Mortgage
Payments Too High? Concerned
About Losing Your Home?
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My
wife and I are live in California.
A predatory lender got us a few years ago when I had to
go on permanent disability.
We did all the right things with regards to contacting
our lender by fax and telephone, as well as snail mail.
I have been a member of The Disability Digest for the past four
years. My experience and solution are valuable, and I wanted to
share it with others so they can avoid the turmoil I went
through..
In
2002 I became permanently disabled after a great company for
whom I had worked for nine and a half years decided that my
performance was not up to par and released me. My income was
drastically reduced.
Of
course, there was the mortgage payment and other bills to pay,
so I decided to seek out a lender to refinance the loan on our
home. I did due diligence by contacting five lenders,
constructed a spreadsheet for comparison purposes, and finally
decided on one of the lenders. The company selected was American
Home Mortgage Servicing, Inc.
After five years it recast and my wife and I could no longer
afford it.
So we did what is most recommended and contacted them by
letter, telephone, and fax.
We asked them if they would reduce the payment, lower the
interest rate, and forgive the accruing interest on the interest
only payments we were making.
We tried every angle for three years to no avail. We
even sent complete packages of documents to them as they
requested, only to find out that, time after time, they lost
them or they said they never received them. Needless to say,
nothing worked and we were frustrated.
Then
our BIG break happened....
A friend of mine told me about an organization by the name of
NACA (Neighborhood Assistance Corporation of America). They are
a non-profit organization that helps folks like my wife and me
save our home with a loan modification.
It is a national organization that has offices in most major
cities. As a result, they have achieved in six months what we
were unable to achieve in three years. We will be receiving our
modification within the next three to four months.
Needless
to say we are most happy with the NACA Organization.
About
NACA:
The great work NACA does has made the dream of homeownership a reality for thousands of working people via counseling homeowners honestly and effectively.
This no nonsense approach enables even people with poor credit to purchase or refinance a loan with lower rates than those available in the open market.
NACA also provides renovation and repair assistance.
To learn if NACA may be able to help you buy a home or refinance click here or follow the link. https://www.nacalynx.com/nacaweb/index_main.aspx
I hope my experience helps you cope with the decision of finding affordable and accessible housing that meets your needs.
Charles Vaughn
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My goal is to help you restore your peace of mind about where you live and the house you live in... and isn't that something we all deserve?
Happy House Hunting!
Brian Therrien
p.s. - To Learn More about How
To Find Affordable Housing In Safe Neighborhoods Click
Here
p.s.s. Visit
our members area and learn about other resources that will help
you weave through the maze of disability related issues. Click
here
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