How do you find a lender if you have poor credit .and are behind on your mortgage?

my husbands work was slow for the first time in years and are bills were to much for us to keep up on.now that his work is busy. but we cant seem to get caught up .we are behind and need about six thousand dollars to start fresh but are credit is to bad to get a loan .i need help finding out if there is a loan office that helps people with bad credit.How do you find a lender if you have poor credit .and are behind on your mortgage?
You need to get out of this mess and if you have poor credit, you won't be able to get a proper loan. You need to sell the house and I know, you owe much more than what you could get. This is why you need to contact your lender and make arrangements for a ';short sale in lieu of foreclosure without recourse';. What this means is that you will present the offers on your home to the lender and they will hopefully approve one of them. Then the lender will accept this amount as payment in full and will not come after you for the difference.





So why would a lender ever agree to this? Lenders know that if they foreclose, they will likely sell the house for cheap since they want it sold immediately and then come after you for the difference. However, you know that if a lender sued you for 50k or whatever obscene amount, you would be unable to pay. You would probably file for bankruptcy and they would never see their money. Therefore, they may accept an offer if they know that it is more than what they would receive if they foreclosed and then sold on their own.





This is your best bet. There are some tax implications with short sales but it is better than being foreclosed and sued for a much much much larger amount. Get out of this house and rent something cheap.





Contact your lender immediately!





I hope this helps!How do you find a lender if you have poor credit .and are behind on your mortgage?
It's called a loan ';shark';. Contact your present creditors and make arrangements with them. More debt won't help you.
S P hit the nail on the head. Talk to your mortgage company.





Mortgage companies are reporting low percentages of people trying to work things out with them. I heard one statistic that with 20% of foreclosures, the borrower (you in this case) never contacted them (the mortage company).





With the current subprime mess, mortagage companies are more than willing to help you the best they can. Countrywide Financial reached out to 35,000 mortgage holders who were behind last month.





They are not going to foreclose quicker because you called and tried to work things out. They are more likely to forclose later, or not at all, if you talk with them.





Your mortage company does not want to own your house. Trust me, call them.
Yes, I do ! 1st Continental Mortgage inc. do you own your house? Do you have anything of value such as own a car clear and title in hand? call us 407-389-1166 we are a full service mortgage co. ask for tom penna