For those that keep saying, "the banks don't want to own my house"..

[2Bshinyandnew]

fltoo, I have to disagree with you on the MI. I agree that borrower paid MI is low - but I did find out that the lenders themselves purchased BLANKET MI for the loans in order to sell the loans. They purchased blanket mortgage insurance to 'upgrade' the credit risk. Doesn't this sound familiar?

I found this out with the multitude of short sale deals being negotiated with the 1st mtg, 2nd mtg and the mortgage insurer. Not just my customers and clients - but of course I don't have stats for the entire US. And then I experienced it personally whet my rental property when into foreclosure and I spoke directly to the negotiator for the MI company. My LTV at the time of the loan was 75%. No second.

In fact, the lenders were not cooperative because of the MI. Now, if the loan was issued early on (don't know the exact turning point, but it seems to be before 2000-2001), then the blanket mortgage insurance is probably not there.

How can I find out if my lender has MI for my loan? The loan originated in late 2003, the property was appraised at $250K at the time and the mortgage was for $150K. No 2nd. It is a Fannie Mae loan, the investor is still Bankatlantic and the servicer is PHH/Cendant Mortgage. I was advised at closing that PHH would be the mortgage servicer, and nothing has changed since closing.

Boy I hope my lender does not have mortgage insurance on my mortgage. I would love to find out for sure.

[KatInVa]

Once I get over the shock (shame)of finding out I am no longer in MY house, and am being asked to leave in 3 days (which is impossible) what comes next? I have never been through this before, and while I know my credit is shot, I am afraid to make matters worse than they are . Can anyone share their experiences, or thoughts on this. I have been told to go to court for the unlawful detainer that will be filed soon, and then file for bk. Won't a bk make things worse for my credit, or is that impossible. I just need more time to get out of here, and I work 50 hours a week, and am on call all night 5 days a week, so I don't have time to pack and find a place to live and hang out in court houses. Also, how do I pay for a bk and try to save for a place to live. I have been told to stop worrying so much because the bottom line is that "they" can't eat me...I'm not so sure.
When I was 3 I used to carry a blanket for comfort...I really miss that blanket!

(((krhsierra))) I really don't have advice just wanted to give you a hug! You will get through this!
Do you have family-friends who can help you pack? Maybe put your stuff in storage?
Been packing myself, at first I had a hard time finding boxes until one day I was driving pass a local subway. They have good clean boxes so ask them if you can have them for free.
Awful to work hard all your life and get sham like this!

[StartingOver08]

Also, jump on your local freecycle.org to get free boxes and packing materials. Someone is always moving and has left over boxes.

2B, look up Qualified Written Request (google it) and I believe the lender must answer the question. Try honey first (call the CSR's and get thru to someone that knows)...but don't hold your breath with the phone call.

[HHM]

The qualified request you are referring too is known as a
RESPA request. You might have move luck on google with that.

[fltoo]

oooh, SO, thanks for the heads up on the boxes. Son moving next month and dread going to uhaul and spending a fortune.

[krhsierra]

It's nice

Hello,
I just wanted to say that this site is really nice. At a time like this, it helps to know that I'm not alone. I wouldn't wish this on anyone, but I will tell anybody I know that is going through this to check out this site. Thanks for not being judgemental. No one in this position needs to be judged.
Thanks,
Kim H.