We Can’t Afford Our House. Should We Hire Someone? – Bianca

“Dear Steve,

We are in foreclosure,My husband lost his job and my hours at work were reduced , so last year we started to negotiate with our bank to get into a loan modification, so far without success.Last year we did not qualified for any program because we were not behind in our payment and when we started missing our payments , they try different programs and they said we did not qualified for them. The value of our house went down, but we still have equity in our property.Two weeks ago we got our first foreclosure notice. We are 11 months behind.

Will help if we hire a lawyer for a loan modification or an audit mortagge specialist? If so, can you help us to find a real one ? Is scary not knowing where to go and get into a scam .

Thank You for your advice,


Dear Bianca,

Once reason you might be in foreclosure is because you just can’t afford your mortgage based on your current income.

There is nothing I am aware of that requires any lender to modify any mortgage. Mortgage modification programs may be available but you’d need to check with your lender about what programs they offer and if you would qualify for their program.

It might be time to consider selling the property before you lose it to foreclosure. It would be a shame for you to lose any equity you may still have in the property.

What I hear you asking for is some sort of tool that will intervene and allow you to keep your home. Sadly, many of the mortgage claims out there are not as legitimate as I would like for them to be.

Before you part with what little money you may have coming in, I would suggest you first read my guide, How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off.

See also  New Law Prevents Foreclosure Relief and Mortgage Modification Services From Charging an Up-Front Fee

Some of the most important questions to ask those companies you are thinking of hiring would be what guarantee the company is willing to offer and what their past performance has been like in assisting consumers.

Additionally, I’d like for you to check out these free resources to assist consumers with mortgage issues.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

Steve Rhode

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