OfflineHi DG family,
My mother suffered a stroke in June of last year that she is still in recovery from and though she is slowly getting improvements she is not able to come home yet. She has a house that is not finished being paid for and with her not being here but in a rehabilitation center all her funds go there.
I have no help with her home and a am not able to pay her mortgage and trying to do loan modifications is not a for sure thing. I must be realistic and say there us a chance we may have to sell the home before it becomes foreclosed upon.
I am so new to this I have put in work trying to learn how to find deals, find investors (which I'm still finding that hard) and eventually hold properties to sat®t a legacy for my family. I pray and I believe so strongly in GOD and all that he has and will do. With all my faith I know that I can no longer sit without trying something myself so I ask for advice guidance or a true saint to assist in what should I do.
I would love for her to keep this home she worked so hard to finally call her own but I also don't want her to finally come home and be in worst debt. Help Advice PLEASE.
Thank You and Many blessings and well wishes
WITH GOD ALL THINGS ARE POSSIBLE
I would advice that you get an authorization letter signed by your mother so that the bank will talk to you about the mortgage, etc. of the property. Once you have the letter, mail and fax to the bank. I would first ask the bank if they can help your mother in any way to avoid foreclosure.
If you don't get any assistance from your bank, try contacting HUD (link below)
http://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure
call them and ask for a contact person and phone number in your area.
Wishing you the best of luck for both you and your mother.
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Always keep in touch with the bank, Valerie has a good point.If you can speak for her then you can work out a deal with them in her behalf, they will understand...
Loan modifications can take a long time,I know people who went through them and it took 3 years,but they did save there home but there are some banks that are slow about this.You are at the right place for good advice keep asking till you get what you need.
Good luck
Aaron-nSuzy