Getting mortgage paid by relatives/loan mod - Loan Modification Forum

Jrixey · 08-20-2009, 09:26 AM

Currently my entire mortgage has been being paid by my parents.

My business has slowed down and I only make enough for utilities and food.
I intend to stay in this home, but need to take the payments down for my parents sake. They were the only one's able to bail me out so far. I am fortunate in that respect. My parents intend to keep paying this mortgage because I live here with my young son I am a divorced, single mother and I am struggling. The monthly payment is 2,400.00 and I am behind one month.

I had a QWR and their lawyer said it looked like there was no foul play. But I really think he did not delve into the contract.

How should my hardship letter read if I have my parents paying this mortgage? If the income on my behalf is too low- I am afraid ASC will scurry to get the home from me...
How do I included parents in this loan modification?

Please advise.

Evan Bedard · 08-20-2009, 09:36 AM

Hi jrixey,

See if a letter will work from your parents explaining how much they contribute to the mortgage each month..

08-20-2009, 09:26 AM	#1 (permalink)
Jrixey Member Join Date: Jun 2009 Posts: 24 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Getting mortgage paid by relatives/loan mod Currently my entire mortgage has been being paid by my parents. My business has slowed down and I only make enough for utilities and food. I intend to stay in this home, but need to take the payments down for my parents sake. They were the only one's able to bail me out so far. I am fortunate in that respect. My parents intend to keep paying this mortgage because I live here with my young son I am a divorced, single mother and I am struggling. The monthly payment is 2,400.00 and I am behind one month. I had a QWR and their lawyer said it looked like there was no foul play. But I really think he did not delve into the contract. How should my hardship letter read if I have my parents paying this mortgage? If the income on my behalf is too low- I am afraid ASC will scurry to get the home from me... How do I included parents in this loan modification? Please advise.

08-20-2009, 09:36 AM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Getting mortgage paid by relatives/loan mod Hi jrixey, See if a letter will work from your parents explaining how much they contribute to the mortgage each month.. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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