Comments on: Create Your Own Hope Rather Than Putting It In Your Servicer http://www.truthinforeclosure.com/creating-hope Sun, 22 Aug 2010 22:39:10 +0000 http://wordpress.org/?v=abc hourly 1 By: poorblogger http://www.truthinforeclosure.com/creating-hope#comment-855 poorblogger Sun, 23 Aug 2009 03:35:19 +0000 http://www.truthinforeclosure.com/?p=1577#comment-855 Wow.. It is such a good tips.. I've own a house and car.. But I just using auto debit.. I don't calculated.. Maybe it much safer and easier.. Wow.. It is such a good tips..
I’ve own a house and car.. But I just using auto debit..
I don’t calculated.. Maybe it much safer and easier..

]]> By: Todd Temaat http://www.truthinforeclosure.com/creating-hope#comment-848 Todd Temaat Tue, 18 Aug 2009 02:36:13 +0000 http://www.truthinforeclosure.com/?p=1577#comment-848 So you take no responsibility it at all for accepting the terms of a bad loan? None? Come on...it's not solely the bank's fault. Buyer beware doesn't apply any more? I'm NOT saying you weren't taken advantage of...maybe you were...and I know there were definitely bad loans and predatory loans and people put into different loans than they signed papers for. But in the most cases, people understood what at least the basics of what they were getting into and accepted the terms because they: 1. Wanted to put the least possible amount down. 2. Wanted the absolute lowest payment possible. 3. Were certain the value of their home would only increase in the near future. 4. Were certain they'd be able to refinance out of a bad loan before the higher interest rates and payments began. At least I know that's the situation I was in when I bought my last home...which is why I'm in the middle of a short sale now! Maybe the best thing to do is walk away...if your lender won't mod your loan and you refuse to pay the payment you don't have any other choices. So you take no responsibility it at all for accepting the terms of a bad loan?

None? Come on…it’s not solely the bank’s fault. Buyer beware doesn’t apply any more?

I’m NOT saying you weren’t taken advantage of…maybe you were…and I know there were definitely bad loans and predatory loans and people put into different loans than they signed papers for.

But in the most cases, people understood what at least the basics of what they were getting into and accepted the terms because they:

1. Wanted to put the least possible amount down.

2. Wanted the absolute lowest payment possible.

3. Were certain the value of their home would only increase in the near future.

4. Were certain they’d be able to refinance out of a bad loan before the higher interest rates and payments began.

At least I know that’s the situation I was in when I bought my last home…which is why I’m in the middle of a short sale now!

Maybe the best thing to do is walk away…if your lender won’t mod your loan and you refuse to pay the payment you don’t have any other choices.

]]> By: Todd Temaat http://www.truthinforeclosure.com/creating-hope#comment-847 Todd Temaat Tue, 18 Aug 2009 02:22:38 +0000 http://www.truthinforeclosure.com/?p=1577#comment-847 Thanks for writing. Your house does need to have been on the market before the bank will consider a deed in lieu. Remember the bank is trying to minimize their losses...and you selling the house will be much less costly than taking it back from you and trying to sell it themselves. Hope it helps and sorry it took so long to respond. Thanks for writing. Your house does need to have been on the market before the bank will consider a deed in lieu. Remember the bank is trying to minimize their losses…and you selling the house will be much less costly than taking it back from you and trying to sell it themselves.

Hope it helps and sorry it took so long to respond.

]]> By: Sandra http://www.truthinforeclosure.com/creating-hope#comment-844 Sandra Thu, 06 Aug 2009 16:29:12 +0000 http://www.truthinforeclosure.com/?p=1577#comment-844 You note in your article, "Not to mention way too many people without true hardships trying to get the deal of a lifetime (which they’ll never get) clogging up the pipeline for those that truly need the help." Perhaps there are many of you that think that just because people can afford their homes that the banks shouldn't work with them. We were very responsible in purchasing a home that we could afford. However, there were new loan products at that time that were terrible and the predatory lenders did not educate us on the details of the loan. Our home is now worth 50% of our loan amount (we're upside down in the loan $200,000) therefore, we can't get out of our loan. Why would we continue to pay on a loan for something that is worth nothing? The loan is so bad that it can fluctuate from month to month and the 1st can go up to over 8% and the 2nd to over 12%. We have asked the mortgage company to simply convert the loan to a 30 year fixed in order to get out of this loan, but they won't do it. They leave us no choice but to let them forclose. We would be paying on this thing until we retire only to break even with what the home is worth. So, there are many of us out here that actually can afford our homes, but refuse to be held captive by the mortgage companies and their unwillingness to correct the wrongs of their predatory lending practices. You note in your article, “Not to mention way too many people without true hardships trying to get the deal of a lifetime (which they’ll never get) clogging up the pipeline for those that truly need the help.”

Perhaps there are many of you that think that just because people can afford their homes that the banks shouldn’t work with them. We were very responsible in purchasing a home that we could afford. However, there were new loan products at that time that were terrible and the predatory lenders did not educate us on the details of the loan. Our home is now worth 50% of our loan amount (we’re upside down in the loan $200,000) therefore, we can’t get out of our loan. Why would we continue to pay on a loan for something that is worth nothing? The loan is so bad that it can fluctuate from month to month and the 1st can go up to over 8% and the 2nd to over 12%. We have asked the mortgage company to simply convert the loan to a 30 year fixed in order to get out of this loan, but they won’t do it. They leave us no choice but to let them forclose. We would be paying on this thing until we retire only to break even with what the home is worth.

So, there are many of us out here that actually can afford our homes, but refuse to be held captive by the mortgage companies and their unwillingness to correct the wrongs of their predatory lending practices.

]]> By: Ricardo http://www.truthinforeclosure.com/creating-hope#comment-843 Ricardo Thu, 06 Aug 2009 15:46:12 +0000 http://www.truthinforeclosure.com/?p=1577#comment-843 It does not make any sense, by either the servicer or investor, when one is in an upside down mortgage, not in the thousands, but in the hundred thousands, and the investor would rather foreclose!! Where is the logic?? It does not make any sense, by either the servicer or investor, when one is in an upside down mortgage, not in the thousands, but in the hundred thousands, and the investor would rather foreclose!!
Where is the logic??

]]> By: Jessica http://www.truthinforeclosure.com/creating-hope#comment-842 Jessica Thu, 06 Aug 2009 12:49:41 +0000 http://www.truthinforeclosure.com/?p=1577#comment-842 Does your house have to have been on the market before the lender will consider a deed in leiu? I ask b/c HSBC has denied my loan mod, and told me that my only other option was short sale or deed in lieu. Why go thru the hassle of trying to sell if they are just going to take the keys back instead? Just wanted your thoughts. Does your house have to have been on the market before the lender will consider a deed in leiu? I ask b/c HSBC has denied my loan mod, and told me that my only other option was short sale or deed in lieu. Why go thru the hassle of trying to sell if they are just going to take the keys back instead? Just wanted your thoughts.

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