Has anyone received a loan modification, in need man behind on your mortgage?
We have recently applied for a loan modification, however we are not currently at the rear. But my husband's salary has merely decreased by 35%, and we will shortly be in arrears.
Answers:
Your are still surrounded by good shape. This is why most loan mods are being done today. Your loan mod agent should own said something to you about that. On the other-hand, if you are applying by yourself, you have a especially hard "row to hoe" and the processing time with the lenders is approaching one year. If you are not represented by a loan mod Co. contact me by email and I can supply you next to enough information to make an informed judgment. Loan mods is what I do. Source(s): http://www.cnn.com/video/?/video/living/2009/04/16/gutierrez.foreclose.phone.cnn
It depends on your lender and their specific requirements. Some lenders won't consider you unless you're aft. For others, the hardship (decrease in salary) will do. The Making Home Affordable program will only consider you if you're on-time. That may be a better option for you. If your loan is back by Fannie Mae/Freddie Mac, then they can help you refinance. If you are unsure, you can check online at http://www.castlelawgroup.com/loanchecker.html. Also, here may be errors or loopholes in your original loan documents, especially if your loan originate between 2004 and 2007. If you suspect that is the case, a loan attorney would know how to scrutinize your loan papers and if they find anything, use that to negotiate a better deal for you. Source(s): http://www.castlelawgroup.com
its worth a try, but most bank wont even talk to you till your behind.
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Answers:
Your are still surrounded by good shape. This is why most loan mods are being done today. Your loan mod agent should own said something to you about that. On the other-hand, if you are applying by yourself, you have a especially hard "row to hoe" and the processing time with the lenders is approaching one year. If you are not represented by a loan mod Co. contact me by email and I can supply you next to enough information to make an informed judgment. Loan mods is what I do. Source(s): http://www.cnn.com/video/?/video/living/2009/04/16/gutierrez.foreclose.phone.cnn
It depends on your lender and their specific requirements. Some lenders won't consider you unless you're aft. For others, the hardship (decrease in salary) will do. The Making Home Affordable program will only consider you if you're on-time. That may be a better option for you. If your loan is back by Fannie Mae/Freddie Mac, then they can help you refinance. If you are unsure, you can check online at http://www.castlelawgroup.com/loanchecker.html. Also, here may be errors or loopholes in your original loan documents, especially if your loan originate between 2004 and 2007. If you suspect that is the case, a loan attorney would know how to scrutinize your loan papers and if they find anything, use that to negotiate a better deal for you. Source(s): http://www.castlelawgroup.com
its worth a try, but most bank wont even talk to you till your behind.
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