[needhelpinoside]

Thanks JWM – that made me laugh! No worries about the crassness as I have called myself a lot worse for getting into this situation.

Nope, no way possible for us to keep the house. So now it’s just finding someone to help us with the next step. I definitely want to avoid the bankruptcy route, though.

Thanks for the advice everyone. I will check into all that you have suggested.

Sincerely,
FB in Oside

[needhelpinoside]

Thanks JWM – that made me laugh! No worries about the crassness as I have called myself a lot worse for getting into this situation.

Nope, no way possible for us to keep the house. So now it’s just finding someone to help us with the next step. I definitely want to avoid the bankruptcy route, though.

Thanks for the advice everyone. I will check into all that you have suggested.

Sincerely,
FB in Oside

[needhelpinoside]

Thanks JWM – that made me laugh! No worries about the crassness as I have called myself a lot worse for getting into this situation.

Nope, no way possible for us to keep the house. So now it’s just finding someone to help us with the next step. I definitely want to avoid the bankruptcy route, though.

Thanks for the advice everyone. I will check into all that you have suggested.

Sincerely,
FB in Oside

[needhelpinoside]

Don’t know what FB means.

I know that we bought the home without understanding what we were getting into. My parents moved here in 79 and their dream was to be homeowners one day. Unfortunately it never happened for them when we were kids but now that they are older and our dad’s health has deteriorated, my sister and I decided to come together and purchase a home where we could take better care of them and they could live out their golden years. This was after 25 years of our family renting. We thought we were making a secure move for our family. Please believe me when I tell you that I am now very aware of what you refer to as exotic loans. Please understand that I do know the mistakes I made that got me to this point. Please also understand that there are countless people that do not understand real estate as you do. I thank you for reading my request for help.

As for the loan, I’ve tried to negotiate with the lender myself but they say they are only the servicer and not a mortgage loan company and cannot adjust the rate or payments. By the way my loan is with Wilshire Finance in case anyone has any experience with them.

Thank you FormerSanDiegan for your advice. I have researched deed in lieu of foreclosure and know that it will need lender approval. I’ve also read that with Short Sale I can be taxed on the difference between the sale and what I owe on the loan. So these are things that I am looking for guidance on. As you suggested above, I will seek the advice of a real estate lawyer.

[needhelpinoside]

Don’t know what FB means.

I know that we bought the home without understanding what we were getting into. My parents moved here in 79 and their dream was to be homeowners one day. Unfortunately it never happened for them when we were kids but now that they are older and our dad’s health has deteriorated, my sister and I decided to come together and purchase a home where we could take better care of them and they could live out their golden years. This was after 25 years of our family renting. We thought we were making a secure move for our family. Please believe me when I tell you that I am now very aware of what you refer to as exotic loans. Please understand that I do know the mistakes I made that got me to this point. Please also understand that there are countless people that do not understand real estate as you do. I thank you for reading my request for help.

As for the loan, I’ve tried to negotiate with the lender myself but they say they are only the servicer and not a mortgage loan company and cannot adjust the rate or payments. By the way my loan is with Wilshire Finance in case anyone has any experience with them.

Thank you FormerSanDiegan for your advice. I have researched deed in lieu of foreclosure and know that it will need lender approval. I’ve also read that with Short Sale I can be taxed on the difference between the sale and what I owe on the loan. So these are things that I am looking for guidance on. As you suggested above, I will seek the advice of a real estate lawyer.

[needhelpinoside]

Don’t know what FB means.

I know that we bought the home without understanding what we were getting into. My parents moved here in 79 and their dream was to be homeowners one day. Unfortunately it never happened for them when we were kids but now that they are older and our dad’s health has deteriorated, my sister and I decided to come together and purchase a home where we could take better care of them and they could live out their golden years. This was after 25 years of our family renting. We thought we were making a secure move for our family. Please believe me when I tell you that I am now very aware of what you refer to as exotic loans. Please understand that I do know the mistakes I made that got me to this point. Please also understand that there are countless people that do not understand real estate as you do. I thank you for reading my request for help.

As for the loan, I’ve tried to negotiate with the lender myself but they say they are only the servicer and not a mortgage loan company and cannot adjust the rate or payments. By the way my loan is with Wilshire Finance in case anyone has any experience with them.

Thank you FormerSanDiegan for your advice. I have researched deed in lieu of foreclosure and know that it will need lender approval. I’ve also read that with Short Sale I can be taxed on the difference between the sale and what I owe on the loan. So these are things that I am looking for guidance on. As you suggested above, I will seek the advice of a real estate lawyer.

[needhelpinoside]

Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.

[needhelpinoside]

Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.

[needhelpinoside]

Thank you to for the advice. I don’t have any equity in the (the loan amount is 535,000 but according to zillow.com my house is worth 515,000) so I know my options are short sale or foreclosure. I have come to terms with that I was just trying to see if anyone knew of someone who has experience with the pre-foreclosure process. Someone that will be able to help my family through the process. A loss mitigation specialist is apparently someone who will negotiate with the lender to lower the rate on the loan or work out some kind of payment plan. It’s basically someone getting paid to do something we can do on our own. And yes, I have already tried with my lender and they offered the forbearance but my payments are already so high that we would never be able to catch up. I live with my sister and we take care of our parents. She also has 3 kids. We bought our home in 2004 but in 2005 my dad was hospitalized for 4 months and due to missed work we made the mistake of using credit cards to pay some bills. In 2006 our 2 year fixed rate adjusted and it went from 5% to 8% and our credit score was in the 600s by then & we’ve been struggling ever since. This is definitely not a scam to play on anyone’s sympathies during this time. I started the process of looking for help early last week. I am already in credit counseling to work on my credit card/loans and am looking for someone who can help me with this part. I know I am going to lose the house – I just wanted to find someone who can offer some guidance. It sounds like a real estate lawyer is my best option.

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