http://www.jdanielrealty.com/orange-county-real-estate-news/bob-mccormick-short-selling-home/ Your source for Orange County Real Estate information Fri, 28 May 2010 17:44:58 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.jdanielrealty.com/orange-county-real-estate-news/bob-mccormick-short-selling-home/comment-page-1/#comment-67 Catherne Davis Wed, 12 Aug 2009 01:23:44 +0000 http://www.jdanielrealty.com/orange-county-real-estate-news/?p=220#comment-67 I am a home owner. I have a CALHfa loan FHA. I can't get this loan modified by my mortgage company because they said that they can't lower the interest in this type of loan. I don't understand why there would be such a loan that you can't do anything to it when you are having financial hardship. I am behind in my mortgage 3 months. The only thing I was told that they could do if I qualify is to put the 3 months late on the end of my loan. But, this doesn't help me to be able to lower my mortgage so I can pay my mortgage and not loose my home. I spoke to another lender and i was told that this kind of loan is tricky to modify but it can be done if I ask to have it done as a "subordinate loan". I don't know if this is really true or not. I haven't been successful yet to get some help. I know that there has to be away some how. I just don't know who to talk to that really know about these types of loans. I spoke with several people at the CALHfa agency but they can't answer my questions. I keep getting "I think" or "I'm not sure" answers. If you can help, please let know what I should do or talk to. Thank you for your immediate attention to this matter. Catherine I am a home owner. I have a CALHfa loan FHA. I can’t get this loan modified by my mortgage company because they said that they can’t lower the interest in this type of loan. I don’t understand why there would be such a loan that you can’t do anything to it when you are having financial hardship. I am behind in my mortgage 3 months. The only thing I was told that they could do if I qualify is to put the 3 months late on the end of my loan. But, this doesn’t help me to be able to lower my mortgage so I can pay my mortgage and not loose my home. I spoke to another lender and i was told that this kind of loan is tricky to modify but it can be done if I ask to have it done as a “subordinate loan”. I don’t know if this is really true or not. I haven’t been successful yet to get some help. I know that there has to be away some how. I just don’t know who to talk to that really know about these types of loans. I spoke with several people at the CALHfa agency but they can’t answer my questions. I keep getting “I think” or “I’m not sure” answers. If you can help, please let know what I should do or talk to. Thank you for your immediate attention to this matter.
Catherine

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