I did on two properties..The first is my house. I applied for the making homes affordable program and got denied and asked why? They told me that my mortgage was current and that disqualified me. Mind you Bank of America took my credit lines and revoked two open visa accounts a few months earlier for no reason....They said they took a "snapshot" of my credit. So I went into default and re applied.
It took over a year of them losing my paperwork and making re-send to get it right. Finally they approved my loan at 2.2% Interest.
The second was a Commercial property which had a balloon due of 250k about 6 months ago. The banks would not give up the loan to me even though I have 5 years of payment history and could show the income.
I could of got the money from a private investor but I decided to go into default and after 2 months they gave me a new loan and dropped the interest from 9 to 7 %
At one time a couple years ago I would say about 25% of the people I know were actually paying on their mortgage..Tampa bay housing is still getting hit hard.
It took over a year of them losing my paperwork and making re-send to get it right. Finally they approved my loan at 2.2% Interest.
The second was a Commercial property which had a balloon due of 250k about 6 months ago. The banks would not give up the loan to me even though I have 5 years of payment history and could show the income.
I could of got the money from a private investor but I decided to go into default and after 2 months they gave me a new loan and dropped the interest from 9 to 7 %
At one time a couple years ago I would say about 25% of the people I know were actually paying on their mortgage..Tampa bay housing is still getting hit hard.