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trying to avoid foreclosure what can i do

i am behind on my mortgage payment by 2 months and still paying off hospital bills. i would like to keep the house but i'm not sure i could afford the fees of a refinance? i dont know. 700-710 fico accordig to 2 websites and i'm runninng out of savings quick by karenartzt846549 from Albuquerque, New Mexico. Feb 17th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,917 contributions

If your behind on your loan now, I will say your score will be much lower than 700.. anyway.. if you do not see an end in sight, then the best thing you can do is to sell your home and preserve your credit.. once your situation improves, you can go buy another.. understand that once you go delinquent 90 days, most lenders will initiate mandatory waiting periods similar to those who have had a foreclosure.. which can be 3 to 7 years before purchasing a new home.. You can also call your lender and explain that you had an unexpected medical situation which caused a substantial financial obligation.. It's possible they can take the 2 payments and put them on the end of your loan, but they are unlikely to do that if you cannot maintain your payments going forward.. Looking at the "Big Picture".. medical bills should take a back seat to your housing payment.. and lending guidelines allow for a lot of leniency when analyzing one's credit where the borrower has a lot of medical collections.. but if there are delinquent mortgage payments, the take that much more serious.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 17th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 597 contributions

If you are in a hardship period I would suggest calling your current lender and discuss your options. No that you hare 2 months behind on the current mortgage there is going to be little that anyone can do to refinance your house.

Feb 17th 2015
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Rick Schmille (Schmillenium)
#5 ranked lender in New Mexico - 17 contributions

If you are over 62 years old a reverse mortgage could be your answer. Call me at 505-250-7670.

Feb 17th 2015
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

If you have sufficient equity, the lender can include the fees as par of the loan.

Feb 17th 2015
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