Well troops it is time to go for the juggler, the lender juggler. As you have read Countrywide is in deep ----. (dodo, your mind is in the gutter). WAMU is a close second with ALL of the others to follow. Right now is the time to get the deal you deserve.
Just as in war, confusion is YOUR best allie against the money generals.
The banks are still not sure which way to run. We just negotiated a deal with a 1575.00 payment reduction and 50,000.00 reduction in loan principal. Also, hang on, 8 months "forgiven" late payments and fees. As a cherry on top NO LATES reported.
As always you can attempt to get a deal yourself. I guess you also can repair your car. Save money, right. Remember, the lenders are "cutting" deals for their benefit. It never surprises me to see how the consumer walks right into the "lender punch". These are the same good folks who put you in that great loan program.
I will say they (lenders) are getting more creative in contacting the same people who are upside down with a solution. Sounds like an attorney standing on a busy corner waiting for the car wreck.
Here is the tip of the day. GET YOUR LOAN PACKAGE TOGETHER. 75% of all loans contain some form of error. This can be used against the lender to "leverage" a better deal.
nice info..i want to share this site to help others as well..
Do You Qualify?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
http://www.obama-loanmodification.com/
Posted by: Nancy Carlson | November 30, 2009 at 10:27 PM
2. How much does a loan modification cost?
A loan modification is free! Many 3rd party companies charge fees in excess of $1500-$3000 and most of them are scams. Your best approach to getting a loan modification is to get educated, purchase an inexpensive do it yourself loan modification kit and apply yourself.
http://www.obama-loanmodification.com/top-10-questions/
Posted by: Nancy Carlson | December 14, 2009 at 05:51 PM
You certainly got me there. This is a great reference.
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