Hi, I posted about my nervous breakdown a few days ago. I have a
summons from the law party of a creditor Revcare. I am in california.

The summons is for 500.00. I want to respond to the court so I don't
get a judgement against me. I intend to pay the 500.00.

However I am right in the middle of trying to get a consolidation
loan. I have two good faith estimates, one turned me down, I was too
late on too many accounts. The other seems as though they have figured
out a way to make the loan happen. The company is Seabreeze Financial.

Well I have a 172k 1st and a 49k 2nd (from the evil Household, I got
this loan in 2000 for 50k and it is still 49k, talk about predatory).
I will do just about anything to get out of the HMS (14.5%) loan. My
first is 7.35% with Citigroup. I also have a car loan for 21k payoff.

Seabreeze says they can give me a "back on track" loan. The loan is
described as a 2/28- Full. I think fixed for 2 years and then
adjustable for 28 years. I have been in my house for 6 years. The good
faith estimate was at 8% and 2054.00 monthly payments. I currently pay
about 3000.00 month for the above items now.

1. Has anyone had any experience with these types of "back on track"
loans.
2. It is a good idea to stave off BK and do this debt consol loan? My
house is work aboiut 380k - 400k. I make about 72k year. I really want
to keep my house because I hope to get married next year but only if I
get rid of some debt. I know if I can make if I just get a start.

3. Some say not to roll the car into the loan. The car is way upside
down and is only worth 6200.00 but the loan is still 21k! I plan on
selling it and never buying another car again, just leasing some
cheapy car. Any thoughts on this?

4. I am asking for only 250k loan. That should take care of
everything.

If the loan doesn't go through I am screwed and will be looking for a
BK attorney in Socal.

I saw your prior post and posted a response.

You are making a BIG mistake if you don't talk with a bankruptcy attorney
BEFORE you refinance or do anything else. By not taking that step first,
you are making things worse for yourself.

"Dennis" <dt_717va61rn42um@2by2.net> wrote in message
news:68f90b92.0310110107.6443450e@posting.google.c om... Hi, I posted about my nervous breakdown a few days ago. I have a summons from the law party of a creditor Revcare. I am in california. The summons is for 500.00. I want to respond to the court so I don't get a judgement against me. I intend to pay the 500.00. However I am right in the middle of trying to get a consolidation loan. I have two good faith estimates, one turned me down, I was too late on too many accounts. The other seems as though they have figured out a way to make the loan happen. The company is Seabreeze Financial. Well I have a 172k 1st and a 49k 2nd (from the evil Household, I got this loan in 2000 for 50k and it is still 49k, talk about predatory). I will do just about anything to get out of the HMS (14.5%) loan. My first is 7.35% with Citigroup. I also have a car loan for 21k payoff. Seabreeze says they can give me a "back on track" loan. The loan is described as a 2/28- Full. I think fixed for 2 years and then adjustable for 28 years. I have been in my house for 6 years. The good faith estimate was at 8% and 2054.00 monthly payments. I currently pay about 3000.00 month for the above items now. 1. Has anyone had any experience with these types of "back on track" loans. 2. It is a good idea to stave off BK and do this debt consol loan? My house is work aboiut 380k - 400k. I make about 72k year. I really want to keep my house because I hope to get married next year but only if I get rid of some debt. I know if I can make if I just get a start. 3. Some say not to roll the car into the loan. The car is way upside down and is only worth 6200.00 but the loan is still 21k! I plan on selling it and never buying another car again, just leasing some cheapy car. Any thoughts on this? 4. I am asking for only 250k loan. That should take care of everything. If the loan doesn't go through I am screwed and will be looking for a BK attorney in Socal.

I spoke with two BK attorneys early in the year. They both said they
couldn't help me. One said I didn't make enough to do a payment plan
with all my bills( including the ones that are in collections)
included in the chp 13. They also said that I would need to be out of
default and up to date on my mortgages before they could do a ch 7.
They in a since, said they couldn't help me and come back when I got
caught up. Bankruptcy is not something I take lightly and I do think I
can get out of this if I just get current.

dtv


dt_717va61rn42um@2by2.net (Dennis) wrote in message news:<68f90b92.0310110107.6443450e@posting.google.com>... Hi, I posted about my nervous breakdown a few days ago. I have a summons from the law party of a creditor Revcare. I am in california. The summons is for 500.00. I want to respond to the court so I don't get a judgement against me. I intend to pay the 500.00. However I am right in the middle of trying to get a consolidation loan. I have two good faith estimates, one turned me down, I was too late on too many accounts. The other seems as though they have figured out a way to make the loan happen. The company is Seabreeze Financial. Well I have a 172k 1st and a 49k 2nd (from the evil Household, I got this loan in 2000 for 50k and it is still 49k, talk about predatory). I will do just about anything to get out of the HMS (14.5%) loan. My first is 7.35% with Citigroup. I also have a car loan for 21k payoff. Seabreeze says they can give me a "back on track" loan. The loan is described as a 2/28- Full. I think fixed for 2 years and then adjustable for 28 years. I have been in my house for 6 years. The good faith estimate was at 8% and 2054.00 monthly payments. I currently pay about 3000.00 month for the above items now. 1. Has anyone had any experience with these types of "back on track" loans. 2. It is a good idea to stave off BK and do this debt consol loan? My house is work aboiut 380k - 400k. I make about 72k year. I really want to keep my house because I hope to get married next year but only if I get rid of some debt. I know if I can make if I just get a start. 3. Some say not to roll the car into the loan. The car is way upside down and is only worth 6200.00 but the loan is still 21k! I plan on selling it and never buying another car again, just leasing some cheapy car. Any thoughts on this? 4. I am asking for only 250k loan. That should take care of everything. If the loan doesn't go through I am screwed and will be looking for a BK attorney in Socal.

I think I might not have read your posts carefully enough, or maybe I am
just a little confused.

In an earlier post, you wrote,

"I want to save my house, I want to get rid of my car but I called the
other day and the BMW dealer said my car was worth 6200.00, the loan
still out on it is over 20k! I'll never buy a car again.

1. Will bankruptcy help me?"

So, I assumed that you were still thinking about bankruptcy. I didn't
realize that you had already talked with 2 bankruptcy attorneys and they
said they couldn't help you while you are in default. You said that the
reason they gave was that you don't make enough money to do a Chapter 13,
but you said you make $72,000 per year. You also said your house is worth
$380,000 - $400,000 and that you just need to borrow $250,000 against the
house to get caught up.

I have a hunch that the problem is that you have too much equity in your
house to be able to do a Chapter 7 bankruptcy and still keep the house. I
you filed, the bankruptcy trustee would say you have to sell the house and
use the proceeds to pay off your debts.

Given all of the above, it might be that trying to do the refinancing
routine is the right way to go. Ordinarily, I think it's a bad idea to
borrow against a home to pay for a car or to pay off unsecured debts. But,
in your case, it might make sense. You still might want to run this all by
one more bankruptcy attorney and go over your present situation one more
time before deciding on a final plan. I think there are some Southern
California bankruptcy attorneys who read and post here, so maybe they can
help you.

But, assuming that what you really need is a way to get a $250,000 loan on a
$380,000 home in California, you might want to try posting some of this at:
alt.org.natl-assn-mortgage-brokers for some ideas and assistance. I know
that some California mortgage brokers read and post messages there and can
probably offer you some specific mortgage assistance and suggestions.

Good luck.

"Dennis" <dt_717va61rn42um@2by2.net> wrote in message
news:68f90b92.0310121253.52de3f6@posting.google.co m... I spoke with two BK attorneys early in the year. They both said they couldn't help me. One said I didn't make enough to do a payment plan with all my bills( including the ones that are in collections) included in the chp 13. They also said that I would need to be out of default and up to date on my mortgages before they could do a ch 7. They in a since, said they couldn't help me and come back when I got caught up. Bankruptcy is not something I take lightly and I do think I can get out of this if I just get current. dtv dt_717va61rn42um@2by2.net (Dennis) wrote in message
news:<68f90b92.0310110107.6443450e@posting.google.com>... Hi, I posted about my nervous breakdown a few days ago. I have a summons from the law party of a creditor Revcare. I am in california. The summons is for 500.00. I want to respond to the court so I don't get a judgement against me. I intend to pay the 500.00. However I am right in the middle of trying to get a consolidation loan. I have two good faith estimates, one turned me down, I was too late on too many accounts. The other seems as though they have figured out a way to make the loan happen. The company is Seabreeze Financial. Well I have a 172k 1st and a 49k 2nd (from the evil Household, I got this loan in 2000 for 50k and it is still 49k, talk about predatory). I will do just about anything to get out of the HMS (14.5%) loan. My first is 7.35% with Citigroup. I also have a car loan for 21k payoff. Seabreeze says they can give me a "back on track" loan. The loan is described as a 2/28- Full. I think fixed for 2 years and then adjustable for 28 years. I have been in my house for 6 years. The good faith estimate was at 8% and 2054.00 monthly payments. I currently pay about 3000.00 month for the above items now. 1. Has anyone had any experience with these types of "back on track" loans. 2. It is a good idea to stave off BK and do this debt consol loan? My house is work aboiut 380k - 400k. I make about 72k year. I really want to keep my house because I hope to get married next year but only if I get rid of some debt. I know if I can make if I just get a start. 3. Some say not to roll the car into the loan. The car is way upside down and is only worth 6200.00 but the loan is still 21k! I plan on selling it and never buying another car again, just leasing some cheapy car. Any thoughts on this? 4. I am asking for only 250k loan. That should take care of everything. If the loan doesn't go through I am screwed and will be looking for a BK attorney in Socal.

OK, so talk to your mortgage company about getting caught up on your home
loan. It took us almost 8 months to do it but we tightened our belts and not
only caught up after they put us on a re-payment plan but also saved enough
to start our BK. Our mortgager was very happy to help us catch up and we
stuck to the plan like glue. We did without a lot and ate a lot of hamburger
but we are able to save our home from a judgment against us so it's more
than worth it. BTW, last thing I would want to do is to put my home in harms
way. Refinancing is just taking all the equity out now. It sounds real good
until you think about retiring and having a big mortgage, no equity and
nowhere to go. I once owned a home where it cost me to sell it because we
did just that, took a second mortgage on a VA loan, really a dumb move.
Listen to the attorneys you spoke with and get yourself caught up on the
house first, let all the other stuff go to hell. BTW, I don't know what your
state does but here bill collectors can garnishee your wages and attach your
house with a lien making any future sales difficult for you.

Wendy

"Dennis" <dt_717va61rn42um@2by2.net> wrote in message
news:68f90b92.0310121253.52de3f6@posting.google.co m... I spoke with two BK attorneys early in the year. They both said they couldn't help me. One said I didn't make enough to do a payment plan with all my bills( including the ones that are in collections) included in the chp 13. They also said that I would need to be out of default and up to date on my mortgages before they could do a ch 7. They in a since, said they couldn't help me and come back when I got caught up. Bankruptcy is not something I take lightly and I do think I can get out of this if I just get current. dtv dt_717va61rn42um@2by2.net (Dennis) wrote in message
news:<68f90b92.0310110107.6443450e@posting.google.com>... Hi, I posted about my nervous breakdown a few days ago. I have a summons from the law party of a creditor Revcare. I am in california. The summons is for 500.00. I want to respond to the court so I don't get a judgement against me. I intend to pay the 500.00. However I am right in the middle of trying to get a consolidation loan. I have two good faith estimates, one turned me down, I was too late on too many accounts. The other seems as though they have figured out a way to make the loan happen. The company is Seabreeze Financial. Well I have a 172k 1st and a 49k 2nd (from the evil Household, I got this loan in 2000 for 50k and it is still 49k, talk about predatory). I will do just about anything to get out of the HMS (14.5%) loan. My first is 7.35% with Citigroup. I also have a car loan for 21k payoff. Seabreeze says they can give me a "back on track" loan. The loan is described as a 2/28- Full. I think fixed for 2 years and then adjustable for 28 years. I have been in my house for 6 years. The good faith estimate was at 8% and 2054.00 monthly payments. I currently pay about 3000.00 month for the above items now. 1. Has anyone had any experience with these types of "back on track" loans. 2. It is a good idea to stave off BK and do this debt consol loan? My house is work aboiut 380k - 400k. I make about 72k year. I really want to keep my house because I hope to get married next year but only if I get rid of some debt. I know if I can make if I just get a start. 3. Some say not to roll the car into the loan. The car is way upside down and is only worth 6200.00 but the loan is still 21k! I plan on selling it and never buying another car again, just leasing some cheapy car. Any thoughts on this? 4. I am asking for only 250k loan. That should take care of everything. If the loan doesn't go through I am screwed and will be looking for a BK attorney in Socal.