If you utilize an attorney’s letterhead and backing with a forensic audit of the file amongst a few other tricks it will go a long way and give you more leverage. Having a few high level connects at these places also helps.
sd, the approval letters are mostly boiler plate with banks these days you are correct, BUT how you request and negotiate HOW THEY REPORT IT to the bureaus is not…big difference….most people are not aware of this and do not negotiate it….
Obviously, the closer you are to the trustee sale the more leverage you have as they know they are about to own the property and take a bigger hit on the books…
By the way, if anyone has a WAMU NEG AM loan, they can be negotiated to a 1%/3%/5% 40 year term even if you are not late…..CHASE wants to clean these up right now…..and strengthen the portfolio by getting rid of these at all costs…it is called a step loan….
