I need help to help my son. He is on the verge of losing his home. What alternatives are out there?

Posted on Feb 24, 2013 in HARP Refinance

Check out these apartment building pictures:

Observatory Hill Apartment Constructing

Image by joseph a
This was one particular of a few eye-catching apartment buildings located in Pittsburgh’s overlooked Observatory Hill neighborhood.

If you would like to see much more homes click here…
VITAL STATISTICS
211 Neil Ave., pharmacy Marion, treat Ruth Wheeler to Frederick R. Davis Jr., $ 8,500. 1817 Harding Highway W., Marion, Federal Home Loan Mortgage Corporation to Timothy C. Fogle Jr., $ 103,000. 1287 Sunset Road, Marion, Norma J. Johnson to Nancy J. Axline, $ 40,500 …
More informaiton please visit here…

In Cyprus port, Russian money flows freely
Home to over 30,000 Russians who began flocking to Cyprus after the Soviet Union's collapse and catering to many more tourists each year, locals jokingly refer to the town, complete with Russian signs and schools, as "Limassolgrad". "Cyprus is a …
More informaiton please visit here…

Question by alicia s: I need help to help my son. He is on the verge of losing his home. What alternatives are out there?
He is sick with diabeties, cure but he works his butt off. I guess this is happening all over. But how can he save his home. Thanks

Best answer:

Answer by I Buy And Sell Houses
He should contact his lender and ask about a loan restructuring or forebearance. He’s already received material from the lender describing those options. He should read (or re-read) the information, story then contact the lender.

Failing that, he can attempt a short sale. He’ll be selling his house at a loss, but it’s better than a foreclosure.

Add your own answer in the comments!

One Comment

  1. There’s a new federal program that just took effect in October. It’s called HOPE for Homeowners. It will provide up to $ 300 billion in government-insured loans for people at risk of default or foreclosure. It allows homeowners who got mortgages before January 2, 2008, to refinance into a 30-year fixed-rate loan. Check out the Department of Housing and Urban Development’s fact sheet on the program to see if your son meets the criteria then tell him to talk to his lender.

    HUD fact sheet http://www.hud.gov/hopeforhomeowners/consumerfactsheet.cfm