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    Coronavirus Mortgage and Real Estate Crisis of 2020

    Yep, you guessed it. I initially had an interest-only mortgage. I knew exactly what I was getting into,, and I actually had a good reason for a "pick your payment" mortgage back then. It's a long story, so I won't bore you with it. But the plan was to refinance way before the interest-only...
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    Coronavirus Mortgage and Real Estate Crisis of 2020

    Hi NewbieFed - Well, I've essentially done nothing, but I've managed to tough it out. In 2017, my payment went from 2200 to 4400. The original plan was to refinance well before the payment went up, but life threw unexpected twists at me, and I was not able to. I couldn't pay it, really couldn't...
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    Coronavirus Mortgage and Real Estate Crisis of 2020

    NewbieFed, I also have a securitized loan serviced by Mr. Cooper. Let me tell you something -- if your loan was securitized in the ancient days of 2005, NO ONE is getting a dime out of it. By now, any companies that invested in these things have all filed (and generally won) lawsuits against...
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    Nationstar Changes Name To Mr Cooper?

    My opinion? You can call crap a diamond, but it's still crap. I made every mortgage payment in full and on time for 10 years. I contacted them at the first sign of trouble. They sent me a long letter on their nice new letterhead that basically said, " we're not going to help you in any way. We...
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    Selling Part Of Your Home Equity As A Possible Solution

    Many distressed borrowers who have equity in their homes simply choose to sell. This enables them to pay off their troubled mortgage and possible end up with enough money to make a start on buying another home. But having equity doesn't always make selling a great option. For example, to put...
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    Deutsche Bank Settlement: Was Your Loan Securitized By Db?

    Hi Moe or other moderators: I hope you'll spread the word about this settlement because it has the potential for benefitting a lot of folks here (including me, I hope). Some of those people might not even be aware that the settlement pertains to them because you aren't generally told much about...
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    Do You Have A Loan Originated By Countrywide, Now Serviced By Nationstar?

    You may stand to benefit from the Deutsche Bank settlement announced earlier this year. See this website for details: https://deutschebankmortgagemonitor.com/about-the-settlement/ A lot of us former Countrywide folks missed out on the Bank of America settlement because the servicing on our...
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    Deutsche Bank Settlement: Was Your Loan Securitized By Db?

    This could be good news for some of us, I have a Countrywide loan, sold to Bank of America, then servicing rights sold to Nationstar. According to the MERS website, HSBC is the "investor," though I assume that actually means "trustee for the investors." I am pretty sure my loan was securitized...
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    Huge Payment Increase, Low Credit Score, Denied Mod

    Erik, Thanks so much for talking with me yesterday and for making life look so much brighter! To all LoanSafers who need financing solutions, I HIGHLY recommend that you talk to Erik. I was amazed at the options that are available even if your credit isn't great. My credit is pretty bad, but...
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    Huge Payment Increase, Low Credit Score, Denied Mod

    Sure, I'll give you call tomorrow morning, if that's okay. I need to wrap up a few things this afternoon. Thanks!
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    Huge Payment Increase, Low Credit Score, Denied Mod

    Oh, and I can't get any gift funds. Would be nice. My dad is 92, and his $800,000 home on the California coast is sitting in a trust for me, and I will own it immediately upon his passing. But I don't own it now, and I'd really rather have my dad than his house. ;-)
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    Huge Payment Increase, Low Credit Score, Denied Mod

    You won't believe this: I JUST went out to the mailbox and got my new county assessment. They now have me at $942K! Now, this has nothing to do with my appeal of the previous assessment. That hasn't gone through yet, nor do I know whether it is going to be accepted or denied. But $942K is where...
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    Huge Payment Increase, Low Credit Score, Denied Mod

    Hi Erik - What a quick reply. You're awesome! 1. I am in the Seattle area of Washington state. 2. The question of what my home is worth is a tricky one. Depends on who asks. ;-) It was recently assessed at $855,000 by King County. Tax assessments are pretty reliable here because they are...
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    Huge Payment Increase, Low Credit Score, Denied Mod

    This is probably not workable, but I want to examine every possibility, just in case there's some oddball refi out there that could help me. I have a Countrywide > B of A > B of A NA > Nationstar loan that was interest-only; now I have to pay the entire principle in 20 years. (This isn't a...
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    Credit Ruined by HAMP. Help!

    There's little good to be said about paying for anything with credit cards...I'll agree with you there. But here's something going on with me: my 5-year-old developed an unusual oral-dental infection (despite regular tooth-brushing, limited sweets, etc) and major decay. She can't eat without...
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    Credit Ruined by HAMP. Help!

    I have done contract work since I was laid off over a year ago, and all the contractor agencies I've worked through run a background check that includes info from credit reporting entities. I don't know whether any of them deny anyone employment because of bad credit (my credit is still good)...
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    Foreclosure looming; need attorney ASAP

    Try this website: Find a lawyer. Free legal advice. Lawyer ratings. - Avvo.com You can find an attorney in your area in any area of specialty. The good thing about this site is that people who have used these lawyers can write reviews on them. ALso, you can see if there have been any...
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    Please Correct Me If I Am Wrong.

    I hear ya, Gotta, and I think we can agree that everyone must weigh many factors when they decide whether to stay or go. Certainly, the financial aspect is a big one. And you are correct in pointing out that strained finances can lead to other problems. All I'm saying is that there are...
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    Please Correct Me If I Am Wrong.

    Heh, Fraudian slip there? I meant "dollars and cents."
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    Please Correct Me If I Am Wrong.

    I propose a phrase other than "emotionally attached to one's home." Bringing emotions into the mix implies that someone isn't using their brain and evaluating all the pros and cons. I'm as much of a bean-counter as anyone, but in my case the "beans" aren't just dollars and sense. Leaving one's...