DCU foreclosure threat

[rkmgkm]

Hi

I am in the loan modification process with DCU(second loan modification). My income is significantly reduced due to my wife disability. I had to stop payment for them to start working on my modification. Now I am 60 days behind and not paid for 2 months. After 2 months non-payment, they verbally discussed my new modification to be $950 (less by $200 than the original $1150 )and my new interest rate would be 8%. My house is underwater by 120k . I did not agree to this and now they are threatening me foreclosure. I did talk to them that my house is underwater and they would not get anything if they foreclose. But they are not ready to discuss anything. My first loan is in the forebearance with wellsfargo. It ends in march and I will know how it goes- whether I would receive a perm modification or not. Based on the first loan modification I have to decide how to handle the second with DCU(shortsale ?)

I want some advice on this. Please someone help me in finding a way out with DCU as they are calling me every week and threatening me they would foreclose if I dont pay them their dues.

[Maurice Bedard]

Often second mortgagees will at first be rough in working something out with homeowners in foreclosure. However, once they are convinced that the homeowner is really going to default if they don't get help or that they are considering bankruptcy, they will ease up and may even consider a lump-sum settlement.
Just keep fighting!

[jakester]

Hi

I am in the loan modification process with DCU(second loan modification). My income is significantly reduced due to my wife disability. I had to stop payment for them to start working on my modification. Now I am 60 days behind and not paid for 2 months. After 2 months non-payment, they verbally discussed my new modification to be $950 (less by $200 than the original $1150 )and my new interest rate would be 8%. My house is underwater by 120k . I did not agree to this and now they are threatening me foreclosure. I did talk to them that my house is underwater and they would not get anything if they foreclose. But they are not ready to discuss anything. My first loan is in the forebearance with wellsfargo. It ends in march and I will know how it goes- whether I would receive a perm modification or not. Based on the first loan modification I have to decide how to handle the second with DCU(shortsale ?)

I want some advice on this. Please someone help me in finding a way out with DCU as they are calling me every week and threatening me they would foreclose if I dont pay them their dues.

rkmgkm, two years later, can you advise how your situation progressed? I am about to cease correspondence with this lender, and curious for info on others' accounts with them.

[samvg]

rkmgkm, two years later, can you advise how your situation progressed? I am about to cease correspondence with this lender, and curious for info on others' accounts with them.

Jakester I'm working with this monster DCU. I stopped payment 9 months ago on 30K balance. First approved shortsale.These charged off the debt to a collector. They wont agree for anything unless pay full 30K. Shortsale last dateis Apr 30. I gave up all hopes. Digital Federal credit Union is a monster. sam.