Comments on: HAMP Update – New Program Offers Borrowers Foreclosure Alternatives http://www.truthinforeclosure.com/hamp-update-%e2%80%93-new-program-offers-borrowers-foreclosure-alternatives Sun, 22 Aug 2010 22:39:10 +0000 http://wordpress.org/?v= hourly 1 By: Todd http://www.truthinforeclosure.com/hamp-update-%e2%80%93-new-program-offers-borrowers-foreclosure-alternatives#comment-1114 Todd Fri, 22 Jan 2010 17:15:16 +0000 http://www.truthinforeclosure.com/?p=1645#comment-1114 You can try some of the legal defenses (check out the legal section of the site). This might delay the sale enough to get you back on your feet. You could also talk to a HUD Housing Counselor or call HOPE Now at 888-995-HOPE and see if they recommend anything. If none of those options will work, I'd recommend saving whatever you can and preparing to move out. Find out when the sherriff's sale is and then move out just ahead of it. Start looking for an apartment or house to live in now and see what they'll require for deposit, first month's rent, etc. Hope for the best and plan for the worst! You can try some of the legal defenses (check out the legal section of the site). This might delay the sale enough to get you back on your feet. You could also talk to a HUD Housing Counselor or call HOPE Now at 888-995-HOPE and see if they recommend anything.

If none of those options will work, I’d recommend saving whatever you can and preparing to move out. Find out when the sherriff’s sale is and then move out just ahead of it. Start looking for an apartment or house to live in now and see what they’ll require for deposit, first month’s rent, etc.

Hope for the best and plan for the worst!

]]> By: Todd http://www.truthinforeclosure.com/hamp-update-%e2%80%93-new-program-offers-borrowers-foreclosure-alternatives#comment-1036 Todd Mon, 11 Jan 2010 17:16:36 +0000 http://www.truthinforeclosure.com/?p=1645#comment-1036 The first thing I'd recommend is trying to get your servicer to provide you with all the information they used when they decided you didn't qualify. They often use old or incorrect information. If this is the case or your situation has changed substantially since you first applied, you can appeal the decision based on these facts. It may be an uphill battle and you may need an attorney to do it, but it is possible. If the info they used was correct and your position hasn't changed substantially, I'd recommend saving every penny you can (including your mortgage payments if you're still making them) and prepare to move out. Find out when they expect to finish the foreclosure action (assuming it's already started) and how long it takes in your state to evict after a foreclosure sale. Then plan your move just before they evict you. This will hopefully give you several months of house payments you can use to get started in the new place. If you're thinking about filing bankruptcy, it will slow the foreclosure down, but it's unlikely to stop it unless you can afford the bankruptcy payments. You might talk to the HopeNow coalition or to a HUD Housing Counselor to see if they come up with any other options. The first thing I’d recommend is trying to get your servicer to provide you with all the information they used when they decided you didn’t qualify. They often use old or incorrect information. If this is the case or your situation has changed substantially since you first applied, you can appeal the decision based on these facts. It may be an uphill battle and you may need an attorney to do it, but it is possible.

If the info they used was correct and your position hasn’t changed substantially, I’d recommend saving every penny you can (including your mortgage payments if you’re still making them) and prepare to move out. Find out when they expect to finish the foreclosure action (assuming it’s already started) and how long it takes in your state to evict after a foreclosure sale. Then plan your move just before they evict you. This will hopefully give you several months of house payments you can use to get started in the new place.

If you’re thinking about filing bankruptcy, it will slow the foreclosure down, but it’s unlikely to stop it unless you can afford the bankruptcy payments.

You might talk to the HopeNow coalition or to a HUD Housing Counselor to see if they come up with any other options.

]]> By: Rhonda Tolbert http://www.truthinforeclosure.com/hamp-update-%e2%80%93-new-program-offers-borrowers-foreclosure-alternatives#comment-1006 Rhonda Tolbert Wed, 06 Jan 2010 17:03:44 +0000 http://www.truthinforeclosure.com/?p=1645#comment-1006 My Modification loan has been denied. Do you have any other choices? My Modification loan has been denied. Do you have any other choices?

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