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Flitters Report | 04/28/2012 3:04 pm

Thank you faith. I appreciate it greatly. gonk

Flitters Report | 04/28/2012 2:59 pm

*sighs* Alright.....but if you guys do move tell me and the address as well okay? I don't want to lose contact..

Flitters Report | 04/28/2012 2:32 pm

Um, here. http://appeals.cuyahogacounty.us/FAQ.htm

Flitters Report | 04/28/2012 2:31 pm

Also any court questions can be answered here.

http://appeals.cuyahogacounty.us/FAQ.htm#What are the hours of the court of appeals?

Flitters Report | 04/28/2012 2:29 pm

But I don't recommend selling anything yet before everything is discussed first, and you called the bank. Please get that letter at least faith.

Flitters Report | 04/28/2012 2:25 pm

Alternative treatments


During these few months, the servicer will offer the borrower two primary options to cure the mortgage -- a repayment plan and a loan modification. With a repayment plan, the company agrees to tack, say, half the amount of the first missed payment onto each of the next subsequent two payments. These plans provide some breathing room for borrowers with short-term financial problems, such as expensive car repairs that make it too difficult to pay the mortgage for one month.





In a more serious case, the customer may have already missed two or three payments and owes a couple thousand dollars in lender legal fees. The servicer will still try to arrange a repayment schedule. But the borrower will likely have to pay a third to a half of the delinquent amount upfront, and then pay off a portion of the remaining balance each month for a year or more.





"In a repayment plan, the borrower agrees to do a payment and a half, a payment and a quarter, etc., for whatever number of months is needed to make that loan current," says Fannie Mae's Smith.





Loan modifications go a step further and they're designed for customers that can't afford repayment plans. In a modification, the servicer actually adjusts the terms of the loan to make it affordable. It may lengthen the amortization schedule or lower the interest rate to cut the monthly payments, or roll the past due amount into the loan and re-amortize the new balance so the borrower can pay the additional debt back over time.





If the customer has a more serious financial problem, such as a longer-term job loss followed by rehire at another company that pays much less, alternatives still exist. The servicer may agree to help the borrower get rid of the house via a pre-foreclosure sale. In more dire circumstances, the servicer will agree to a "short sale." In such sales, the lender lets the borrower sell the house for less than the outstanding loan amount, takes the proceeds and forgives any remaining overage. Banks are willing to do so because they often lose less on these deals than they do in foreclosures.





Some companies may consider a "short refinance," too. With these, the lender agrees to forgive some of the debt and refinance the rest into a new loan. That way, it still gets more money than it would by foreclosing. One last way to bail out of a home before things get really ugly is a "deed in lieu of foreclosure" agreement. The borrower surrenders the property deed to the bank and it sells it.





"If he has no prospects and there's no way he can save his property, getting with someone who can help him sell it as quickly as possible" is the best choice, says Michael Drawdy, first vice president at Countrywide Credit Industries Inc.'s mortgage division.





If all else fails ... 


Consumers who can't use any of these methods still have some choices. A debtor who can afford the normal monthly mortgage payment, but can't afford to make up the delinquent amount and legal fees because the lender is proposing a relatively stringent repayment plan, may want to consider filing Chapter 13 bankruptcy. Doing so temporarily halts the foreclosure process and can force the mortgage lender to accept a more borrower-friendly repayment plan, such as one that grants five years to repay the amount in arrears rather than one or two.





Borrowers who just need some extra time to sell their homes, on the other hand, should consider refinancing via a "hard money" loan. While they have very high rates and fees, the loans, usually from private individuals, can give people the couple extra months they need to find buyers. Most banks will be more than happy to take cash no matter how close it is to the foreclosure sale too. If a relative steps in with $10,000 to bring the loan current, a borrower can usually just hand it to the lender and go back to business as usual.


"The banks are happy to do it,"  "Remember, they don't want your house. The bank just reinstates the loan back to t

Flitters Report | 04/28/2012 2:19 pm

Did you Call the bank or lender outright and explain the situation. It may sound impossible but they can and will work with you if you reach out to them for help.

Flitters Report | 04/28/2012 2:16 pm

Well you have to appease the court jury, basically make them understand your current financial standing point, write down everything. How with your mom there letting her go more and more because of her disabled state and her job schedule now, your fathers case as well financially. As well as yours and your friend. Everyone within the house needs to pitch in and help best way as possible. Your boyfriends paying money too right? I heard he moved back in. There's around 18 days left till they take it away right? well the letter must be at least two pages long, max at least one page stating everything so they can look your case over. You have to also talk with the lawyer, you only need one really not a bunch of them. All that's left to pay is 4,000 dollars for the house. I would not see it fit that they keep the rest of the money you actually paid and throw you out. It's not right. It's not like you owe the whole thing just the rest of it which you can pay for easily. Maybe hold a garage sale? Something. The main point here is to at least get a detailed letter prepared and taken to the court. I recommend having a copy just in case so you can give it to the judge for him to read completely. My piece of advice is to not let the lawyers sucker you into paying more then necessary basically getting a reasonable price.... A typical lawyer charges $200 to $400 per hour. How much is your lawyer charging you per hour? Some lawyers who are specialized in certain areas of a case tend to charge more...Also how long is the court case going to be? Also an individual possesses the right to represent himself or herself, but may not represent other persons or wholly owned companies. So I guess a lawyer would be best because if a story is switched or added on after you have said your statement it will look bad on you. Here's something that may help you.
http://www.bbrs.net/chapter13.html

Flitters Report | 04/28/2012 1:52 pm

No I have not except yesterday for a few minutes when he was able to even get online. I had a bad dream that's why I had to ask. Tell him I said "Hi" and that I miss him. So how are things with you? Is everything okay? Also what's the current standing with the fore-closer? Did you make your letter stating your current situation? In court they usually let you speak as well not just your lawyer.

Flitters Report | 04/28/2012 1:40 pm

Hey faith, its me amber, is peter okay?