Long Road In NJ


LoanSafe Member
Sep 3, 2012
I'm in the middle of DIL negotiations with Ditech, the loan servicer, Fannie Mae is the loan holder. House is severly underwater. I applied for DIL back in Dec of 2017 after deciding that remodification wasn't for us. We owe 347,000 and home is worth 230,000 at best. DIL was approved but lender wanted 73,000 from us payable over 10 years interest-free. We countered with 20k cash but wanted the 10k when we moved out. We are waiting currently on the Deed in Lease decision to stay here 90 days. Now I'm thinking why pay 20k and just let it go to Foreclosure. We have another house to move to asap but my question is: Now that the bank has all of our financials from applying for the DIL how likely will they come after us for the 120k? We are solvent, but have a decent income, although we are mid 50's and my wife has an autoimmune disease which is why we are in the situation we are in. She is currently working but that might not last. Does anyone have any experience with bank coming after the homeowner for judgment? I'll keep this thread updated, I'm supposed to hear from the bank in the next 2 days on whether they've excepted our counter offer.
Thanks for any input and advice!!