Also in this playlist...
This transcript is automatically generated
Welcome back everyone it's never easy to rebuild your dreams that Fox News legal analyst Bob -- -- held -- police and he's answering your emails today he took a job about Bob good to see again from the thank you good morning -- so let's take a look at this one from Linda in New York I tried to get a loan modification for the last two years but was rejected.
I just found out the mortgage was sold does this help.
Anytime a mortgage is sold to a new -- in other words a new company that's gonna server -- lower rescind the payments.
It's like you have to start all over Gretchen it's very different called.
Four for homeowners to deal with this but there are new people on the block.
They really don't know necessarily what happened with the last servicer so even though Linda you've been in this modification for -- unfortunately most likely.
You have to re submit paperwork and -- all over again to get a loan modification.
And so can be frustrating for homeowners not unusual.
OK let's look at this site email from Kimberly my parents cosigned a home loan for my sister's home in Florida.
She was rejected for a loan modification in -- now in default.
My parents own home is paid for and they are worried it could be at risk can my parents transfer my sister's home to me.
To protect their house little complicated we know.
-- had no because bottom line is -- is that because they cosigned for the loan.
A lot of times it happens -- is people get panicked and and they start transferring property.
But as long as your name is still on the original note from the mortgage if you start transferring all does -- transfer title.
It doesn't take your name off the obligation under the note so bottom line is that is not a good move.
You should get some good legal advice explained professional exactly what your circumstances are to see if they can't help -- out of this jam but please don't think because you transfer title.
It takes your name off the underlying obligation it does not.
Very important very good advice now I know Bob.
You're going to -- the road again for FOX & Friends who had been rebuilding your dreams tour continues the last one was so successful down in Florida so what's your next stop.
Well you know Fort Myers, Florida it.
And Naples Florida Gretchen has been devastated it's one of the most blighted areas Serena -- out of the royal palm yacht club.
In Fort Myers, Florida November the first.
It is free to the public again it's from 6 AM.
10:9 AM November the first and I asked the people to please register right away because we fill up quick.
And rebuilding your dreams at foxnews.com.
We'll be -- broadcasting live.
I do a three hour seminar I have panels panelists to answer questions after.
I take them from how we got here how to rebuild their dreams how to protect their assets.
Fixed their credit helped them and getting their credit straightened out it just basically educating them on this frustrating circumstance -- so many people.
Have been -- November the first the royal palm yacht club Fort Myers, Florida rebuilding your dreams.
Register right away look forward to seeing them all right -- and so -- you help so many people a couple weeks ago did you ever do like headcount figure out how many people showed up.
What let me today we had over 300 people and at 6 AM in the morning.
I -- -- that's pretty good I mean we had a wonderful wonderful wonderful turnout we had no -- space to put people.
And but the thing that's wonderful Gretchen is.
You don't realize the information we're giving out we're very blessed to be able to help people.
So many people were frustrated so many people don't what to do a little what information goes a long way for people and we're very fortunate David do that and I think FOX & Friends.
For allowing me -- do that well you explain it in such good simplistic way and it's so helpful to so many people so Bob thanks so much we'll see you again next week.
Filter by section