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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Equity - but maybe not enough time before forclosure Posted by Mike on March 20, 2008 at 8:05 PM Help I'm running out of time! We have a second mortgage that fell behind by 60 days while we were trying to restructure our first mortgage. They filed an erroneous NOD because they did not recognize a payment we made and when brought to their attention, they just refiled the NOD a month later. We were successful with the restructure of our first mortgage but the company holding our second is unwilling to enter a repayment plan and wants us to pay arrears at the rate of 19.95% interest! Because our house was valued @ $570,000, even w/the bad market it still has a lot of equity. I have 3 daughters and my wife makes good money, but because of my job change, we're suffering. I know we probably have a case of preditory loan, but I just want to save my house,family, and life. Bewildered in San Diego. Follow Ups: Don't fret just yet Troy 5:32 PM, 03/21/08 (6) Filing and declaring BK are the same thing (NR) Tom 12:29 AM, 03/24/08 (5) Probably Just a Clarification Troy 12:45 AM, 03/24/08 (4) Misuse of BK Tom 1:43 PM, 03/24/08 (3) Show me the Love Troy 7:51 AM, 03/25/08 (0) Re: Misuse of BK Mike 7:45 AM, 03/25/08 (1) Get a good lawyer Troy 7:53 AM, 03/25/08 (0) Re: Equity - but maybe not enough time before forclosure Mer 8:54 AM, 03/21/08 (2) Re: Equity - but maybe not enough time before forclosure Mike 9:26 AM, 03/21/08 (1) Re: Equity - but maybe not enough time before forclosure Mer 12:30 AM, 03/21/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Help I'm running out of time! We have a second mortgage that fell behind by 60 days while we were trying to restructure our first mortgage. They filed an erroneous NOD because they did not recognize a payment we made and when brought to their attention, they just refiled the NOD a month later. We were successful with the restructure of our first mortgage but the company holding our second is unwilling to enter a repayment plan and wants us to pay arrears at the rate of 19.95% interest! Because our house was valued @ $570,000, even w/the bad market it still has a lot of equity. I have 3 daughters and my wife makes good money, but because of my job change, we're suffering. I know we probably have a case of preditory loan, but I just want to save my house,family, and life. Bewildered in San Diego. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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