Section: Foreclosure prevention/Home ownership
Q:
My current mortgage is an adjustable rate mortgage, I just received a letter from the lender stating that my loan is about to adjust to a higher interest rate. I have heard that I may be able to refinance my current loan with a FHASecure loan at a fixed interest rate, what is it?
A:
Yes it is possible to refinance in some cases but only if you do so before your credit score has been effected by late payments. Time is of the essence it is to your benefit if you find out as soon as possible what your options are. Please feel free to contact one our counselors here at the office for an appointment to see where you stand at this point.
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(3) people have found this answer helpful.
Section: Foreclosure prevention/Home ownership
Q:
I am having trouble keeping up with my mortgage payments? I have received a notice from my lender asking me to contact them, The truth is I am scared to respond, what are my options?
A:
I understand your fear ;however, it is not a good idea not to contact your mortgage company when you fall behind. At JCVision and Associates we have counselors that will call the mortgage companny with you and discuss the issues that you may have. It is always better to contact the mortgage company as soon as you foresee yourself having any type of difficulty with making your monthly payments. Contact our office today and we can set up an appointment for you to contact the company and answer any other questions you may have. Not communicating with the company will only make them think you dont care and they will be less willing to help you with your issues.
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Section: Foreclosure prevention/Home ownership
Q:
I am delinquent on my mortgage loan, and my interest rate continues to increase, making my mortgage unaffordable. I do not want to loose my home, is there help for me and my family?
A:
Increasing interest rates is an issue that many are facing today. The key is to try and refinance the mortgage. Often times a person will not be able to refinance because their credit scores have gone down because of late or missed payments. It is inparative that you try to refinance before your credit score becomes to low. Our counselors here at JCVision are very good in helping people to attain a refinance loan or loan modification for our clients if they contact us in time.
There is always some type of remedy if you act in time.
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Section: Foreclosure prevention/Home ownership
Q:
I am a reservist in the National Guard, am I obligated to pay my mortgage while I am called to serve overseas?
A:
You are required to pay your mortgage will serving overseas. The Servicemembers Civil Relief Act does offer some help with increase of interest rates but there is no relief for making the actual mortgage payment. For further information do a google search on the "Servicemembers Civil Relief Act".
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Section: Foreclosure prevention/Home ownership
Q:
Who is eligible under the Service member Civil Relief Act?
A:
This act is for those serving in the National Guard. If you do a google search for Service Member Civil Relief Act it will provide you with the specifics.
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