grademangler
Junior Member
What is the name of your state? Indiana
I have two questions.
I was given a reinstatement quote form my bank to avoid foreclosure. If I pay the amount by the date it is due, am I assured my mortgage reverts back to original agreement or can they change the terms of my mortgage ?
I have continually been in a catch 22 since taking out an equity loan 6 years ago. It was a mistake and I could find no way out. The money was used for roof, siding, and a used car. None of these items could be sold in order to lessen the amount of the loan. I filed a chap. 7 bankruptcy two years ago on credit cards. My ex-husband was imprisoned right after I took out the equity loan and therefore, I no longer had child support payments to supplement my income. Refinancing for equity loan and mortgage loan would leave me with a payment that is half the amount I currently pay a month for both amounts.
This would be an amount I could pay and still have money to deal with any emergencies ( car repairs, medical, ect..) Most banks will not refinance with my chap. 7,and now my reinstatement of my mortgage in my background. Can you help me find a reputable bank that might help me refinance ? I am cautious of all the banks on the prowl for people like me. I am employed as an elementary school teacher and I have been employed as such for 14 years.
I have had my mortgage loan for 14 years ,also.
Thanks for any help or guidance you can give me.
I have two questions.
I was given a reinstatement quote form my bank to avoid foreclosure. If I pay the amount by the date it is due, am I assured my mortgage reverts back to original agreement or can they change the terms of my mortgage ?
I have continually been in a catch 22 since taking out an equity loan 6 years ago. It was a mistake and I could find no way out. The money was used for roof, siding, and a used car. None of these items could be sold in order to lessen the amount of the loan. I filed a chap. 7 bankruptcy two years ago on credit cards. My ex-husband was imprisoned right after I took out the equity loan and therefore, I no longer had child support payments to supplement my income. Refinancing for equity loan and mortgage loan would leave me with a payment that is half the amount I currently pay a month for both amounts.
This would be an amount I could pay and still have money to deal with any emergencies ( car repairs, medical, ect..) Most banks will not refinance with my chap. 7,and now my reinstatement of my mortgage in my background. Can you help me find a reputable bank that might help me refinance ? I am cautious of all the banks on the prowl for people like me. I am employed as an elementary school teacher and I have been employed as such for 14 years.
I have had my mortgage loan for 14 years ,also.
Thanks for any help or guidance you can give me.