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Foreclosures/Loan Modifications

You're trying to get a modification, or you're being foreclosed?
While every lender, foreclosure and modification situation is different, this is a place to discuss and share your experiences.

1,843 topics in this forum

  1. mortgage problem

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  2. How do you...

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  3. HOA fees after BK and Foreclosure?

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  4. OCWEN settlement

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  5. OCWEN settlement

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  6. Citimortgage Fraud

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  • Our picks

    • I just wanted to share my nightmare/success story.  My credit was in the toilet many years ago.  It took me a while but last year I finally made it into the FICO 800s across the board no lates and low utilization.  Happy as ever.  Then I bought a gift for a wedding on my Macys card online in April.  Forgot all about it as I rarely use that card.  Long story short, my bill is emailed but goes to my promotional gmail folder that I never look at and somehow they had a very old phone number for me so I had no clue.  I got a notification from myfico.com stating your score dropped 69 points due to 30 day late.  WTF???
       
      I was in a panic pacing tears in my eyes,  Me late?  Not in over 15 years have I been late on anything.  I called Macys twice...sorry your fault you need a valid reason etc.  I paid my bill in full immediately ($119) then decided to write letters which I never had the chance to send.  I kept getting credit notifications and refused to look at them because I felt sick.  I finally looked yesterday and ......WHAT??????  Credit scores jumped up 69/65/63 on all 3 bureaus and stated my status went from 30 day late>pays as agreed!  OMG!  Not sure how or why but I will NEVER let that happen again and signed up for auto payments on everything.  I thought getting late removal was very low chance but it can happen!  
      • 6 replies
    • I have an Amex blue cash credit card with zero introductory  plan it feature that helps you finance anything over 100$.
       
      What happens to credit utilization rate if I have 1000$ credit limit and I finance a 1000$ purchase for 10 months? Is it gonna be %100-%90-%80 or %10-%10-%10?
      • 8 replies
    • My son in college, playing baseball was injured and sent for an MRI. They used my insurance information. I never received a bill. I was expecting the school to cover the bill since the baseball coach and AD sent him for the MRI. Anyway, we recently pulled his credit file and its showing as a collection on his reports. I disputed as "not mine" but it came back as confirmed.
       
      How do I proceed????  contact the school 1st? Why Chat do I just follow your procedure?
      • 9 replies
    • Here's where I am.  My goal is to get my credit score to 650 for a mortgage and I currently have a 620 (after initial disputes).
       
      Opt Out Done Dispute Addresses Done Initial Dispute Done I did not dispute any medical accounts (i don't have the money to pay them offc  
      The initial dispute went fairly positive I would say 50% of all accounts that I have were deleted. I guess where I'm stuck is what do to next for thr accounts that were validated.  They where things like utilities and credit cards.  I'm far outside my initial 30 days and some accounts are within their SOL.
       
      Thanks!
      • 12 replies
    • I got a letter back in June of 2015 from Weltman, Weinberg & Reis out of Ohio  saying they were trying to collect a debt for Progressive insurance in the amount of $2700. This was related to a motor vehicle accident that I wasn't even involved in. Someone was using my license plate on a motorcycle that I sold him without my permission and he had no insurance or registration. It was a pretty standard debt collection notice but I hadn't yet started writing my own letters so I hired a local attorney to send them a request for validation. They never responded to his letter but they did try and collect a couple months later. The attorney called them and advised them they were way outside the 30 days and were in violation of the FDCPA. 4 years go by and I get a certified letter saying I'm being sued by the same debt collector except now they have tacked on another $3000 making it $5700. The original incident took place in October of 2013 so we are only a couple months away from the 6 year statue of limitations. If they are trying to scare me its working and I am more than pissed off that this is coming back around again. I am going to talk to a new attorney on Wednesday but this seems to me like a clear cut violation. Then I realized the debt collectors address is now Philadelphia and that is where I have been getting dozens of calls from over the last couple months, also violations of the FDCPA. I'm also considering contacting the FTC and the BBB but I wanted to talk to the lawyer first. I kept all the correspondence from 2015 also. Does anyone have any input or advice for me?
      • 31 replies
  • Posts

    • In the pre internet days when people subscribed to newspapers there was a classified ad for a guaranteed unsecured Visa regardless of credit history.  Being young and naive I called to make an appointment at the office to get the card.   The deal was a $100 app fee but the kicker was your CL was determined by how much you spent on a mail order catalog. I believe you got 30% on the amount you spent. Needless to say the items were at least double retail price. Bought a watch for $800 and my Cl was around $250 but the same item could be had for around $400 at other places. Forgot the bank so I was scammed out of $500. Just cut up the card after using it a few times since there was also a maintenance fee monthly.
    • https://www.foxbusiness.com/personal-finance/irs-new-1040-draft   Here's my question - who still files their taxes on paper in this era of Turbo Tax and other low cost filing software?
    • As CTSoxFan said, I highly doubt the builder will delay the closing by 2 months, especially if it is a large national. That being said, I have three questions... and I can provide you with a comprehensive recommendation.   1.) Is the builder paying any of your closing costs? (called a seller concession, or a seller "credit" toward closing costs) 2.) Rather than a down payment of 3.50%, do you have enough cash on hand to put down 5% (another $6600)? 3.) Do you happen to know what your Debt-to-Income (DTI) Ratios are?
    • PMI is Private Mortgage Insurance, and relates specifically to conventional financing at greater than 80% Loan-to-Value (LTV). With respect to FHA financing it's actually just referred to as MI (Mortgage Insurance). Otherwise, of course what Glacier said is true, however... your effective interest rate (APR) would be less than it currently is, INCLUSIVE of mortgage insurance... and over the next two years - which is how long you would need to wait to refinance with a conventional agency loan (FannieMae or FreddieMac) - you would save money, so you really have nothing to lose. It's actually possible, that in two years, rates have risen to a point that a refinance is not feasible with any type of mortgage product. In that case, you will have lost, even if otherwise, you continue to pay mortgage insurance for the life of the loan (with FHA financing secured now). If instead refinancing into a conventional product in two years does in fact make sense, then you win again... It's all about proper debt management.   
    • You could get a streamline done... the transaction would need to be underwritten with an investor that disregards your scores (for a streamline refinance), which there are very few of, even though FHA guidelines allow for it. That being said, what are your scores?

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