Loans, Debt & Credit - View Single Post

2bgrand · 03-17-2009, 05:02 PM

I think the answers were vague because you are inquiring nice and early in the process, and we don't understand your intentions. Do you want to keep the house, etc. From what I've seen here on this sight and others is that the house would have to be in arrears on the payments and on the market for 60 - 90 days before the lenders would consider loan modification or even a short sale if need be, both of which can be researched here on this sight. I cannot advise either, I'm just another unemployed in arrears homeowner like yourself, that has been researching intensely to arm myself with understanding of my options. One thing to look into before you up and pack is looking into your state's redemption period, which is the length of time from your foreclosure judgement to the time you will need to be moved out, Wisconsin is 12 months.

03-17-2009, 05:02 PM	#8 (permalink)
2bgrand Member Join Date: Mar 2009 Posts: 9 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Just another loan # in their system I think the answers were vague because you are inquiring nice and early in the process, and we don't understand your intentions. Do you want to keep the house, etc. From what I've seen here on this sight and others is that the house would have to be in arrears on the payments and on the market for 60 - 90 days before the lenders would consider loan modification or even a short sale if need be, both of which can be researched here on this sight. I cannot advise either, I'm just another unemployed in arrears homeowner like yourself, that has been researching intensely to arm myself with understanding of my options. One thing to look into before you up and pack is looking into your state's redemption period, which is the length of time from your foreclosure judgement to the time you will need to be moved out, Wisconsin is 12 months.