Zillow Advice: Home Buying - Home value dropped more than half :

I feel for you, it's completely ...

Mon, 04 May 2009 06:39:00 GMT

I feel for you, it's completely frustrating that the banks and lenders are so reluctant to renegotiate loan amounts. It's crazy, because it ends up costing them a lot more in the long run.

Hiring an attorney to negotiate a loan modification can be an expensive proposition, possibly costing thousands of dollars. It isn't something that many homeowners feel they can afford right now. When you take a closer look at the numbers, however, the cost of a loan modification compared to the cost of foreclosure is a pittance. The Joint Economic Committee of Congress puts the price tag at an estimated $151,000 (!) in foreclosure fees, broken down as follows:
Homeowner: $7,000
Lender: $50,000
Local government: $19,000
Impact on neighboring home values: $75,000
TOTAL ESTIMATE = $151,000

I put together a list of Arizona/Maricopa County Assistance (websites&phone numbers) as well as National Assistance info, but for some reason it's not letting me post that information here. Please email me and I'd be happy to provide it to you. Good luck with your renegotiation. Yvonne

[inappropriate post, removed ...

Sun, 03 May 2009 15:48:00 GMT

[inappropriate post, removed by moderator]

''They are doing negotiated ...

Sun, 03 May 2009 05:10:00 GMT

''They are doing negotiated workouts everywhere even as we speak. What do you think GM and a 1000 other companies are doing right now?

You truly are a moron and shouldn't talk about things of which you have no knowledge.""

THe OP is talking about getting a loan mod not a short sale. What a stupid dip$hit you are. Got to mexico, kiss a pig and have a nice life.

Well is it not about settling ...

Sun, 03 May 2009 03:13:00 GMT

Well is it not about settling a debt for less than what is due?

LOL... your talking to an ...

Sun, 03 May 2009 03:09:00 GMT

LOL... your talking to an accountant, I do understand debt restructuring ...
Someone takes a loss! make no mistake about it...

We all know that... it has ...

Sun, 03 May 2009 02:58:00 GMT

We all know that... it has to do with cramdowns.

What about short sales, [inappropriate post, removed by moderator]? Do you know what those are?

Senate defeats anti-foreclosure ...

Sun, 03 May 2009 02:55:00 GMT

Senate defeats anti-foreclosure proposal - Thursday April 30, 2009

Senate defeats bid to let homeowners seek foreclosure relief in bankruptcy court....

And so you are saying there ...

Sun, 03 May 2009 02:55:00 GMT

And so you are saying there are no "short sales" on the market, [inappropriate post, removed by moderator]?

And what are short sales? Do you even know?

Wonder what would happen ...

Sun, 03 May 2009 02:50:00 GMT

Wonder what would happen if NV was told by his employer..
"sorry I cant pay you your full wage this week"... Ha !

You sound like a cheerleaders ...

Sun, 03 May 2009 02:48:00 GMT

You sound like a cheerleaders for "failure"...

go right ahead tell your credit card, utility provider, mechanic..
you dont want to pay your obligation. See how far you go..

"short sell" = failure !