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I don't trust lawyers to modify my loan unless they have a track record in Caliofrnia. Help.

  • August 06 2011 - Pasadena
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Answers (3)

You might be in a tough spot...You might want to try to modify the loan yourself...I can send you a "Do It Yourself Loan Mod Kit" if you would like...
  • August 06 2011
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Profile picture for WilliamJayCulver
My lender is formerly Indy Mac and it is now One West and their reputation precedes them in regards to their track record in granting modifications.  Now if there is someone out there who has had success with them then by all means post it but I am not holding my breath.  

Thank you for your advice though. 
  • August 06 2011
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Banks would rather deal with the homeowner directly.  The only time you use a third party is if you don't have the patience and the time to negotiate your own loan modification.  Here are some tips on working with the bank.
1)  Get organized by putting all your documents in one folder and a notebook to write down all your notes.
2)  Gather your: last 2 years of your income tax returns, last 2 months of your bank statements and paystubs
3)  Call the phone # on your mortgage statement and ask for the phone # of their loan modification department
4)  When calling the loan modification department, have your loan # available.  Let them know that yo would like to apply for a loan mod and ask for all the documents required and fax #
5)  Get a notebook to write down all your notes and your conversations with your lender including the time, date and who you talked with
6)  When faxing your documents, make sure to write your loan # at the top of each page.
7)  Call your lender after 48 hours to confirm receipt of all your documents.

You need a lot of patience in dealing with your lender.  It is very important that you get organized since you may find yourself faxing and faxing the same documents.  Don't give up.  Do you know that a HUD counselor can also assist you prepare your documents and assist you with the process.  If you are going no where with your lender, a HUD counselor can also call your lender directly and check the status. For a HUD counselor near you, please go to www.HUD.gov

Good luck!
  • August 06 2011
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