I see it advertised on TV. Has anyone done it? Were you happy with your decision later? How will it affect my taxes?

My father recently passed away. He was recently approved for a reverse mortage for $250,000, but of course he didn’t get all of that at one time. They were sending him small amounts each time he would turn in his receipts of the home repairs he had completed. What i would like to know is, would the family have to see that the repairs were still done in order to get the money, or would we have to see the house to pay the bank back the money that he did receive already?

what are the advantages and disadvantages of a short sale vs. the advantages and disadvantages of a foreclosure???.. How can I negotiate with the bank the difference?? Do I need an attorney to negotiate the remaining difference with the bank???

Hello,

I am 60% in my loan modification process with BofA (freddie mac), and they are giving me a hard time saying: we need more income, or need to add a family member to the loan, which is NOT an option for me.

Is there anything I can do please help? I contacted a loan modification office and they charge $2-4k… I can’t afford that right now.

what can i do?

I was wondering if a 3rd party can really go to the bank with no credit check etc. and pay a low amount for cash on a property that is in or going into foreclosure. My landlord is letting the house go that route, and I wanted to know is it legal for a middle person to negotiate to get the house in a short sale and then sell it to me?

What will happen to the unpaid mortgage? Will it be added to the loan balance once the loan modification is over?
Also, if the house is in my name only, and we are also going based on my husband’s income will the lender add him to the loan?
Does a lender ever decrease a balance?

i got scammed and i’m really upset. I worked so hard to save the money to give it to them. I already reported Loss mitigation services to the FTC but i wanna do something about it. i want my momney back or at least some. should i file a lawsuit against them? if so, file it against who? they place is closed down now. or what should i do? who do i call or what legal action should i take? please please help with suggestions.

We are current on our payments, but it seems that the Wells Fargo would be more co-operative and give us a better loan modification if we are not current.

~~
artists out here making ‘promises’ to those such people that they are experts in ‘loan modification’.

I feel so sorry for people. The mother of a friend got behind on her mortgage payments (not sub-prime), her house went into foreclosure, she saw a bunch of sites promising that in this case - lawyers - could ‘work things out’ even if a person was 6 - 7 months behind.
humph
So she didn’t check these lawyers out ~~ other than that they really were lawyers ~~ went ahead and paid one of them $4,500.00 back in January, and the one she paid told her she wouldn’t have to pay anything to the mortgage company until they ‘worked it out’.

So now here we are in April; she can’t find the lawyer she gave the money to, the other lawyers say she “made the agreement wth him” and not themselves, and except that she has been saving her money, she is still behind. A check with the attorneys who are representing Chase Bank tells us that no one had ever answered the complaint in foreclosure, and that no one had ever contacted them regarding obtaining an extension to answer or to speak to someone there that may have been able to help.
And she isn’t the only one these things are happening to. The lawyer she dealt with has basically dusappeared, but a further check determined that he had taken people’s money in other states and then ‘disapepared’.

So please Obama !
The little people don’t have much of a voice. When you explain that peo[le can seek to re-finance their loans or otherwise modify them, make sure you also tell them that the morgage companies aren’t all that willing to help them if they are 5 - 6 months behind or more.

But more than anything, President Obama, use your air time to warn people that the time is ripe for scams such as described above.
Never mind trying to please every fg body.
Take the time to help the mdidle class who are feeling the results of an economy gone sour.
oh for goodness sake.
Read the fine print~
These scams are not limited to “sub-prime” mortgages.
Got that.
The person I am talking about did NOT have a sub-prime mortgage,
Did NOT. All right?
Obama did not explain anything.
ANd he didn’t because he didn’t do His homework.
Google: “Loan Modification” and see how many of these crooks are bilking- no - stealing - money from vulnerable homeowners.
Huum
many do not understand what is being done to their own.
Pathetic.
So
Pathetic.

I will be applying for a wells fargo loan modification. I switched jobs about a year ago and make significantly less than when I purchased the home. Currently my monthly mortgage payment is much more than 31% of my gross income. Will I be denied because my house is listed for sale. The house is not in foreclosure. I know the question: “Is your house listed for sale or do you intend to sale your home?” is specifically asked in the wells fargo questionaire. What should I do?