Anybody With A FHA loan Been Foreclosed on!

[shay01]

Originally Posted by cleach

Shay, you should be able to call a local realtor & get an approx. value for your house. Of course, it won't be EXACT but you should be able to get a fair idea.

Thank U i will try that.

[weneedpeace]

Cleach - same thing us as. VA told me that they will pay a claim to Wells Fargo, against our 'veteran's entitlement'

Shay - A Realtor can pull comparable sales for you. Also request pending, active-contingent, and actives to see the trend. It won't be exacting to what the lender/appraiser's valuation - but it will give you a range. Zillow.com *can be a resource, but to get more exacting comps go through a Realtor. Also, the MLS listing details will tell you if the houses that are like yours sold traditionally, what the original list price was, what they sold at, market time, whether the seller paid any concessions (closing costs, etc.) to the buyer, whether it was a foreclosure or short sale. Depending on your state/MLS network - it can give you a wealth of information.

[dtap57]

Weneedpeace, Do you know if VA loans work the same way as FHA loans work? Do they have a partial payment if you get behind on your payments? Did they offer to lower your payment very much on a 3 month plan? Thanks

[aubie37]

Originally Posted by dtap57

Thanks Aubie, Has Naca had any success for your FHA loan? So far they haven't tried to foreclose on you?

No notice of sale. I just keep getting the collection letters. My account finally got coded that it is in review for assistance. My value is underwater as I owe about $150K, am now past due 7 payments, and the sales on my street have been about $115K. One of those closed in the last few weeks.

CitiMortgage has used all kinds of "issues" for either counting or not counting my income. Lastly, being that I have to make more, yet, I am working two jobs "as is", then not counting my part time income. Based on the part time job I am just over the 33% of gross. I did not get this mortgage though on having a part time job to cover it and make far less than I used to make. With my primary job I am about 39% of my gross. I have no resources to make up this difference.

Currently, I pay $40 for office visits, have a $3K medical deductible, and take several medications on top of $160+ monthly just in the healthcare premium for coverage. And, am paying medical bills from months ago when I had no coverage.

[dtap57]

aubie, im sorry to see your situation. I wish the Gov would read some of these post and start trying to help. It is sad because the Gov is backing our loans they can help us if they want to. Try to hang in there!

Cleach, thanks also for letting us know about your situation. I know it has to be tough talking about it but i think a lot of us our learning a lot from it. Thanks Again!