My question involves a foreclosure in the State of: Arizona
After many months and many, many calls with both lenders and various Loan Modification firms including HUT, all hopes gone for a technicality of the original loan setup. Original loan was constucted based on the 80/20 loan and loans are with separate lenders. For that reason I am not qualified to an of the modification programs because my debt to income is not reached. However, if both combined I am at shy of %50. With a family of 5 and one income (proven many times), both lenders have denied modification.
I am going in forclosure but what bothers me the most is that lately i have received several calls from 3rd party financial companies claiming that they are calling on behalf of my landers. Fine. I was willing to talk to them but what I wasn't prepare was to nickle and dime with them on my finances when clearaly it wasn't anything more we could have done.
I am curious if these people really think we are so stupid to think the past events. All have taken our money (from realtors all the way to the top), got their bailout money after them alone screwing up the market by inflating the home prices and milions of bad loan practice, are they expecting us to nickle and dime with them and force us to keep homes now at half of the values?
What am I doing wrong? Many sites are showing how lenders are more then willing to work with home owners? Is it better to forclose?
Any help would be greatly appreciated.