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LegalKnowledge
LegalKnowledge, Attorney
Category: Legal
Satisfied Customers: 23934
Experience:  9+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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I am checking on American Home Loan Counselors to see if this

Customer Question

I am checking on American Home Loan Counselors to see if this is a legititmate company to help me save my home without a bankruptcy.
Submitted: 1 year ago.
Category: Legal
Customer: replied 1 year ago.
Chase, JP Morgan Corp. mortgage has been working me over and not setting up a payment plan to start making payments on my home again since I have gained employment. Now I owe $32,000 in back payments and growing. They are wanting me to sale the home in a short sale, and I have $40,000 in equity on the real estate. Can I get a Lawyer to fight them and make them set my payments back up or get another mortgage company to finance the total due?
Expert:  LegalKnowledge replied 1 year ago.
Good morning. I certainly understand the situation and your concern. A borrower can never force a lender to set them up with a payment plan, to pay back, in installments, missed payments. What they can do is ask for a loan modification, if the home is in the foreclosure process and see if the lender will take that past due amount, roll it into the remaining balance, extend the term of the loan and lower their interest rate, allowing them to get out of default and start paying their mortgage again. Now, if there is equity in the home, you may be able to see if a new lender would allow you to refinance the home, cash out some of the equity and use it to pay the $32,000 which is owed and give you a completely new loan. That of course, is at their discretion if they have a program that allows them to do this. While you may decide to hire American Home Loan, there is no guarantee that they will help save your home without bankruptcy, since it is at the lender, to decide about a modification.
Expert:  LegalKnowledge replied 1 year ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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