Looking for some help

[mattoc6]

I have been looking for help for sometime and I hope that you can help me. I am in trouble with my mortgage. My first is currently about 2 1/2 months behind. I have been able to make my payments, but I fell behind about a year ago and have not been able to catch up. I have tried to get on a repayment plan with my mortgage company (GMAC) but I can't afford what they are willing to give me on a repayment plan. This one I am working on GMAC with and believe that I will have it worked out soon.



My worst problem comes with my second mortgage. Much like my first I fell behind, but I let it go on for too long and it is now in collections. They have offered me a settlement, but I don't have the money to pay it. I don't want to lose my house, but don't know what to do.



I have a wife who is a stay at home mom to our three children. I make good money, but we never had the cushion to protect ourselves, henceforth our current problems. Any help or advice anyone could give me would be greatly appriciated.

Welcome to the forum and thank you for joining....

The situation with GMAC is coming along? Are you able to resolve the problem? What caused the hardship? Since you are working and the wife is not, then was their a problem with your income?

They will want to see that the hardship is resolved and/or that the hardship was purely caused by an adjustment to the payment.

As for the Seconds, there is little that can be done with them these days...you can try to arrange for payments with them, if they have set it to collections, is this an outside collection agency or is it still with the Servicer? Who is the servicer?

Please if you could answer these questions and any thing else that you determine to be relevant, I need to know to give the proper advice.

[mattoc6]

The second is my major problem so I will focus on that.

Wells Fargo is the servicer. It is now with an outside agency.

There was no one moment or hardship that got us in our current situation, just a long term effect of not making enough money.

My wife has not worked since before we bought the house so that was not an issue. I am working two jobs now so we have "new money" coming in so that have been helpful, but I don't know it is in time.

Since it is with an outside agency....they have "given" up at the Wells side of the world, now if this is a derivative of Wells Hell, then they are still able to Foreclose on the Second, however if you are upside down in the property, chances are not real strong, but they still could.

You really need to find a decision maker at the agency where the Second is lodged and make arrangements. They are going to possibly move to judgment on the Second Lien and then be able to garnish income.....head that off at the pass.

You need to stress that the income situation is resolved and that you are able to manage a payment with them...please do not speak to the clone that answers the phone, they are commissioned on the collection and could give a hoot about you, your situation, your family, etc...you need to find a decision maker and make arrangements to pay ____$$$ per month. They need to accept that amount and provide in writing that they will. At that point you should be able to tame the beast. While you are at it, you can try to lower the balance as they may have only paid .50 on the dollar for the obligation, never hurts to try...but you have to get to a person in charge for that negotiation to occur.

We are seeing so many ways that these things are being handled that I had to ask the questions that I did. If it is now outside, there is a snow ball's chance in _____ that you can effectively negotiate the debt with them and have some reduction in the amount owing....I would certainly go for it.

[mattoc6]

Thanks for the good info Poppy. They have actually offered me a pretty nice settlement (12K on nearly 29K), but I just don't have the cash to do it right now. Hopefully I can find a way to work out payments.

Thanks again and I will keep you updated.

Matt

Work out the payments on that one, real fast before they change their pea sized less than sentient minds on the offer. They know that you do not have that kind of money laying around, why else would this be happening....

Morons, all of them morons....

[mattoc6]

I always love when the collectors ask if you can pay them X amount right now. Do they really think if I had 12,000 laying around I would be having to talk to them? Thanks again Poppy. Hopefully I will have some good news soon.

Yeah, like we all have that laying around....they are just hoping for the want of a better term to make their one month's commissions off that collection where we have that kind of money just lying around LOL

[jennifer]

We need eo orgaganize a virtual party for our family frieds here
we can set a time this evening where all come to gahter to chat visit act like normal people, visitinng talkin drinkin eatin
We can do this this in eveening Virtual party all accross the countryl ittle pods of people
we can arrange this where hudreds of membeer could brainstot
A virtual patry here
we will hace to have a new thres just for the party some that would bring us togather a strong community a force to be reccond with.
Than it needs to go futher into the neighborhoods

we can do this *** and poppy can lead us teach us what we needn to know


I have slept way tolittl but 'i khow we need this 'i just have figure out


we deserve a party !!!


com on girls help us plan virtual inter party

bring in the big gun !!! it will lift morels and incresase moxie.


tell me what you thihk ??? Dont say no just help me put it togathe

pleasepllesaeplessaeplesasseplesaseplesseWecando this

jennifer

Wish I could take a break, but have to leave the forum soon to work.....lovely work......no time, work 24/7 these days......

Thank you for the idea, I would love a break, but no time to many issues to deal with....