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Answers (5)
Best Answer
- Tracy Larkins, "Cobalt Financial"
- Contributions:649
- Marlene Berrier, "marlenesellshomes"
- Contributions:23
If you have to pay, it is a scam - you should only talk to your loan servicer.
- Christine Hynes, "LoanModSpecialist"
- Contributions:543
Sounds like you just got the usual marketing solicitation. You can research them on the internet to see if they are worthwhile or not. You have a couple options, either try it yourself or hire an Attorney to handle it. It all depends on how much time your have and if you feel comfortable doing it. We have alot of information to educate you. We also have Attorneys that will handle it for you has well and they are reasonable.
Don't feel pressured by anyone you talk to and if it sounds to good to be true then it probably it. Just use your common sense and educate yourself.
- Linda Rozales, "Lrozales"
- Contributions:245
If you need a loan modification, please call your lender directly. Before you call, make sure that you have your financial worksheet infront of you that has the following: Total gross income, total monthly debts (minimum payment required) i.e. credit cards, car, child support etc. Also, write down all your living expenses, i.e. utilities, cellphone, cable, food/groceries, gas/maintenance for your cars, etc plus all mortgage payments including property tax, home insurance and HOA. Your lender will also need a reason for your financial hardship, so you will also need to have this handy. Loan modification takes 60-90 days and will need a lot of patience. Lastly, you will need to document every call, fax & mail that you make with your lender by having a notebook or pad paper that you can use to log the time, date and contact name of the person you talk to plus phone numbers, conversation/action. You will definitely need this every time you call so you can refer back to your notes when they can't find their notes on your last conversation, fax or mail.
Good luck!
Good luck!
- lilredsrain
- Contributions:3
I already called my lender to ask for a loan modification and I was told no. I was with H & R Block mortgage and ended up with B of A. I told them my statistics that I was on disability and my husband was just diagnosed with cancer. I have a 1st and 2nd mortgage through two different lenders and I owe twice what the home is worth. She told me to downsize. The word moron came to mind.
I received a Mortgag Bailout Notification in the mail yesterday from some company in fremont? Real?
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