This is a tough question…

“After 20 years of marriage, my husband and I bought our first home in 2005. Do to a personal situation my husband moved out of the home in May 2007. We have not been to court but he gives me $1500 a month towards the mortgage. When I first applied for modification, I didnt tell Carrington that my husband had left because I thought we might work things out. The application was denied for over income. Now I don’t know what to do. My rate increased significantly last month and will increase again in February. Help!!”

I see why you did what you did when attempting negotiation with Carrington for a loan modification…but it was a mistake…a common one I’ve seen many times.

Not knowing just how bankers make their decisions on who gets a loan modification versus those who don’t is something you’d not know as a layperson…so don’t blame yourself.

It is worth attempting again…especially if you’re homes value has dropped to the point where refinancing is not an option. Also, if you have yet to get a legal divorce, refinancing will not be an option either since the new lender will need to approve you based on the separation agreement which codifies your ex’s monetary contribution.

Lastly, you may want to get our book, “Stop Your Foreclosure Now!”, to learn exactly what to say, and who to say it to, to get your loan modification approved.

Good Luck to you!

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