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Through November, we were up to date, now we are behind

asked 2015-05-20 16:20:37 -0800

papamau1 gravatar image

updated 2015-09-17 12:46:03 -0800

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We went through Wells Fargo initially and through December came to the conclusion that we did not need a loan modification.  (Past year bankruptsy proceeding).  Current debt to income ratio forbids regular and on time payments through August.  Very likely, unless circumstances change, we will be proactive and consistent.  The larger problem is from January to August.  The consequences of other late payments are there if we prioritize on mortgage.

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What's your question?

Grant ( 2015-05-21 16:58:56 -0800 )edit

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answered 2015-06-18 16:25:32 -0800

Daniel gravatar image

Papamau it's hard to understand what exactly your question is. Sounds like perhaps you have gotten behind in your mortgage, but if you try to catch up wtih your payments you will have be way overdue on other bills.

A couple of suggestions if this is the case. Talk to your bank about whether the HARP program could be of any benefit to you. You might think a refinance is out of the question but if it could lower your rate enough to keep you in the house and more up to date on payments, the bank might go for it. Especially since that would probably be cheaper for them than a foreclosure, and the HARP program is designed to keep people in their home even if they are under water. If that fails you might check out some of the options and resources in Grants to Pay Bills --- just be aware there really aren't any such grants, but there are ways to legitimately increase your cash flow ...

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