Replies to This Discussion

Permalink Reply by John Treadwell on March 11, 2012 at 6:11am

Brenda, This is a new curve in this market, I too have a PNC current on payments, most banks are now allowing it  ,we will see

Permalink Reply by Brenda L Wood on March 11, 2012 at 11:11am

John, please post your outcome.  It would be very helpful to know!

Permalink Reply by Marcy Moyer on March 11, 2012 at 7:18am

I have one that got through the negotiator, but she has been unable to get the investor to respond for the last month.

Permalink Reply by Tracy Hatchell on March 11, 2012 at 7:56am

Hi Brenda,  It will depend on what type of loan the owner has. Is it a Fannie Mae, Freddie Mac, or FHA?

Permalink Reply by Brenda L Wood on March 11, 2012 at 11:11am

Thanks for the response!  It is a Freddie Mac.  Just met with them and learned  it now is a mute point - they have maxed out their credit cards which is how they were paying their mortgage :(

Permalink Reply by Kevin - Greenville, SC on March 11, 2012 at 2:14pm

http://www.freddiemac.com/learn/pdfs/service/shortpayoff.pdf

Permalink Reply by Tracy Hatchell on March 12, 2012 at 7:39pm

http://www.freddiemac.com/singlefamily/makinghomeaffordable.html

 

Here is a great source straight from Freddie Mac for you.

Permalink Reply by Jerry A Cook on June 22, 2012 at 7:31am

They will assist, but require borrower to contribute, depending on hardship.  Don't expect much relief.  As far as a 2nd loan,  No experience if they hold the first.