Dealing With Mortgage Co. - Posted by V.P.
Posted by V.P. on December 18, 2000 at 08:49:04:
Hopefully some of the financing veterans here can give me some ideas.This ,I’m sure is a well known story and now it seems I have a part in it.
Due to a long list of unforeseen circumstances,I have moved into a place that I bought and completely remodeled with the intentions of selling it.Was on the market for several months,listed with a realtor (actually the one I bought it from)that gave me absolutely zero service.
It is now my home and business losses (and loss of business) have contributed to putting me two payments past due.Naturally,I have other debts and expenses that I am also dealing with.
This week,I am starting new employment and will no longer be full time self employed (for the foreseeable future) with an income that will do nothing more than meet my obligations.
Question is,is there a way to deal with a mortgage company on past due payments without expensive refinancincg? At this point I can not afford another round of points and closing costs or higher payments. That may not even be an option anyway due to the situation of the past couple of months.All of my resources have been used up with nothing but future income to work with.
The credit history that I have worked so hard to build over the past several years appears to be in jeopardy, along with the thought of buying,rehabbing and selling (for now).
I would appreciate any ideas on how to deal with my mortgage company. This property is in Texas.