Home Loan Modifications Homepage

Reliable home loan modifications information

What is a reliable company to do home loan modifications?
they all seem like scams

Are home loan modifications really working out for people going through financial hardship?

Who can help with home loan modifications?
I have been trying to work with my bank on modifying my mortgage since July of last year and I'm still in the same place. I am with Coldwell banker and I cant seem to get any answers from anyone, just the run around and that's " its in review" for a whole year . I have lost about 70K in my homes value during the recession and still have an 8 % interest rate. I have made my payments on time for the past 3 years but since I have lost my job my income has gone down. I dont want to lose the house. Can anyone give me alternatives of who I can contact such as lawyers to help get my mortgage payments down by modifying my loan??? I have already been scouted out by scams, any legal info would help Thanks for all info

What are our chances of a successful home loan modification?
We are in the process of applying for a home loan modification for the third time. We are still in foreclouser, but they told us to apply again. The first time, they put us on a trial period for three months and our payments were $635.35. After that, Chase brought Wamu and they sent us all the paperwork again. We were put on another trial period and paid $600 a month. After that ended, we got a letter saying we were denied because they said we didn't make all the trial period payments, which we did. We called them and they said to apply again. We sent in all the paperwork and got a call saying it was in review. We brought our house in 02 for 90k with an intrest rate of 7.125 %. Our house payments are $1005 per month. My husband's company closed down and he was without a job for almost a year. He did find employment, but at a lot lesser wage. Our total monthy income before taxes is $2308 and all our bills not including the mortgage payment adds up to $1667. Do we have a chance in hell of getting a loan modification? If we do, does anyone know what our monthly paymetns would be? I've been reading that Chase is the hardest to get one from. Is there anything we can do to increase our chances? I'm still prepared for the fact they might not approve it, so I have been looking at other places to move.Does anyone know what the minimum amount is to qualify for one?

I am going to try for a home loan modification thru Obama's Hope program.?
I was arrested for OWI last Nov, and as a result has created a financial strain. Is this acceptable to use as a hardship reason in hopes of qualifing?

Does someone have to be employed to qualify for a home loan modification?
What are all the requirements? I called Countrywide now B of A they wanted me to make a detailed list of all my expenses from phone bill to groceries and whenever I call back it's like a game passing me from one department to another without anything getting done month after month. Should I just stop making payments and save a few bucks before I go into foreclosure if that's where things are headed without a loan mod? Feels like that's what they prefer, am fed up. Let them have the house, it's worth less than my mortgage anyways and they're not being of any help to try to reduce the payments. Am I missing something?That's a great idea, I'm all for a class action lawsuit. My cell phone records will show the date times I've called those bastards. They keep giving me the run around. What right did Obama have to give them our tax dollars without any stipulation that they should use it to help us??? IT is all a corrupt bull and I'm not going to take it any more.

When doing a home loan modification and a BPO has been requested and completed, what's next?
Does that mean the process is getting close to being completed?

Home loan modification question?
My husband and I currently going through the home loan modification process. Has anyone else gone through the process? What was your experience and did you notice a negative impact on your credit report. They are telling us at Bank of America that the trial payments will not be applied to your loan right away but be put in escrow account until the modification is perm, then they will be applied the oldest past due balance. They will report to the credit agencies that you are 30 days late on your payments too. Also it was pure hell to get this far. We have never been behind or late, but we have exhausted our savings, borrowed money from family, and husbands 401k. This is all do to a job loss and some health issues on my part. Please tell me your experience with this process, also has anyone dealt with Bank of America?It has taken 4 tries to get this far. the one thing that concerns me is that when they recieve your modifcation payments they put them in escrow and don't apply them to your mortgage payments until the modification is final. so all along they report the credit agencies that you are late, so no mater what you do it will impact your credit in some way. You think they would bend over backwords so they could prevent the cost of foreclosure fees they would have to pay. But these banks just are so hard to work with. 1st 3 times they said we didn't have enough income...duh that's why we applied. then the 4th time they sent the trial modification payment plan. we also looked at refinancing but it would have added to our balance of the loan and only lowered our payments by like $50.00 where the modification has lowered them by $160.00 something.Also to refinance was like $5000 we had to pay $400 up front then the rest of the $5000 would have been added to loan balance after we have worked so hard to get the balance down.Attention Landlord......we did do the loan modification to increase our spendable amount we did it because we were afraid of lossing our home, do my job loss and my continuing illness. you have not right to judge unless you know the circumstances. Alls making home afordable program is for people having a hardship problem that might make them become late on payments, you don't have to be late or behind on payments to qualify. lead about it. I don't care for you attitude or answer. I don't know how you ever became a top contributor.

How long did it take before your bank gave you a home loan modification?
We applied almost a year ago and we call every week, they keep saying that our case has been assigned and that we will hear from someone soon but week after week we don't... They also won't tell us the person who has our case.. What should we do? We don't want to get a lawyer .. Thanks and what scam would that be? Your saying our bank is scamming us?

Home loan modification and other options?
My husband was laid off last year but luckily found a job. The job paid $2,000 less a month. In the past year we have cashed out two 401K to meet our monthly expenses. I've always paid my bills on time and our credit score is about 760. Recently We've been looking into refinancing our home to a lower interest rate currently at 6.675 % Our income is too high for the government modification. Our house appraised for $100,000 less than what we owe on the loan so we were unable to refi. There are forclosures all up and down our street with several houses that are abandoned looks like squatters have moved in next door so we know that we could never sell our house even in a short sale. It seems like the bank would want to help me stay in my home and make regular payments at a lower interest rate. Anyone have any suggestions other than walking away? I'm in Southern California.Hey thanks tax lady for your worthless advise. For your info when my husband was laid off last year when the economy TANKED we used our years worth of savings so blow it out your A . I'm trying to save my house from a mess that the BANKS made not the mess that I made.

What is the difference between affordable home loan modification and refinancing.?
Does loan modification cost me more than loan refinancing. Is the loan provider interested in doing loan modification.

Does a home loan modification lower the balance?
I have spoke to several different " professionals" some have told me that they can lower the balance and the interest rate. Then I talk to my mortgage lender and they tell me they will not adjust the balance only the interest rate. Please help me w any information, Thanks

Will leasing or buying a car affect my home loan modification process?
I currently don't have a car, but I need one for work now. Started modification process one month ago. thanksMy car is paid off. My live in girlfriend needs a car. I have good credit, she doesn't. She will be responsible for making payments. I can take out car myself or I can co sign for her. What is best, that won't affect my modification process???My car is paid off. My live in girlfriend needs a car. I have good credit, she doesn't. She will be responsible for making payments. I can take out car myself or I can co sign for her. What is best, that won't affect my modification process???

What are usual terms for a home loan modification?
Do they convert a ARM loan to fixed? Do they just lengthen the term of the existing loan? Does the home owner have any choices on terms?