Supporting, Informing & Connecting People in Foreclosure
After reading other web-sites about principal reduction offers, mostly out of CA, wondering how many of us in Florida have been successful with this program?
The problem we are concerned about is, you pay three month trial, without knowing what the terms of this modification will be after the three months. We spoke with the bank, some person, who does not understand our concerns, about going into another loan with this bank.
In addition, in 2009, my co-owner filed chapter 7, now after runing his credit, along with mine, the amount they say we owe, is really not what we owe, since discharge went though in 2010. So, I won't allow him to even speak with the bank, and surely not sending three months payment in, and possible put him in another rotten situation, with possible putting the debt back on to him.
Furthermore, the reduction, leaves us still underwater, almost $100,000, with the current prices that are
in our area.
So, we would like to hear from everyone, and let us know what you think?