP CALLING LOSS MITIGATIONS

ALSO WRITE ANY OTHER ELECTED OFFICIAL THAT YOU ARE NOT A CONSITUENT OF BUT REPRESENTS YOUR STATE OR OTHERWISE

MAKE SURE YOU EXPLAIN YOU HAVE CONTACTED THE LENDER FOR A WORKOUT AND THEY REFUSE TO RESPOND OR NEGOTIATE, THEN CALL NACA AGAIN AND GET THE CONTACT FOR THE EXECUTIVES OF YOUR BAKN OR LOAN SERVICER.

MAKE SURE IN ALL OF YOUR LETTERS THAT YOU POINT OUT THAT YOUR BANK HAS RECEIVE FEDERAL BAILOUT FUNDS BUT IS NOT WORKING FOR A SOLUTION ON YOUR LOAN AND THAT THEY WILL SUFFER A 40% OR MORE LTV LOSS IF THE FORECLOSURE GOES THROUGH AND THAT THE BANKS SHOULD NOT BE GETTING BAILOUT MONEY IF THEY ARE NOT PARTICIPATING IN LOSS MITIGATION PROCEDURES.

KEEP DOING A FULL COURT PRESS HARASSMENT AND PR CAMPAIGN UNTIL YOU GET SOME HELP, IF YOU DONT YOU WILL JUST BE LETTING THEM STEAMROLL YOU AND THEN BEG UNCLE SAM FOR MONEY TO COVER THEIR LOSSES.

12/14/2008 2:09:45 AM