Foreclosure: The Other F-Word

The solutions are not sulutions at all. If somebody is reading this section they want to know what they can do now! Not what they should have done!

For people already in the situation, this sounds like slap on the wrist.

Help can be found by calling 800-995-hope, and speaking to a certified housing counselor. There's no cost for the service, and you'll get realistic information.

Make sure that the assistance or help you acquire with your deliquent mortgage loan is from a reputable agency such as a HUD approved housing counseling agency. Verify offers for help at www.HUD,gov. do a search for "approved housing counseling agency".

Exactly right, homecounsel. The Hope line is made up of HUD approved counselors.

I work for a mortgage company in the foreclosure department. As Karma suggests, call your mortgage company if you are delinquent or even if you think you will become delinquent. You would be surprised about the assistance that is very likely available. Mortgage companies DO NOT want your house.

I lost my job 6/08 and my husband lost his 12/08. I called my lender in an effort to discuss options in 9/08. I was told that nothing could be done until I was delinquent in my payments ... then options could be discussed. No one would listen to what I had to say, just "you'll just have to be late on one payment and then ... ". I was not raised to shirk my responsibilities, so after becoming late in my payments, I called back. Each time I called (about 4 times), I talked to someone different, could not get any answers, and was told paperwork would be mailed to me about options. I was and am thoroughly discussed with this way of doing business. Consequently, I filed Chapert 7.

I bought a condo through the Mayor's Office of Affordable Housing in San Francisco. Not only did Wells Fargo the approved lender give me a bad loan but the Below Market Rate unit was in a high end building with HOA dues almost equal to my mortgage payment after four year. For the first two years I contacted every agency along with the bank to help me keep my home but received no assistance. So I walked. As a result my unit went into foreclosure and sold for less than the debt owed. I'm stuck with a 21k home equity loan and the bank still refuses to work with me. It seems assistance is only given to people who were bad risks to begin with. Homeownership isn't all it's cracked up to be.

The lending institutions make it out to be the homeowners fault that they lost their home by saying that we lived above our means and ect. Excuse me? I had a credit score of 810 and had an income of 250k.My house payment was right in line with my income, but when the company went bankrupt and I couldn't get a job, then it was my fault and I was another bad debt. They, of course wouldn't do anything to help the situation. But they did raise my interest rate just before we lost the house. Now my credit has suffered tremendously and I'm forced to rent an apartment because my credit score isn't high enough for a mortgage. This had NOTHING to do with reading the contract or making sure I could afford the house.

I have the same problem as most. Leader would not talk to me untill I had missed payments. After two months working with hope, During the process I get an auction date. I called the lady I had been working with from hope. She told me she should have an answer for me regarding my loan and she was going to try and stop the auction. After leaving many messages and emails to hope & not getting any return calls. I called my leader and they told me that hope had not been in touch with them in a few months. And the auction date was still on. My leader also told me the offer hope had submitted was deined because hope had listed I had no income for me.
I told hope I was going to find help some where else.
They seemed please. I went to NACA's work shop and after 12 hours of waiting time it was my turn to see the counlsor. Just my luck I get Mr "I don't give a !!!! about you". And my leander had already left for the day. I left there feeling worse than when I came to NACA. Monday I called NACA, after waiting for an hour it was my turn. The only information I got from them was my paper work was submited by NACA. Naca also told me it was up to my leader now. They explained to me that the leaders has works from the same program NACA does. I called my leader and it seemed like I was back to step one. Because my leader had told me they hadn't received and thing from NACA. They told me to call back in two weeks. I didn't wait the two weeks. It was more like 2 days. Each time getting the same answer. The only thing that has changed is that the auction date is near.And my credit score keeps going down.
Any one has any advise?

I also had the kind of luck everyone is talking about.  My payments were getting harder and harder to make with my husband out of work and no unemployment.  I would talk to the lenders and they did adjust a couple of payments to the end of the loan, but they still were running late.  I asked to refinance to make payments less expensive (instead of $650 a month), could not refinance.  Just seemed to not want to work with me for any length of time.  Home is not empty and rotting down after 15 months of sitting.  No one can afford to buy in this economy, why don't they work with you so they at least get something instead of nothing.