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Answers (4)
- Christoos
- Contributions:11
YES! That's the best part of it. [content removed by moderator for being self-promotional]
- Marcela Abal, "Marcelaa"
- Contributions:135
I have a client who was 9 months late on payments(about 12k) with Home Eq. The mod we got for her required a down payment equal to two months mortgage payments(1900$), gave her 45 days to come up with the money, and then fixed her monthly payment at 4.5% fixed. Contact the loss mitigation department at Home Eq, they DO modify.
- Bill Black MLO-49242, "Lowrates4u"
- Contributions:12
Home Eq services a majority of Green Point loans that went out of business. Each mortgage backed security can be different but here is what I personally know about them for a loan they have on one of my duplexes.
Barcaly's is actually the owner of the loan and HomeQ services this for them. I owed $279,000 on a neg am loan paying a 1% rate fererring about $900 a month. I chose to do this as I was offsetting another investment. HomeQ offers me a "short Refinance" so they would basically allow this to be refinanced at a 75% loan to value and cover closing cost.
This still makes them come in ahead if they only receive $200K on my loan since they paid 50-60 cents on a dollar. So this means they are great to work with but make sure you are using a licenesed loan officer as well as an attorney to represent you.
Feel frre to drop me an email if you have other questions or need a referral for a reputable loan modification company.
Bill Black CMP
Barcaly's is actually the owner of the loan and HomeQ services this for them. I owed $279,000 on a neg am loan paying a 1% rate fererring about $900 a month. I chose to do this as I was offsetting another investment. HomeQ offers me a "short Refinance" so they would basically allow this to be refinanced at a 75% loan to value and cover closing cost.
This still makes them come in ahead if they only receive $200K on my loan since they paid 50-60 cents on a dollar. So this means they are great to work with but make sure you are using a licenesed loan officer as well as an attorney to represent you.
Feel frre to drop me an email if you have other questions or need a referral for a reputable loan modification company.
Bill Black CMP
- StressFreeClosing
- Contributions:6
We recently put together some information on modifications. We do not do modifications but can refer you to Free resources so that you do not loose money by hiring someone.
Visit www.FreeModificationHelp.org to get your free copy.
Hope this helps.
Visit www.FreeModificationHelp.org to get your free copy.
Hope this helps.
Has anyone obtained a modification from a Home Eq mortgage servicer?, if so how
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