Colli Real Estate

Question loss mitigation?

Hello everyone, We've hired a lawyer to deal with our loss mitigation case. Our mortgage is currently two months due. The file was with lawyers for more than three months. Took some time to gather the documentation first. We paid a gripload money in advance. But my biggest concern is how willing lenders working with people? My mortgage is with GMAC and I heard good things about them. The most negotiatior GMAC is currently reviewing the statements financial reports on file. We certainly see an event. Long story short, my mortgage payment is adjusted through the roof and I can not afford the payment amount news, the more we are upside down on the value. Success stories? Basically, the lawyers try to negotiate a better rate and lower capital, 30 year fixed rate. I am so afraid that we may end up losing our house, but optimistic because I'm hearing a lot of lenders are working with their customers. Again, success stories are appreciated. Please advise. Thx!

I am a loss mitigation consultant and it seems that your lawyers are trying to do for you is a loan modification. Basically negotiate your mortgage with a low fixed rate. As you: out of poverty, and able to make payments if your loan is brought current. How did you pay in advance? and what state you do you think? They should not charge until they complete

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