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Loan to Stop Forclosure in Stockton, CA – $1000 to $5000

Loan to Stop Forclosure in Stockton, CA - $1000 to $5000Our latest applicant is applying for a loan to stop foreclosure on his home and lives in Stockton, CA. He is looking for a loan in the range of $1000 to $5000. He appears to be getting his financial position under control. He had lost his job and in the process of trying to balance payments between taxes, mortgage payments, utility payments and putting food on the table while looking for a job his bank has decided to foreclose on the home he has lived in for the past three years.

Both he and his wife have found jobs now and are making sufficient money to handle all of their payments. They did not have an emergency fund built up when they lost their jobs. They plan to begin establishing an emergency fund once they get reestablished and have dealt with all of their cash flow issues. In the mean time they need this small loan to allow them to repay the payments that they are behind on and meet the demands of the bank. They have limited time to make this happen since the bank wants to foreclose on their home by the end of the month.

The other major advantage that this couple has is that their home was purchased at the bottom of the housing crisis and has increased in value since that time. As a result they have some equity value in the home which makes it worthwhile to pursue a loan to help them stop foreclosure on their home. They simply ran into a cash flow problem and had to make some difficult decisions regarding were to put their limited funds while they looked for a job.

Once the lenders review their situation, in particular their current employment and other debts that they may or may not have we anticipate that a loan could be approved. More information will be needed to be provided to satisfy the lenders to ensure that this is a good risk from a foreclosure loan perspective.

LOAN APPLICATION INFORMATION

Home/Mortgage Loan Amount :: $1000 to $5000

Home Loan Application and Processing Speed (when do you need the funds):: Really quick, I only have a week left before they foreclose on my home

Do you currently have a mortgage? :: yes, and I am late on the last couple of payments

Bank Name and Branch :: Bank of Stockton, E Miner Ave, Stockton

What City/Town, State and County do you live in? :: Stockton, California

Zip :: 95202

What is your employment field? :: Store Manager in the retail field

Employment Position :: Manager

When are you paid? (monthly/weekly/biweekly):: biweekly

Your credit rating to be – excellent, fair, or bad? :: excellent, right now, but if I am foreclosed on, my credit will sink

How did you find us? :: looking online for loans to help me with my foreclosure problem

How are you paid? (direct deposit/paper check):: direct deposit

Gross Amount Per Paycheck ::$1346

Do you agree to have this information published online, without your PRIVATE information of course? :: ok, just as long as you do not publish any of my personal information

Extra information here please (some detail):: Hi, I really need help to stop my home being foreclosed on and losing my home. I live in Stockton, California and have run into some trouble with my existing mortgage. I missed a few payments due to a job loss and now the bank is moving to foreclose on my home to get their money back. I have been able to get a new job and will have the money shortly to begin making payments, but in the mean time they will have foreclosed on my home and I will have lost it.

They seem to be moving quite quickly on this foreclosure and they tell me they want me out of the house by the end of the month. I cannot believe that this is happening to me. We have been here for the past three years and bought this home when it was at its lowest value. We even have some equity built up in the house now as well, so we will lose more than just the home.

Note to Lender :: Unfortunately we also did not have a lot of savings that we could rely on when I lost my job. There was no emergency fund that we could use to pay for utilities, mortgage payments and taxes. We had to make choices between what we paid and what we did not pay. They were difficult decisions and we tried to balance our payments so that we kept everyone happy, but it did not work out with the bank and now they want to foreclose.

I will have enough money in another two weeks, since both my wife and I are now working again and we just need this foreclosure loan to get us through the next couple of weeks. We can repay this loan within the next 30 days as well so we will not need the loan for any length of time. If I am going to save my house from foreclosure, I am going to need this loan approved within the next few days.

Once we get past this issue, we are definitely going to begin saving an emergency fund to get us through future financial cash flow problems which we hope will never happen.

 

Category: Home Mortgage Loan APR 4.86% APR 3.06% APR 2.98%
Loan Principal $1000 $3000 $5000
Payment Schedule Monthly Monthly Monthly
Length of Term 1 3 5
Amount to be paid $1026.32 $3141.50 $5378.64
Total interest paid $26.32 $141.50 $378.64
Paid per installment $84.34 $86.07 $88.42