Charlene
Chicago,#2Consumer Comment
Fri, March 23, 2007
Deborah, Sorry to be the bearer of bad news, if you have entered into a forebearance agreement, or hardship agreement with the lender, and you have skipped a payment, it will show on your credit report, You mention you can't wait until you can refinance for a lower interest rate. I hate to tell you, if you have less then perfect credit, missed mortgage payments, credit problems ( we have all been there) you may not be able to refinance into a " lower rate" your scenario would seem to fall into the subprime market, and if you have kept up with the news lately ( no insults intended here) a lot of lenders have changed their guidelines and continue to do so everyday, sometimes daily. The agreement that you entered into with them will have a negative impact on your credit scores, and you may have a very hard time refinancing into a new mortgage, other then hard money. I would suggest you talk directly to a bank, not a broker, as the mortgage brokers are really hurting for business and I would hate for you to be taken advantage of yet again. Good luck
Charlene
Chicago,#3Consumer Comment
Fri, March 23, 2007
Deborah, Sorry to be the bearer of bad news, if you have entered into a forebearance agreement, or hardship agreement with the lender, and you have skipped a payment, it will show on your credit report, You mention you can't wait until you can refinance for a lower interest rate. I hate to tell you, if you have less then perfect credit, missed mortgage payments, credit problems ( we have all been there) you may not be able to refinance into a " lower rate" your scenario would seem to fall into the subprime market, and if you have kept up with the news lately ( no insults intended here) a lot of lenders have changed their guidelines and continue to do so everyday, sometimes daily. The agreement that you entered into with them will have a negative impact on your credit scores, and you may have a very hard time refinancing into a new mortgage, other then hard money. I would suggest you talk directly to a bank, not a broker, as the mortgage brokers are really hurting for business and I would hate for you to be taken advantage of yet again. Good luck
Charlene
Chicago,#4Consumer Comment
Fri, March 23, 2007
Deborah, Sorry to be the bearer of bad news, if you have entered into a forebearance agreement, or hardship agreement with the lender, and you have skipped a payment, it will show on your credit report, You mention you can't wait until you can refinance for a lower interest rate. I hate to tell you, if you have less then perfect credit, missed mortgage payments, credit problems ( we have all been there) you may not be able to refinance into a " lower rate" your scenario would seem to fall into the subprime market, and if you have kept up with the news lately ( no insults intended here) a lot of lenders have changed their guidelines and continue to do so everyday, sometimes daily. The agreement that you entered into with them will have a negative impact on your credit scores, and you may have a very hard time refinancing into a new mortgage, other then hard money. I would suggest you talk directly to a bank, not a broker, as the mortgage brokers are really hurting for business and I would hate for you to be taken advantage of yet again. Good luck
Charlene
Chicago,#5Consumer Comment
Fri, March 23, 2007
Deborah, Sorry to be the bearer of bad news, if you have entered into a forebearance agreement, or hardship agreement with the lender, and you have skipped a payment, it will show on your credit report, You mention you can't wait until you can refinance for a lower interest rate. I hate to tell you, if you have less then perfect credit, missed mortgage payments, credit problems ( we have all been there) you may not be able to refinance into a " lower rate" your scenario would seem to fall into the subprime market, and if you have kept up with the news lately ( no insults intended here) a lot of lenders have changed their guidelines and continue to do so everyday, sometimes daily. The agreement that you entered into with them will have a negative impact on your credit scores, and you may have a very hard time refinancing into a new mortgage, other then hard money. I would suggest you talk directly to a bank, not a broker, as the mortgage brokers are really hurting for business and I would hate for you to be taken advantage of yet again. Good luck
Charlene
Chicago,#6Consumer Comment
Fri, March 23, 2007
Deborah, Bad things happen to good people, this is for sure. I do have a question for you though. After Household agreed to enter into a hardship or was is called forebearance agreement with you, you mention "I called customer service to see if this was true, and was told that we were paid up to date to the following month (September) So we skipped a month to try to get caught up on our Taxes" If I am understanding you correctly, you state you skipped a month of mortgage payments? Unfortunately, if you are in a hardship or foreberance agreement, you usually aren't given the ability to " skip" a month, and lenders will call the note due, because you didn't abide by the terms. Do I understand your statement correctly or am I just reading this wrong?
Charlene
Chicago,#7Consumer Comment
Fri, March 23, 2007
Deborah, Bad things happen to good people, this is for sure. I do have a question for you though. After Household agreed to enter into a hardship or was is called forebearance agreement with you, you mention "I called customer service to see if this was true, and was told that we were paid up to date to the following month (September) So we skipped a month to try to get caught up on our Taxes" If I am understanding you correctly, you state you skipped a month of mortgage payments? Unfortunately, if you are in a hardship or foreberance agreement, you usually aren't given the ability to " skip" a month, and lenders will call the note due, because you didn't abide by the terms. Do I understand your statement correctly or am I just reading this wrong?
Charlene
Chicago,#8Consumer Comment
Fri, March 23, 2007
Deborah, Bad things happen to good people, this is for sure. I do have a question for you though. After Household agreed to enter into a hardship or was is called forebearance agreement with you, you mention "I called customer service to see if this was true, and was told that we were paid up to date to the following month (September) So we skipped a month to try to get caught up on our Taxes" If I am understanding you correctly, you state you skipped a month of mortgage payments? Unfortunately, if you are in a hardship or foreberance agreement, you usually aren't given the ability to " skip" a month, and lenders will call the note due, because you didn't abide by the terms. Do I understand your statement correctly or am I just reading this wrong?
Charlene
Chicago,#9Consumer Comment
Fri, March 23, 2007
Deborah, Bad things happen to good people, this is for sure. I do have a question for you though. After Household agreed to enter into a hardship or was is called forebearance agreement with you, you mention "I called customer service to see if this was true, and was told that we were paid up to date to the following month (September) So we skipped a month to try to get caught up on our Taxes" If I am understanding you correctly, you state you skipped a month of mortgage payments? Unfortunately, if you are in a hardship or foreberance agreement, you usually aren't given the ability to " skip" a month, and lenders will call the note due, because you didn't abide by the terms. Do I understand your statement correctly or am I just reading this wrong?