I did not qualify for HAMP.. bcuz my house I owe 936,000

Submitted by Angela Flores from CA - 11/28/2011 - 11:54pm

So.. now I was told that I need to qualify for an IN HOUSE LOAN.. Now what?

You are not watching this post, click to start watching

Comments

Submitted by Cameron - 12/16/2011 - 10:26am

Have you tried a sale and leaseback program? You can stay in your home for a much reduced payment....

Submitted by bnpsolutions - 12/16/2011 - 1:50pm

Hi, my name is Angel and I am a Private Investor that has assisted many people getting their loans modify, I am not in the business to buy or sell properties, so that we are clear that I am here not interested in no body's property, it is your home period and for me that is sacred.
now in regards to your bank denying HAMP it is appropriate since you owe more than the principal balance required which is set for 1 Unit: $729,750, unless your property is 2-3 units then yes you are eligible. Now it seems that your bank is trying to assist you by shooting for a traditional modification or in-house as they call it, and if this is the case then you are in the right track towards getting a more beneficial arrangement that what you presently have, non the less there is other legitimate ways to really obtain principal reduction down to AVM (Actual Market Value) and also obtain a interest reduction from 3.5 to 5.0 %, of course as any good thing it requires great amount of work and will to achieve such benefit as the one i just mentioned to you, but in the mean time you can always contemplate with God's help a positive result in your current process, but if in any case would like to know more about what i discuss above just let me know.

we are here to serve you.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.