Loan Modification - Free Foreclosure Help - Help Stop Foreclosure » Help Stop Foreclosure - Loss Mitigation Help » Help Stop Foreclosure » mortgage loan company - dont wanna mention name.. :P?

Help Stop Foreclosure Chat about everything Mortgage related. our staff are ready to answer any Mortgage questions you may have. All advice is free.

Short Sale    Loan Modification    Loss Mitigation Training    Short Sales Training
Reply
  #1 (permalink)  
Old 10-05-2010, 03:35 PM
Junior Member
 
Join Date: Oct 2010
Posts: 1
Default mortgage loan company - dont wanna mention name.. :P?

so i used to have 2 loan from the same company,the other one is $700 each month and the other one is $200. The main loan is obviously the $700.So all in all i pay $900 for my mortgage,. i live from paycheck to paycheck , i have 2 kids and im the only one working. So ive decided to do modification under obamas plan. anyway,. we did Trial payment for 9 months. and yep., its more than a year now, when the mortgage company decided to sell my other loan to another company. so my $700 is in another company and the $200 stays in the same company.,. when they transfer the main loan, they told me that i cannot modify it anymore since i can pay it .. of course, i can, i mean, they took out the $700 and leave the $200. of course i canpay the $200. i hope you get what i mean. (not good in explaining since im no good in english as well.) but anyway.. my broker told me that since they dont wanna modify the other loan which is the $200. we are not gonna pay it anymore. so it will be charge off. .. but im afraid that they can foreclose my home. but the broker told me that they cannont do that since they transfer the main loan to another company,. they have to buy it again. is that true? whats gonna happen? can they sue me? my broker told me that the company that i have the $200 will report it to the goverment as unsecured debt and that the goveerment will give them what ever i owe. say , $35,000 but the collection agency will haunt me .is it true? but i dont need to pay since the company not the collection agency will collect it from the goverment and its illegal to charge us again so they will sell it to the collection agency. ??? is that right? i dont know how things are going and whats gonna happen. we are in our 16 months of trial period and this company that holds our second mortgage wont cooperate... they are greedy!!okay, before you react.. i am asking right? the reason why im asking is because i dont know the answer right? so why are some of you are being sarcastic? MY BROKER IS THE ONE TELLING ME NOT TO PAY IT SO THE COMPANY WILL CHARGE IT OFF>! so i am asking is it right?!! do i have to follow what my broker is telling me? you get it??? dont answer it. if you dont want the question!oh btw.. we are doing a modification to make the payment lower.!! life is tough right now and we need an option to save on everything especially on mortgage!!
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 06:21 AM.
Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd. Free Foreclosure Help