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Replies (3)
- Christine Hynes, "LoanModSpecialist"
- Contributions:543
You have to keep in mind that you already accepted a modification, so in general you will need to wait 12 months before you can try another one. It is tough when you try these modifications yourself as you don't always get the best deals purely out of not knowing what can be negotiated or how the process really works.
Also, 31% is not a hard and fast rule, I have seen our Attorneys negotiate around 38% only because that is all the bank would give and that was an acceptable reduction and also fit guidelines.
Also, 31% is not a hard and fast rule, I have seen our Attorneys negotiate around 38% only because that is all the bank would give and that was an acceptable reduction and also fit guidelines.
- catstv
- Contributions:7
My daughter has been trying to get a Loan Mod in California with Chase since September with no luck, She keeps current with all her documentation but after 3 months, her file is still under review and awaiting approval? What can she do to move the process along? She is not underwater but is having a tough time making the monthly payments due to a temporary reduction in her husbands income.
- michael seligman, "mjseligman"
- Contributions:214
First, some of these offers are really in the form of a forbearance until finished -- if that is what you have - you may still be able to talk to them. If the modification is complete, then you will have trouble since you agreed -- may people are still waiting for any offer -- The investor gets to decide what to do so the thirty one percent is just a guide. Some one should go over your exact details with you to determine the way to go.
While working with Chase bank for a loan modification.
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