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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I've been served with an "APPLICATION ORDER UNDER

Customer Question

I've been served with an "APPLICATION FOR EXPEDITED ORDER UNDER RULE 736 ON A HOME EQUITY LOAN" Upon receiving this I made a offer of $10K good faith and proposed a loan modification. In response I was told modification would only be considered if I came up with $21K. Last year I turned 62 and now receive $1632 a month. The mortgage was obtained in 2004 at 6.25% and payments were $769. The hearing on this matter occurs at 10 AM today (5/9/2016). I have not filed a response. Should I do so (quick)? Is it to late to do so? Do I go to the hearing? What should I expect? Please help.
JA: OK. The Real Estate Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: no
JA: Please tell me everything you can about this issue so the Real Estate Lawyer can help you best. Is there anything else important you think the Real Estate Lawyer should know?
Customer: Health problems kept me from working starting in 2011. I bought the property in 1984. I just started getting the medical care I've been needing and this (along with SS) should make a world of difference.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Legalease replied 1 year ago.
Hello there ---Is this the only loan that is outstanding against the house at this time? OR is there a first mortgage with a lower interest rate?-If there is/are more than one mortgage, are you under water in the amount that you owe on the house in mortgages all totalled?-MARY LEGALEASE
Customer: replied 1 year ago.
There is only one mtg. Original loan was from BOA. Shortly after 2011 (when I began having no income) the loan was reassigned to OCWEN LOAN SERVICING, LLC. Then recently it was reassigned to BSI Financual services. These forms paid my taxes & insurance.
Customer: replied 1 year ago.
I did a conference call with a rep for BSI and HOPE. The BSI rep seemed to think my loan could be modified if I gave them $10K. Later, I got a call telling me they needed $21K to even consider modification.
Customer: replied 1 year ago.
The day I received my "forcloser", I was admitted to critical care and had a toe amputated. Was in hospital for a week then on crutches just barely managing to get to daily follow up appts.
Customer: replied 1 year ago.
I know it is last minute but I just want to know if there is anything I can do by 10 AM this morning (or what to expect).

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