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.
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