[sickchick118]

My cousin has a mortgage through suntrust and recently got divorced. Because his former wife has left him he cannot afford the monthly payments. He is in the final stages of trying to get his monthly payments to be lowered. He has sent in all of his paperwork and his laywer isnt doing anything else. He is afraid that he will lose his house. He owes $24,000.00 in back payments and has a current monthly payment of around $2,120.00. Does anybody know anything that he can do in order to speed up the banks decision in his favor to keep the house and just lower the payments to something he can afford each month? He isn't even going to decorate for christmas because he fears that is house will be taken from him. Thank you for your help.

[Sangiovese]

Hi,

First, you have 90 days from the date of foreclosure filing (in your county) for bank to take any action. After 90 days the bank will set a sale date but that will also take some time. Basically, you have some time left. In my experience banks are not modifying loans. Instead they come up with all types of excuses not to do it. Have you ever heard of a mortgage audit? This is a service pefromed by an attorney for about $650. About 70% of loan documents have violations, which are ground for a lawsuit. If, you can find an attorney and invest in this type of audit and if there are grounds for lawsuit, this will automatically speed up the loan modification process and move it into a different category. The way to fight a bank is to slap them with some kind of lawsuit. I have been trying to modify my loan with SunTrust for 9 months. I got denied (no reason given) and have recently reapplied again. As of note, did you know that the CEO of SunTrust just got a 75% raise increase??? All this while the homeowners are struggling to pay. Best of luck to you.

[cutecub00]

Like so many people right now, me and my husband where about to lose our home

but we went through a company to lower our mortgage payment, they also helped with

our finances (debt consolidation). I will give you the company that we used, very

reputable and i have a good friend who is going through the same process. Hope

this helps