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Each and every week here on the show we highlight the latest in America's foreclosure crisis this week Bob -- Dipping into the mailbag and sharing emails from you the viewers and joining me now live from.
Fox News legal analyst Bob -- good morning to -- up.
Good morning Gretchen so this is the first -- from Jean here's what she says I think it's a woman.
I am molten and my home is underwater I can afford the payments and never missed them.
Can a real estate attorney assist me to help lower my interest rates no one wants to lower the rates.
Yes there's no question that first of all if you get a competent real estate lawyer Jean and work with a competent mortgage broker in many good real estate lawyers.
Knows the ethical -- -- people to work with see if there's any programs out there that you could be eligible for now we know.
I think -- I've talked about that as of march 1 the -- two programs coming out.
And I'm gonna be covering that with our viewers to once we get all the protocols but surely it's worth going.
Talking them but refinancing.
Is not an easy thing to do and America right now because your interest rates are high.
It's becoming more difficult because lenders are refinancing the -- get some competent advice -- real -- attorney.
And a good mortgage lender to see what they can't or cannot do for you.
Okay and this one is from miss beat.
I think she wants to be in -- sense.
We attempted to modify our loan in eight different times your Bank of America finally after expensive fees we receive the loan modification however the loan is now.
Dollars and -- -- You know Gretchen this.
You remember what she said there eight different times this is such a I picked this question is such a typical nightmare that homeowners in America -- through.
What loan modifications what happened probably because I don't have all the faxes during this period of time to try to modify Gretchen she wasn't making payments from.
What -- we sign these papers with finance charges and penalties.
I would imagine what's happened is because she was so far in arrears as what had been paid.
During a period of months that went by that was all tacked on.
To the loan that was modified all the reason -- I tell people although loan modification has a place in America.
Most viewers have seen the frustration in the war stories remember it's a band aid.
And whatever money you're saving on the payment is tacked on to the loan it's not forgiven you're still gonna have to pay it back that's probably what happened.
Okay the final -- from Robert my father -- in 2011 there for years left on his mortgage which is 181000 dollars.
The appraised value of the home as 40000 dollars but it needs between 20000 to 40000 in repairs.
I have an offer for 30000.
This is like a man problem for my daughter's homework.
We -- -- what what should he do because it's in serious that's a real problem.
-- you know what what she -- what you need to do -- get a very good real estate practitioner not a lawyer but a real estate.
Person understands the area and east -- what's the future of the area.
Where this hole missed the other thing is if you have children or grand shorter you may look at NC you know what.
Although I have to put money into this maybe this is something that my father would love to have had his great grandchildren live and die on the road.
So look -- -- -- the area where that properties located get some opinions and then and then -- -- what you need to do and finally -- I do wanna say.
I've I'm preparing for a very big trial and I want to let our viewers know I'm very behind in my emails I promise you I'll get my -- -- the next week or ten days.
But that's the only reason why some of them at night.
Her because I just been behind and I apologize for that.
All right you're great guy -- -- know that you will answer all of them when you get a chance yes I do all right season thanks pop.
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