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Is any lender making Jumbo Loan modifications for loans up to $1MM?

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July 21 2009 - Larkspur
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Yes, Modifications are tricky, if you are trying to modify your mortgage, first to qualify for a Making Homes Affordable, it requires your mortgage payment to be 31% of your income. If your looking for a traditional modification it requires your mortgage payment to be 32% to 34% of your income. Also there are alot of Princible Reduction programs that are available to you for your situation. Look visit this compamy called [promotion removed by Zillow moderator]

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April 18 2012
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We have a solution at our Private Funding Company that can help you in your upside down jumbo mortgages. 

Quite simply, we buy your note at a discount from the bank with CASH, then renegotiate terms with you, the home owner to get you a MUCH lower deal, while regaining equity in the home, lowering your monthly payments and very importantly, NOT hampering your credit.

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April 17 2012
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many lenders can do jumbo loan modifications.... For further information you can visit:
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July 24 2009
Yes they will modify any property that falls into their eligibilty guidelines. This would be a traditional modification. If you can show reason for modification..hardship, budget, and availibility to pay once modified, then you can get it done. I would assume, your lender will not be that apt to help, so you may want to hire a real estate attorney. You can look at my profile for contact information if you wish to explore our availibility to help and other resources that can assist you. Best of luck
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July 23 2009
Yes lenders are doing modifications on Jumbo loans. The loan amount does not matter.  It's all about if it's in the best interest of bank to modify the loan and you proving you have the means to pay for it.  If you have took a drastic cut in pay more then likely you have to play with the "numbers" to be able to have them modify the loan.  You have to realize that in a loan modification your asking the bank to lose money on the original loan and modify it at new terms.  Let me know if you have any other questions Good luck!

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July 21 2009
 
Related Questions
Is any lender making Jumbo Loan modifications for loans up to $1MM?
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Latest answer by Mortgage Pro 1
April 18 2012 | 5 answers
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