US Bank says my loan is "Investor Owned" and they can't offer me a loan modification, any other options for me?

I have a 5 year ARM and it is up in Dec. I had to let go of my second property in AZ. My credit is shot. (Aurora Bank strung me and my cash buyers out for 7 months before still Foreclosing on the house) I ran out of savings. My parents have been helping me pay my bills but that money has just about run out. I just got a corporate part time job with a strong possibility of full time hours soon, so I show an Income to Refi. US Banks says since my home is an "Investor Owned" loan and it’s not a freddie Mac or Mae home, they can’t offer me a loan mod, forbearance…nothing. I have about 50K equity in it. I want to refinance it and get these good load mod’s that so many people have received. Any other options for me on dealing with US Bank. I heard about stopping payments, putting a restraining order against the banks… I am not sure what that is all about. But basically I want to know if there is any other avenue for me to go down that is legit to get a better loan. I am thinking of having my parents be on the loan and get a new loan entirely. I have bad credit due to the short sale tactics of my AZ property. This is a Ca home in Orange County if that makes a difference. I’m also renting two rooms in the house and we all live together, so if there is some kind of renter protection clause, let me know. Please let me know if there are any assistance programs available to me and or any options, ways of going about this that I should know about. Super Thanks!

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2 responses for US Bank says my loan is "Investor Owned" and they can't offer me a loan modification, any other options for me?

  1. staz says:

    Did you try for a government loan modification or just one from your bank? You can learn more about government loan modification programs at maybe they can help.

  2. If I understand right, you have equity and want to keep your house, but can’t afford the payments and cannot refinance or get a loan modification. You may be able to try working with some independent lenders, but you have to be careful with who you choose.

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