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Dan Bailey · 03-04-2009, 05:37 AM

rozuki,
Glad you found the forum and posted.
I doubt the plan they are going to send you is part of the Obama plan, since your principle is over 417,000. And youre right, calling them to see what plan they are sending will yield in the runaround.

When the package comes, see what the offer is. Then go from there.

It is not unusual at all for delinquint payments, escrow (taxes, ins) to be rolled into the principle. They roll the escrow in to protect their asset-they want to be sure the gov. has no lien on the property(taxes paid) and the home is insured....even if that was not included in your current mortgage.

The value loss.....that is everywhere.

After you get the packet, if the offer does not help you, you may want to consider contacting NACA https://www.naca.com/refinance/refinanceSubmission.jsp The are a non-profit HUD approaved homeowners advocacy group that helps obtain mods .

These would be the credit implications for walking away, DIL, etc...:The affect on your credit from foreclosures, short sales and deed-in-lieus

03-04-2009, 05:37 AM	#2 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My CW story..... rozuki, Glad you found the forum and posted. I doubt the plan they are going to send you is part of the Obama plan, since your principle is over 417,000. And youre right, calling them to see what plan they are sending will yield in the runaround. When the package comes, see what the offer is. Then go from there. It is not unusual at all for delinquint payments, escrow (taxes, ins) to be rolled into the principle. They roll the escrow in to protect their asset-they want to be sure the gov. has no lien on the property(taxes paid) and the home is insured....even if that was not included in your current mortgage. The value loss.....that is everywhere. After you get the packet, if the offer does not help you, you may want to consider contacting NACA https://www.naca.com/refinance/refinanceSubmission.jsp The are a non-profit HUD approaved homeowners advocacy group that helps obtain mods . These would be the credit implications for walking away, DIL, etc...:The affect on your credit from foreclosures, short sales and deed-in-lieus __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.