Just said to ASC I did Not send my Payment

[jcrangel]

We live in Goodyear Az . My betterhalf and I bought this home back in 2005 we have a loan with ASC it is fixed rate we have never been late till maybe this month I;m sacred as all hell . Here is are story are loan is for about $187,000 paymeant of $1445,77 PITI he get income every monthof about $2,300.00 every month so he has to work to make ends meet his is 74 and works for the school as a bus driver in May he will stop working so it mean we will be in hot water are house is worth about $90,000 right now so we can't sell and are savings has gone quite a bit with house paymeant and water power we would be lefted with about $150 so we will be in real trouble . we are not late but this is the first time I have not send are house payment . Question what do we do we would need to modify long term with paymeants of about $600 to make it with are income . I called ASC we are getting are paper work hope to send it soon . Has anyone one worked with ASC Thank You

[jcrangel]

First I'm happy I found this site it has help me at least feel better . I ask question said to them I would fedex lots of paper work she said I could but it will hole the the process has anyone work with ASC I also said we will not be sending are payment in she said I have to tell you by law you should we left it at that . I need others that have worked with ASC please help me . We will walk if we have to

[baileys dad]

Hello jcrangel,
Good to see you have your own thread...Professor Shays should be around sometime. He is more or less the guru of this particular forum and should be able to help you.
A few questions
1) You only have a first mortgage, right?
2)The size of the parcel is less than 2.5 acres?
3) Are you and your husband both on the loan?
4) Is this a FHA loan?
5) Do you want to try and save the house or have you already decided to leave?

It would seem as if the Home Affordable program that has been announced by the White House might be able to help you if you want to stay. You are needing to drop your payment from 1445 to 600 which is significant. As I said earlier, do not panic just yet as you have enough time to make a plan that works for you.
You should read some of the other threads in this area. There are a lot of people from Az in this forum.
And don't be afraid as you are not alone in your situation...

[jcrangel]

Hi yes this is are only home also we have not send in this months payment yet I'm like don't know what too do we have it I just haven't reason in June are income will come down about $1,800 May is his last month he will work I'm scared . This is all so new to us I'm the one who is doing the research my husband just follows Lol . I talked to the bank today but they could not say really anything till it goes to a loan modify rep

[The Professor]

Jcrangel:

Maybe it is the teacher in me, but you need to specifically respond to questions in order for us to help you. They are designed generally with short answers in mind for a specific reason. Bailey's dad proposed 5 questions which are provided below along with two additional questions that I also need answered:

A few questions (from Bailey's dad):
1) You only have a first mortgage, right?
2)The size of the parcel is less than 2.5 acres?
3) Are you and your husband both on the loan?
4) Is this a FHA loan?
5) Do you want to try and save the house or have you already decided to leave?

Two questions from me:
1. Was the loan identified above created at the time you purchased the home and its entire proceeds used to pay for the home?
2. Have you lived in the Arizona home as your primary residence since you purchased it?

Again, it is important that you directly answer each question.

Daniel

[jcrangel]

Hi We want to save the house < but have not made this months payment > It is not an FHA and are lot is about 5,000 sq feet. It is only in his name .My credit was not okay long story a marriage before this one . And this is are only home and mortage .

[The Professor]

Please simply answer the questions. Most were designed for a "yes" or a "no" answer on purpose.

Daniel

[jcrangel]

We live in Arizona and have not paid are house payment 3 months . We are in the prosess of a loan modify have been for a least 60 day's still no answer we call every week we called today they said to send 1 months payment so we won't go in forcloser I don't know if this is the right thing to do. we are doing this are selfs they give us no answer as to when we will get an answer . They said we have sented everything that was needed . What can we do or what should we do . Has anyone worked with ASC this year .