I have a relative who hasn't paid his mortgage since last July with no foreclosure.
I also have another relative who has been struggling to work through the "program" implemented by the government to help folks stay in their house. Supposedly your lender has to help you by lowering your loan payments and total if you "qualify" for the program. Well in order to even qualify for the process to begin, you have to not pay your payments for 3 months then you have to jump through all these hoops. The lender supposedly has 6 months to get you through the process. She stays 90 days late even though they are paying the mortgage. She has been slogging through the red tape for almost a year with no resolution! Just TONS and TONs of frustrations!! (Yeah BoA - your tax dollars hard at work
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They live in two different states and have two different lenders. So they are definite factors in how long/fast the process goes.
I also have another relative who has been struggling to work through the "program" implemented by the government to help folks stay in their house. Supposedly your lender has to help you by lowering your loan payments and total if you "qualify" for the program. Well in order to even qualify for the process to begin, you have to not pay your payments for 3 months then you have to jump through all these hoops. The lender supposedly has 6 months to get you through the process. She stays 90 days late even though they are paying the mortgage. She has been slogging through the red tape for almost a year with no resolution! Just TONS and TONs of frustrations!! (Yeah BoA - your tax dollars hard at work
They live in two different states and have two different lenders. So they are definite factors in how long/fast the process goes.
