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Answers (8)
Be careful Azrob, his feelings get hurt easily and he may start calling you on the phone crying as well!
- Clay Branch, "Georgia Loans"
- Contributions:7856
You cannot be a real estate licensee and work for a mortgage loan firm that writes fha loans, which really are the majority of loans here.
I didn't see notary public and licensed wet nurse on that list, did you leave those out?
I didn't see notary public and licensed wet nurse on that list, did you leave those out?
- Donnovan Stordahl, "dstordahl"
- Contributions:43
First of all Clay, you will see that I have two profiles....one as a licensed mortgage broker, and the second as a real estate professional.
Don't be confused, as Zillow only allows 4 professional tags.
If it were more, mine would be:
Real Estate Investor
Licensed Mortgage Broker
Real Estate Professional
Certified Home Specialist
Senior Loss Mitigator
Senior Loan Modifier
Short Sale Trainer
Certified Loan Modifcation Expert
Graphic Design Artist
Website Development Expert
Search Engine Placement Consultant
Since I really can't toot my own horn that much, I thought that I come sum it up in the four categories allowed.
And what would you call your titles?
Don't be confused, as Zillow only allows 4 professional tags.
If it were more, mine would be:
Real Estate Investor
Licensed Mortgage Broker
Real Estate Professional
Certified Home Specialist
Senior Loss Mitigator
Senior Loan Modifier
Short Sale Trainer
Certified Loan Modifcation Expert
Graphic Design Artist
Website Development Expert
Search Engine Placement Consultant
Since I really can't toot my own horn that much, I thought that I come sum it up in the four categories allowed.
And what would you call your titles?
- Clay Branch, "Georgia Loans"
- Contributions:7856
Donnovan, I am confused. Your profile page says:
Senior Loan Modification Specialist and Licensed Mortgage Broker
with over (10 years experience)
First National Mortgage Solutions
706 SW 89th Ave Plantation, FL 33324
A little further down it says you are a licensed mortgage boker with AmeriSave but your tag says your are a real estate agent.
Besides having a lot of hats to wear in one day, shouldn't you have a lender tag, not RE?
Senior Loan Modification Specialist and Licensed Mortgage Broker
with over (10 years experience)
First National Mortgage Solutions
706 SW 89th Ave Plantation, FL 33324
A little further down it says you are a licensed mortgage boker with AmeriSave but your tag says your are a real estate agent.
Besides having a lot of hats to wear in one day, shouldn't you have a lender tag, not RE?
"Can you tell me why Wells Fargo (not the easiest to work with) denied you for a modification? Did you give them your financials over the phone? This is typically what we see why Loan Modifications are not successful when the homeowner is speaking directly with their lenders."
Beware of Romans bearing gifts! This is very pointed speech with the "close" coming soon!
"I would recommend that you speak with a Loan Modification Specialist (Larry Jacobson won't allow me to mention companies), but obviously if you purchased a 600k house, you're smart enough to figure it out."
Larry does not make the rules, Zillow does, to protect consumers from "fly-by-night" rip off artists that may try to cease on an opportunity. Do you know anyone like that? Also note that Larry has been through a vetting process on Zillow whereas other McManufactured "experts" have not.
"Also, I wouldn't put to much faith into a responder to your particular situation that doesn't have much experience in today's market, and is only out there trying to get their name out in the mortgage business."
"Hello pot ... meet kettle. And you are doing what again? People are not as dumb as you think they are, I suggest you rethink your strategy!"
- Donnovan Stordahl, "dstordahl"
- Contributions:43
Hi Duke:
Can you tell me why Wells Fargo (not the easiest to work with) denied you for a modification? Did you give them your financials over the phone? This is typically what we see why Loan Modifications are not successful when the homeowner is speaking directly with their lenders.
Just as you had to qualify for your original loan, the same can be said about a modification. There are rules, guidelines and formulas to be considered. You can think of the process as the same as obtaining the original mortgage.
I would recommend that you speak with a Loan Modification Specialist (Larry Jacobson won't allow me to mention companies), but obviously if you purchased a 600k house, you're smart enough to figure it out.
Also, I wouldn't put to much faith into a responder to your particular situation that doesn't have much experience in today's market, and is only out there trying to get their name out in the mortgage business.
Thanks!
- Larry Jacobson, "Clearpoint"
- Contributions:1214
What can the bank do, you are able to make your payments so they see little reason to modify the original agreement. Even if they modified the mortgage to a fixed product your payment would be higher than you currently have.
It is terrible that your value has dropped but you still have to realize you borrowed money that needs to be paid back regardless of what the value of the item you bought with it is.
How much would rent be in a similar property in your area? Do you think you could sell your home even as a short sale? I know it's frustrating to pay for something that lost value but in reality every purchase you ever made on credit has lost value after you pruchased it. Tv's, Car's, Vacations, etc. all are worth less after you purchase the item but you still need to pay for the because that was the agreement.
Again I am sorry it is a frustrating position to be in but your thought process may be correct in selling short, obviously there is and should be
It is terrible that your value has dropped but you still have to realize you borrowed money that needs to be paid back regardless of what the value of the item you bought with it is.
How much would rent be in a similar property in your area? Do you think you could sell your home even as a short sale? I know it's frustrating to pay for something that lost value but in reality every purchase you ever made on credit has lost value after you pruchased it. Tv's, Car's, Vacations, etc. all are worth less after you purchase the item but you still need to pay for the because that was the agreement.
Again I am sorry it is a frustrating position to be in but your thought process may be correct in selling short, obviously there is and should be
consequences to the action but you need to do what is right for you and your family.
Can I refinance my interest only loan?
Calduke
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