HELP..Over local area limit for FHA - Loan Modification Forum

scarednmontana · 05-05-2008, 02:28 PM

Please help...Met with local lender and we qualify for FHA secure except our local area limit is less than our loan is. Im dying here, we are sooooo close to get out of this and the clock is ticking...anyone know what to do with this.....mikka

Moe Bedard · 05-05-2008, 05:41 PM

Mikka, you need to see if you can negotiate a principle reduction to bring your down to the FHA limits with your current lender. That will be the only way.

scarednmontana · 05-05-2008, 08:43 PM

thanks moe, but how do i get the lender to even consider lowering our loan down to the area limit...?? I didn't know this was possible...

05-05-2008, 02:28 PM	#1 (permalink)
scarednmontana Senior Member Join Date: Apr 2008 Location: Montana Posts: 137 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	HELP..Over local area limit for FHA Please help...Met with local lender and we qualify for FHA secure except our local area limit is less than our loan is. Im dying here, we are sooooo close to get out of this and the clock is ticking...anyone know what to do with this.....mikka __________________ Mikka..Fighting Option One

05-05-2008, 05:41 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,889 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: HELP..Over local area limit for FHA Mikka, you need to see if you can negotiate a principle reduction to bring your down to the FHA limits with your current lender. That will be the only way. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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.

05-05-2008, 08:43 PM	#3 (permalink)
scarednmontana Senior Member Join Date: Apr 2008 Location: Montana Posts: 137 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: HELP..another question for you moe.. thanks moe, but how do i get the lender to even consider lowering our loan down to the area limit...?? I didn't know this was possible... __________________ Mikka..Fighting Option One

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