Tag Archives: mortgage modification
Heroes Are Rich AND Poor
Millions of homeowners had high-paying jobs and lots of savings and lots of home equity when this economic mess started. Congratulations. And, a special “shout out” to those of you who still do.
Mortgage Modification Rejections Are Good, Hope For A Mortgage Modification Rejection, Please Reject My Mortgage Modification Application!
It’s just part and parcel of the mortgage modification process in 2010 – REJECTION! Lenders can’t deliver performance levels that satisfies anyone in spite of over two years of work and over eighteen months of financial incentives from the President’s Making Homes Affordable Modification Program (HAMP). Even well qualified applicants are getting rejected. Sometimes, more than once.
How Do Short Sales Work?
If the value of your home has declined below the amount you owe on ityou are said to be “upside down” or “underwater”! Both terms conjure up negative thoughts, and, rightly so. With all the due diligence you put into the purchase, and all the business acumen, actuarial smarts, underwriting/appraising and brokerage experience put into the lender’s decision to accept the home as collateralit’s a strange thing indeed that the deal went south. But, it did go south. In fact nearly 20 million homeowners in the US are facing this scenario right now. It’s psychologically bad for all of them. It’s financially bad for those who must sell because of a job loss, reduction in pay, divorce, death or other reason. For them, it’s a financial disaster.
Negotiating For Loan Modifications
Are you a great negotiator? Do you LOVE car showrooms and “doing the deal” with the sales manager? Some people are just good at it! Most people are not. Even if we know what to do/so, we just don’t like doing it. But, you can be a much better tele-negotiator if you follow these rules. These are best practices that I have learned over many years of tele-negotiating for foreclosure workouts like short sales, loan mods and debt settlements.
Loan Modification Facts that You Should Know
Due to the very fact that over 3 million US families are currently struggling with their monthly mortgage and faced with home foreclosure, there has been a huge increase in the tally of loan mod applications filled out throughout the past year. The vast majority of all property owners agree that obtaining a loan mod is normally their most appropriate road when it comes to saving their mortgages.
Loan Modification and Loan Refinance Programs
As the current crisis continues there has been no sector damaged as much as the housing market. Home prices in most of the US have dropped and a significant portion of mortgage holders are struggling to maintain monthly payments. The problem has become so commonplace that many organizations are offering to assist the numerous mortgage [...]