http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/ Avoid Foreclosure Monroe Florida Wed, 14 Jul 2010 01:25:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-220 butch Sun, 29 Nov 2009 05:43:53 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-220 The odds of them lowering your payment if you dont talk to them are zero. You have nothing to lose, get off the tube and go talk to them. The odds of them lowering your payment if you dont talk to them are zero.
You have nothing to lose, get off the tube and go talk to them.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-219 GuyNextD Sun, 29 Nov 2009 03:11:15 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-219 $3100 ? My friend do you live in a palace ? I won't give you the old "why don't you live withing your means" saying. But you should seriously think about it. You can refinance your Mortgage loan with the bank or look for a better lender ready to take on your mortgage and work it with you. Or you can sell the house and take a small loss that's better on the long run than foreclosure or extreme debt. Or you can rent a room or a floor of your house to make up for it. Just remember the Financial institutions are always ready to work things out with you as long as they get their payments. $3100 ? My friend do you live in a palace ?
I won’t give you the old “why don’t you live withing your means” saying. But you should seriously think about it.
You can refinance your Mortgage loan with the bank or look for a better lender ready to take on your mortgage and work it with you.
Or you can sell the house and take a small loss that’s better on the long run than foreclosure or extreme debt.
Or you can rent a room or a floor of your house to make up for it.
Just remember the Financial institutions are always ready to work things out with you as long as they get their payments.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-218 lifesajo Sat, 28 Nov 2009 20:31:06 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-218 You can always ask - but I'm not sure that they will. You can always ask – but I’m not sure that they will.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-217 aunty m Sat, 28 Nov 2009 19:22:32 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-217 YOU SHOULD GO AND DISCUSS YOUR SITUATION WITH THE BANK,THEY WILL BE ABLE TO TELL YOU YOUR BEST OPTIONS. YOU SHOULD GO AND DISCUSS YOUR SITUATION WITH THE BANK,THEY WILL BE ABLE TO TELL YOU YOUR BEST OPTIONS.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-216 bcm_s19 Sat, 28 Nov 2009 17:37:07 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-216 Given your circumstances, a bank is unlikely to work with you. It just puts off the inevitable, which ends up costing them more money in the long run. Unfortunately they will look at it as a business decision. The best thing you can do is see if you can sell the house to one of those people who advertise that they buy ugly homes. (search "We buy ugly Homes") If they will pay you more than you owe, then you might be ok. Otherwise, then you are probably going to be in trouble sooner than later with your lender. One thing you could try is renting out a room in the house to generate some money, but honestly with $2000 in income you will be hard pressed to meet a $3100 mortgage once you factor in living expenses. If you have owned the home for more than 4-5 years you should be ok as far as equity. Given your circumstances, a bank is unlikely to work with you. It just puts off the inevitable, which ends up costing them more money in the long run. Unfortunately they will look at it as a business decision.
The best thing you can do is see if you can sell the house to one of those people who advertise that they buy ugly homes. (search “We buy ugly Homes”)
If they will pay you more than you owe, then you might be ok. Otherwise, then you are probably going to be in trouble sooner than later with your lender.
One thing you could try is renting out a room in the house to generate some money, but honestly with $2000 in income you will be hard pressed to meet a $3100 mortgage once you factor in living expenses.
If you have owned the home for more than 4-5 years you should be ok as far as equity.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-215 thelasth Sat, 28 Nov 2009 14:36:03 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-215 It looks like below article addresses the question you have .. Mortgage crisis? Act now to avoid foreclosure Source: Fred Yager, ConsumerAffairs.Com Are you one of the millions of homeowners who went for one of those enticing variable or adjustable rate mortgages only to see your monthly payment, which started off low, continuing to rise, escalating to the point where it’s harder and harder, or even impossible, for you to keep up your payments? Unfortunately, this is an all-too-common scenario being played out across America. According to the Mortgage Bankers Association (MBA), an estimated $1.5 trillion in adjustable rate mortgages (ARM) are going to see another increase in interest rates this year alone. The MBA predicts this will prompt homeowners to refinance about $700 billion worth of those adjustable rate mortgages. Read Full Article:http://www.loanmadeeasy.org/nj.php?DLINK… It looks like below article addresses the question you have ..
Mortgage crisis? Act now to avoid foreclosure
Source: Fred Yager, ConsumerAffairs.Com
Are you one of the millions of homeowners who went for one of those enticing variable or adjustable rate mortgages only to see your monthly payment, which started off low, continuing to rise, escalating to the point where it’s harder and harder, or even impossible, for you to keep up your payments?
Unfortunately, this is an all-too-common scenario being played out across America.
According to the Mortgage Bankers Association (MBA), an estimated $1.5 trillion in adjustable rate mortgages (ARM) are going to see another increase in interest rates this year alone. The MBA predicts this will prompt homeowners to refinance about $700 billion worth of those adjustable rate mortgages.
Read Full Article:http://www.loanmadeeasy.org/nj.php?DLINK…

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-214 wendy_da Sat, 28 Nov 2009 12:00:07 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-214 I'm sure your bank with be willing to work with you and help you. I hope you get to keep it or move to a less expensive place. I’m sure your bank with be willing to work with you and help you. I hope you get to keep it or move to a less expensive place.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-213 pooptani Sat, 28 Nov 2009 11:59:50 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-213 Yes this is called REFINANCING. There are hundreds or thousands of websites you can view for a start, but try going to a mortgage company in person. You do not have to refi through a bank, there are private companies who will secure the loan for you as well. Yes this is called REFINANCING. There are hundreds or thousands of websites you can view for a start, but try going to a mortgage company in person. You do not have to refi through a bank, there are private companies who will secure the loan for you as well.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-212 skcs69 Sat, 28 Nov 2009 06:33:44 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-212 yes they wii, or go another babk. yes they wii, or go another babk.

]]> http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/comment-page-1/#comment-211 David V Sat, 28 Nov 2009 06:04:46 +0000 http://avoidforeclosuremonroe.com/252/is-it-possible-to-talk-to-my-bank-and-ask-for-a-lower-payment-in-order-to-avoid-foreclosure/#comment-211 Yes, you can. You may have to refinance. And, you may have to take a new job. The thing to remember is that banks don't want to foreclose because they will almost certainly lose money on the deal. Your payments are over 150% of your income. That is an incredibly bad situation. You may want to look into bankruptcy. Many states will let one keep one's house during bankruptcy. As for selling the place, you may have to lower your asking price in order to sell it,. Another option may be to rent the house out. Yes, you can. You may have to refinance. And, you may have to take a new job. The thing to remember is that banks don’t want to foreclose because they will almost certainly lose money on the deal.
Your payments are over 150% of your income. That is an incredibly bad situation. You may want to look into bankruptcy. Many states will let one keep one’s house during bankruptcy.
As for selling the place, you may have to lower your asking price in order to sell it,.
Another option may be to rent the house out.

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