Tag Archive
Lenders Error in Processing Loan Modification
Loan modifications are a tedious process with possibility for error at every turn and the truth is lenders lake mistakes modifying loans. Homeowners and investors are advised to interview trustworthy loan modification companies and utilize the skills of a reputable third party representative and here’s why. One of our clients received an approval for modification, [...]
Another Client Gets Modified!
Recovery Is Following Roof Tops … The following came from a CLIENT WHO JUST GOT MODIFIED!!!! “My new payment is $966.78 (original paym $1690.75) - 2% interest for 40 years. Trial period is November/December/January. Final papers will be prepared after that. I’m so happy. Thank you so much, Robin.” In these turbulent times it’s wonderful when you [...]
Principal Reductions Make Perfect Sense
The trend for loan modifications is shifting and evolving constantly. I believe the short sale syndrome will be replaced with principal reductions. Even the US Treasury endorses principal reductions as a better solution. Housing Wire supports this statement in recent article. So far lenders have been providing been band aid mortgage modifications which result in [...]
Mortgage Modifications ‘Insignificant’ to Credit Scores: VantageScore
Restructuring plans on a mortgage, whether in the form a forbearance, modification or short sale, have a relatively insignificant effect on the consumer’s credit score, said Sarah Davies, vice president of VantageScore, at the Loan Modifications Conference now underway in Dallas, Texas. VantageScore measures the generic consumer’s credit score and his or her likelihood of [...]
Agi Anderson, CDPE, compiled changes made to Make Affordable HARP refinancing program, October 2011 ~ to see if you qualify, just enter your name and email to request HARP guidelines. (make sure to check spam for email confirmation)
