Going into forclosure, please advise is can an attorney help to get us a new mortgage to save our home in Mi?

Question

We have been trying to get a modification with Countrywide, but have no faith in them. We have been in our home 24 years. Never missed a payment or been late. Got an Arm that has already adjusted once. Low income from Social Security Disability. The second adjustment will be in January at that time we are absolutely done, can not make house payment.

Answer 1

I currently use countrywide and they are dragging their feet on my refinance. I reached out to another bank who is going to refinance my arm into a better 30 year rate.

I advise you to reach out to another bank since you are not in foreclosure and try to refinance with them.

good luck to you

Answer 2

I suggest that you get the advise of a financial advisor or a financial analyst -- you'd get a better, more educated advise then just internet research. One good financial analyst I know is Marian Snow, bestselling author of "Stop Sitting on Your Assets" -- she wrote the book about mortgage issues, literally. You can reach her through this site:

http://www.stopsittingonyourassets.com

I suggest you look into their financial advising program.

You can also reach her through her blog:

http://mariansnow.typepad.com/assets/

Answer 3

You don't need an attorney to get a new mortgage, you need a banker or a lender.  

Your low income is certainly going to be a factor, but so is your payment history and, presumably, the amount of equity you have in the place.  

good luck!

ps - you've got some time, but you need to start shopping for a loan.

Answer 4

Try out this bank and see if your house have enough equality that you would be able to refinance to the payment that you can afford.

http://www.amerisave.com/partner/chongth...

Answer 5

An attorney is only going to offer you bankruptcy to slow the foreclosure for 6 months.   After 24 years your mortgage should have been paid off or nearly paid.  So you refinanced and pocketed some money.  And Countrywide is mad that they gave you money and now you aren't paying them.  Countrywide is doing few modifications.