I am VERY close to foreclosure. Are there any lenders out there that will refinance? We have tried to sell it.
John Y asked:
We have tried to auction it (with a reserve), conventional sales approach, everything. We have fallen behind and done a forebearance to save it. Is there anyone out there who will refinance since the onslaught of foreclosures?
Milton
We have tried to auction it (with a reserve), conventional sales approach, everything. We have fallen behind and done a forebearance to save it. Is there anyone out there who will refinance since the onslaught of foreclosures?
Milton
Tags: Forebearance, Foreclosure, Sales Approach
June 1st, 2009 at 7:39 pm
Jimmy
I don’t think so. (Hence the market collapse.)
June 3rd, 2009 at 8:32 pm
Veronica
Champion says yes
June 6th, 2009 at 11:31 am
Roberta
Ask your lender about a short sale, or a payment plan where you make up the arrearages over a set number of months.
If it is to late for even that then you are out of luck. The past couple of weeks have brought to a halt loans of a risky nature.
Oh forget the reserve, cut it to what you owe and try and get out of the house.
June 8th, 2009 at 1:51 am
Jesus
You need to tell us what city the house is in…
June 11th, 2009 at 10:10 am
Barbara
try E-loans
June 11th, 2009 at 11:45 am
Stella
refinancing? mmm right now is not a good time i would go with flow and sell sell sell sell..
June 12th, 2009 at 9:47 pm
Sheila
This would truly depend on how close you are to going into foreclosure. All of the answers that were given were correct, refinancing is going to be VERY hard.
Do you have somewhere to move in the event that you do get foreclosed upon?
Email me and I will give you some other suggestions you may want to try - ONLY if you have somewhere to move to will these suggestions work.
June 14th, 2009 at 7:40 am
Terri
best thing to do is Short sale, or Short Refinance if possible esp if home is worth less than you bought it ..