How do you get your mortgage company to negotiate?
Jul.31, 2009 in
Mortgage
We are in Chapter 11 Bankruptcy and do pay that every month, but am 4 months behind on mortage. I just want a reduced payment, maybe over 40 years, not 30 and at a lower rate, but my mortgage company (Countrywide) will nottalk to us. Please help!
July 31st, 2009 at 10:16 pm
40 year mortgages are dead. They were a bad idea when offered and are a worse idea now. Sounds like you need to sell your home. You obviously cannot afford it. Not sure what got you into your bankruptcy mess, but even after the forgiven debt if you can’t afford to make mortgage payments, you can’t afford this house. They have no reason to negotiate as soon they will own your home.
July 31st, 2009 at 10:16 pm
I’m not sure but maybe you can search and look into this:
In my local newspaper there was an article that said, "foreclosures are illegal" I can’t find the paper becasue my son thinks he already through it away. But it’s something about a loop hole that all mortage companys has made a BIG mistake and a real estate lawyer and other people are trying to get the word out!
Best Wishes!
July 31st, 2009 at 10:16 pm
40 yr mortgage, doesnt mean it will be less.
Countrywide is Bank Of America now. Have you tried other mortgage companies (Wells Fargo, Chase, City National Bank), try an independent mortgage company. If I was you, I would go into the banks and set down with someone. Maybe they can steer you the right way.
July 31st, 2009 at 10:16 pm
Go to http://www. naca.com…