| Re: A New Start
Welcome to the forum and thank you for joining....
The second I am sorry to say will not forgive the loan, they are not forgiving principle balances on the mortgages today. Given that you are so stressed and just living day to day...your situation is not pleasant given the circumstances I would suggest that you consider consulting with CCC's and determine if they can negotiate the payments on all of the debt into a manageable format. This is like BK, but not the hit on your credit that a BK is. Short of that, you are unfortunately facing BK or having an attorney determine if there is another method that will alleviate the monthly trauma, given the post, I really doubt that there is any other alternative than trying CCC's or a BK. I realize that the onus of a BK affects your credit, however with the recent foreclosure, that is just as bad as a BK and frankly it makes sense to run them together....from the credit side of the world, lender here.
We have only seen the Seconds forgive and extend forgiveness in negotiated Short Sales to date...and that is limited as it is rare that you will obtain complete forgiveness even in those negotiations. |