Updated over 7 years ago on . Most recent reply
Negative Equity Guidance
Negative equity mortgage. One of my close friends has a negative equity mortgage for a property in Florida. The mortgage has passed through several lenders and is now with Shell point mortgage, the homeowner wants to keep the house with some help from the mortgage company, monthly payment used to be around $1100 and now all of a sudden the lender has increased the mortgage to over $2000. The homeowner has requested in loan modification, but the lender is uncooperating to help, and also cannot be contacted by Phone or Email. It appears they are keen to foreclose. Homeowner stopped paying mortgage since they were asked for over $2000 per month going back a year ago, Can anyone guide me if anything can be done at this stage?