Latest Posts
Home > Ask The Get Out of Debt Experts > Lost Job, Wife Left, Behind on House and Farm. – James

Lost Job, Wife Left, Behind on House and Farm. – James

I refinance my home and did major renovations in 2005. I am a self-employed general contractor in the state of Florida. Well we all know what happen next. Work stopped. my credit scored fell 300 points. My wife divorced me. I have two notes one on my home and one on my farm. I declared chapeter 13 and I am trying to save the farm. My attorney felt I would not be able to save the home. I have been approved twice by chase for loan modification. I made my temporary payments as agreed. I was turned down after the required payments were met.

I have been in communication with chase with the help of Senator Marco Rubio and Senator Bill Nelson. Senator Rubio urged chase to review my loan and Senator Nelson had Fannie Mae contact me to deterime if my loan is backed by them. (I do not know).

I was again turned down by chase today. The statement used:

The underwriter reviewed your loan with the documentation on file. The underwriter denied the modification due to excessive forbearance and Negative Present Value.

I assume Negative Present Value means I am upside down. I do not know about excessive forbearance. No agreement was ever made between us to stop forclosure. Can you explain and what are my options?

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Consumer

This is information that was submitted by a third party and not generated by or Steve Rhode.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.