How long have you been in your house without paying?

[outriggal]

Hello all,

I finally got a mod with Chase after two years and two months. My neighbor and friend is with Wells Fargo.
The only way they can stay in the house is if they can get their interest rate down to 2% which is what
Chase gave us for the first five years. Does Wells do mods like that?

If not, have long could you stay in the house without paying. The house is in Southern Cal. Owe 300,000 worth
298,000. They are in a bad position financially and need to stay as long as possible without paying.

Thanks for your input!

[Evan Bedard]

I finally got a mod with Chase after two years and two months. My neighbor and friend is with Wells Fargo.
The only way they can stay in the house is if they can get their interest rate down to 2% which is what
Chase gave us for the first five years. Does Wells do mods like that?

If not, have long could you stay in the house without paying. The house is in Southern Cal. Owe 300,000 worth
298,000. They are in a bad position financially and need to stay as long as possible without paying.

Hey Outrigal,

Most major mortgage servicers such as Chase and Wells Fargo offer loan mods that resemble that of the HAMP program even for in-house mods so they do offer mods starting at 2%. The foreclosure process is going to vary for most people so in CA the foreclosure could take about 8-12 months to complete, while for others like yourself it could very well be up to two years without making a payment before the foreclosure is finalized..