Foreclosure Alternatives

Lori Heidel from Polk City, FL 

Posted on Monday, March 29, 2010

My fiance was left with a considerable amount of debt and a terrible credit rating from his divorce. I am not working right now. The house is a mfg. home 5/3 on 20 acres. The land has a 1st and 2nd mtg. Between the house and land, and two vehicles we spend almost $4,500 per month. Including the...

Angi from spring hill, FL 

Posted on Monday, March 29, 2010

Shari,How should we decide to keep or let go of our home? We are working with Affordable Homes, made all 3 pmts even though it took every penny. My husband has become disabled and I just lost my job.We put $70K down pd $220K 3 yrs ago home is worth around $100K now not sure if it's even worth trying...

x from x, NE 

Posted on Thursday, January 21, 2010

: a friend of mine’s son purchased a condo a couple of years ago. At the last minute, the mortgage company said that he would not independently qualify, and she signed as a guarantor. He later lost his job, and after about a year, without telling his mother, stopped paying the mortage and left ...

Connie from San Diego, CA 

Posted on Saturday, August 15, 2009

I have two 'investment properties' in which both tenants had to move out because of financial problems and I have not been able to find new tenant and cannot bear the expense of the mortgage and the association dues that accompany both the New York City co-op and the Park City Utah condominium. I us...

J.E. from Lakeland, FL 

Posted on Thursday, June 4, 2009

Dear Ms. Olefson, How do I do a “Deed in Lieu? This is my situation: Today I saw you on the Kathy Fountain show on the local Fox station. June 15th I will officially be behind 2 mortgage payments. As a REALTOR in this area, I am aware of the tortuous process of Short Sales. I’ve submitt...

private from private, FL 

Posted on Thursday, June 4, 2009

In February, 2009 I missed 1st mortgage payment on both my primary residence and investment property. Savings used for property down payment, credit cards cancelled after 6 months of non-usage, HELOC cancelled by Countrywide, presumably due to severely diminished property values. Countrywide e...

Michelle from Tampa Bay area, FL 

Posted on Thursday, June 4, 2009

From Fox 13 Tampa, Kathy Fountain's "Your Turn" I have an FHA loan that is not held by FNMA or freddie Mac. My home is a mobile unit. I am late on my payments. what are my options?...

Denise from Tampa Bay area, FL 

Posted on Thursday, June 4, 2009

From Tampa Fox 13 Kathy Fountain's "Your Turn" I am about to default on my mortgage. I have been trying to find an alternative with my lender for the past 8 weeks in their affordable housing program department. What can I do?...

Lesley from Tampa Bay area, FL 

Posted on Thursday, June 4, 2009

From Tampa Fox 13 Kathy Fountain's "Your Turn" I bought in 2005 with 20% down and have a fixed rate 6% mortgage. My property value has gone down 35%. Now that I am underwater I cannot refinance. My property went from $266K to $200K. Do you have any suggestions?...

Lesley from Tampa Bay area, FL 

Posted on Thursday, June 4, 2009

From Tampa Fox 13 Kathy Fountain's "Your Turn" I bought in 2005 with 20% down and have a fixed rate 6% mortgage. My property value has gone down 35%. Now that I am underwater I cannot refinance. My property went from $266K to $200K. Do you have any suggestions?...

Anonymous from Phoenix, AZ 

Posted on Thursday, June 4, 2009

We are currently behind on our mortgage by 2 months. We have a countrywide loan which is now (Bank America) our monthly payment is now been raised because the bank paid the property taxes for this current due . Because we paid our last property tax’s late. So they went ahead and paid for this tax pe...

Mark in Hollywood from Hollywood, FL 

Posted on Thursday, June 4, 2009

I purchased my house 3-yrs ago, during the peak of the real estate market. Like many homeowners who bought during that period, my property is underwater. As a result, I've fallen 5-mos. behind on my mortgage payments. I've also attempted to negotiate a loan mod. with my lender to no avail. I'm consi...

Mark Brown from Miami Beach, FL 

Posted on Saturday, May 23, 2009

Im just wondering, why would a bank agree to do a short sale? don't they lose money? ...

Cindy A. from ,  

Posted on Saturday, May 23, 2009

Shari. I saw you again on channel 10 saturday. I know you've been on that show a few times. My bank has said they will allow us to do a short sale but they want us to sign a promissory note to pay back the money the short sale doesnt cover. Have you ever heard of that? Would you advise us to do that...

Robert from ,  

Posted on Saturday, May 23, 2009

I wanted to email you this week end but our internet access at home was not working. Can you please tell me the difference between a deed in lieu of foreclosure and a cash for keys? Thanks, Rob ...

Sandra M. Carlisle from ,  

Posted on Saturday, May 23, 2009

Good morning Shari. My daughter and I have seen you many time on the news and appreciate your help. She wrote down the website and said I should email you. If I give the bank a deed in lieu or foreclosure can I buy another house? We really prefer to not rent. I think it's like throwing money away es...

Allison from Miami, FL 

Posted on Saturday, May 23, 2009

Hi. I saw you on TV 10 and am wondering if I give the bank a deed to my townhouse (I think it’s called a deed in lieu?), do I have to move out right away? My husband and I owe about $75,000 more to the bank than its worth so we have no problem giving it to the bank if we can avoid having to pay back...