Boston homeowners may need to find other ways to get a mortgage modification because the federal government program aimed at helping homeowners facing foreclosure may make matters worse. Fox News reports that local homeowners like April and Scott McMeekin are getting frustrated with attempting to modify their mortgage with their lender. The couple sought help after April became unemployed and Scott's hours were reduced. April McMeekin told Fox, "We called our mortgage company and talked to them and they actually told us about the modification and said it would be perfect for you. It will work for you guys great."
However, the process itself was not perfect. The McMeekins sent an application four times to their lender. No one gave them a straight answer. April said: "I've sent my package in four times. I've spoken to about 190 different people. Everybody gives different answers. It's in review, we need further information, we need current this current that." As the couple waited for a response, they got deeper into debt and were in default by $11,059. When they finally got a response back from their lender, they were told that they were rejected because they didn't live in their home. But the McMeekins never moved out.
Luckily, after Fox News reached out to the lender, the McMeekins were able to get a mortgage modification after all. Now the couple is saving three hundred dollars every month.
If you have had trouble attempting to get a mortgage modification, it may help to discuss your options with a Boston real estate attorney.
Make sure that you keep notes on all of your communications with the lender noting the time and date, send your lender letters via certified mail, make sure you meet all deadlines set by your lender and that you stay in your home during the process. For more general information, please visit our Related Resources links.
Related Resources:
- Homeowners Leave Obama's Mortgage Aid Program (FindLaw's Boston Real Estate Law News Blog)
- Meet With A Boston Real Estate Lawyer (FindLaw)
- MA Housing Activists Rally For Gov't Foreclosure Aid (FindLaw's Boston Real Estate Law News Blog)
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