I am a new joiner to the forum after a friend referred me and was hoping someone could provide some much needed help with regard to dealing with Hudson City Savings Bank. I have my first mortgage with them and my second with another bank. If I combine both 1st and 2nd mortgage, I still have some equity in my home, approx $30k. I am current on 2nd, but have stayed one payment behind on my 1st with Hudson City for the past 6 months, yet covering late fees each month. Going back to last January, I experienced a substantial pay cut and with ongoing medical expenses for my two autistic children (one non-verbal), I had maxed out my credit cards to cover monthly expenses. Three surgeries for my daughter over the past 2 years have also put us in a hole. However, I have actually managed to cut my credit card debt in half over the past 6 months (leaving $20k) with an eye toward cleaning up the remainder over the next 3 months or so as I settle them out. Unfortunately, my salary has remained as is, and while relatively decent, I am still having trouble keeping up with the current mortgage. I am wondering of anyone has had any experience dealing with Hudson City with regard to any programs they may offer to assist people in keeping their homes? I do not think they participate in HAMP or HARP and I believe they recently ended their in-house loan modification program (though I do not think that would be enough help for me). I was thinking of forbearance as I believe they do offer this program if you qualify.
It would save me a fairly decent amount, and with possibility of additional part time work and a potential better paying job over the next 6 months, it may just help me and my family keep our home. I can legitimately document my hardship related to my children and my pay decrease, but I fear that my relatively decent salary may end up hurting my cause. That said, my expenses due to my children's issues are higher than an average family making the same $ (ongoing private therapies, surgeries, doctor visits, etc..). I am looking for particulars with regard to this lender, what they look for to qualify, and any other possibilities I may have. My house has been setup so that the kids are in a safe secure place (gates, locks, specially designed alarms, both inside and out), and no its not a jail
Between how we set up he house and the familiarity they have, it would be devastating if we were forced to move and I fear they would digress after making some great strides forward over the past 4 years we have owned the house. I had been current without issue up until 6 months ago when I started getting behind.
Any help would be greatly appreciated.