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Good luck on trying to do your own Loan Modification. You can represent yourself in a court of law but a Lawyer will get you a better deal.
We have an Attorney backed Loan Modification Team. We have saved our Customers thousands of dollars.
Lender rating
Since October 2009
Lender rating
Since January 2009
Do not pay anyone a dime....
Start here
Lender rating
Since October 2009
Heads up everyone, the scammers will be out in force! The MOST important part of the plan is:
Beware of Foreclosure Rescue Scams - Help Is Free!
- There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor.
- Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay – walk away!
- Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
- Never make your mortgage payments to anyone other than your mortgage company without their approval.
Need urgent help? Contact the Homeowner's HOPE™ Hotline: (888) 995-HOPE
Lender rating
Since October 2009
Terry, Larry or Andrew.
I'm issuing a challenge. Please try and do this on your own. Let me know how it works out for you. BTW we do offer a money back guarantee. Although none of our customers have asked for ANY money back.
Use the link you have provided.
http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm
http://www.financialstability.gov/makinghomeaffordable/index.html
You can do this now, by yourself:
http://www.financialstability.gov/
Good luck.
Lender rating
Since January 2009
Jay,
These guidelines came out today....If I were you I would move onto your next scam...
I have actually helped clients obtain loan modification in the last 30 days. So I have done it before....I did it to help the client....I did not get paid....The way they are paying me back is by referring their friends and family to me, when they are looking for mortgages. That is all I ever ask in return for my services...a referral. If I am able to provide a mortgage for the folks that get referred to me I get paid when the loan closes...that is the only monetary compensation I get and it is only paid when the loan closes!
Lender rating
Since October 2009
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Since October 2009
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Since October 2009
Well?
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Since January 2009
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Since October 2009
I am a realtor and have assisted several customers in obtaining modifications (free of charge, of course) and depending on the lender, it can be challanging or in one case a nightmare. Just saying this so that the public doesn't think it is easy. I am hoping with the new gov backed modifications, the process will become more streamlined. I was approached by one company that charges $4000 and was offered a $1500 referral fee to send them my clients as was several lenders offered the same thing that I work with. We all agreed that was way out of line. I don't have a problem with someone charging to assist in obtaining a modification if the fee was REASONABLE, the client was not capable of handling it themselves and the person doing the modification actually new what they were doing. Problem is that there are sooooo many fly by nights out there now, consumers are bound to get stung. I think I heard 3 commercials for companies just this morning. Figure the informercials should start anytime. I am advising customers to talk to an attorney if they are already in foreclosure.
Lender rating
Since November 2009
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Since October 2009
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Since November 2009
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Since January 2009
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Since October 2009
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Since October 2009
Still waiting
Confused about something with the new modification program...
To qualify for modification, you must provide an affidavid of financial hardship. One of those hardships can be significant loss of income. I recently lost my job and my only income at the present time is unemployment insurance. How does the program work in my scenario? Will my loan be modified to 2%, extended to 40 years and principal forbeared to get my payment down to 31% of my unemployment income (which would reduce my payment from $3000/mo to about $300/mo)? This doesn't seem right; how is this situation handled?
Thanks in advance for any insights!
Lender rating
Since October 2009
Not going to happen. To qualify for the modification the lender must first apply a net present value test to your situation. In your scenario they would have a higher NPV if they foreclosed on you versus modification.
That doesn't mean you should not talk to the lender and explain your situation. Citi is lowering monthly payments for a short period of time for homeonwers that have lost their job to $500 a month for I believe 90 days which could be extended on a case by case basis until a new job is found.
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LOAN MODIFICATIONS
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