loan mods – any stories?

[SD Realtor]

I recall a survey that was being discussed on the Dave Ramsey show. In that survey it showed how people will talk about various topics while clearly avoiding other topics.

The single most avoided topic was debt. Dave went through the list and it was amazing what was said. More people will talk religion, sex, and politics before they will discuss thier debt with you.

So yeah it may be an iceberg story only because the tip is visible but the numbers below it are much more (not less) then what is discussed. Because these instruments are not recorded we have NO CLUE. Nor do any appraisers! Hooray!!!

[kelly]

Yep, this is about what I’ve been encountering.

I appreciate all of your insights, though. kb

[kelly]

Yep, this is about what I’ve been encountering.

I appreciate all of your insights, though. kb

[kelly]

Yep, this is about what I’ve been encountering.

I appreciate all of your insights, though. kb

[kelly]

Yep, this is about what I’ve been encountering.

I appreciate all of your insights, though. kb

[kelly]

Yep, this is about what I’ve been encountering.

I appreciate all of your insights, though. kb

[kelly]

At long last, my story about loan modifications: http://bit.ly/10pdBB

The process of wrangling giant loan companies to lower mortgage payments for troubled homeowners has been getting a bit easier in the last few months. Still, the task is a slog, characterized by complicated rules, confusing notifications and a whole lot of waiting. About 18 percent of the applications submitted by the San Diego nonprofits working with homeowners are being accepted. Many others are falling into foreclosure. Still more are in limbo.

[kelly]

At long last, my story about loan modifications: http://bit.ly/10pdBB

The process of wrangling giant loan companies to lower mortgage payments for troubled homeowners has been getting a bit easier in the last few months. Still, the task is a slog, characterized by complicated rules, confusing notifications and a whole lot of waiting. About 18 percent of the applications submitted by the San Diego nonprofits working with homeowners are being accepted. Many others are falling into foreclosure. Still more are in limbo.

[kelly]

At long last, my story about loan modifications: http://bit.ly/10pdBB

The process of wrangling giant loan companies to lower mortgage payments for troubled homeowners has been getting a bit easier in the last few months. Still, the task is a slog, characterized by complicated rules, confusing notifications and a whole lot of waiting. About 18 percent of the applications submitted by the San Diego nonprofits working with homeowners are being accepted. Many others are falling into foreclosure. Still more are in limbo.

[kelly]

At long last, my story about loan modifications: http://bit.ly/10pdBB

The process of wrangling giant loan companies to lower mortgage payments for troubled homeowners has been getting a bit easier in the last few months. Still, the task is a slog, characterized by complicated rules, confusing notifications and a whole lot of waiting. About 18 percent of the applications submitted by the San Diego nonprofits working with homeowners are being accepted. Many others are falling into foreclosure. Still more are in limbo.

[kelly]

At long last, my story about loan modifications: http://bit.ly/10pdBB

The process of wrangling giant loan companies to lower mortgage payments for troubled homeowners has been getting a bit easier in the last few months. Still, the task is a slog, characterized by complicated rules, confusing notifications and a whole lot of waiting. About 18 percent of the applications submitted by the San Diego nonprofits working with homeowners are being accepted. Many others are falling into foreclosure. Still more are in limbo.

[propertysearchaddiction]

I spoke with a friend who was has been working on a loan mod for over a year. They had put $120,000 down payment into the home and wanted to stay in the home. They had to stop making payments to get the bank to even talk to them. They were very frustrated by the end.
They had a second loan. The first loan agreed to the loan mod but the second wouldn’t budge so they ended up moving to Temecula this week to rent a home and let their old home foreclose.
I continue to hear the stories of failures and I have yet to hear of a success.

I guess I can say I have now heard of one successful loan mod…Zakaria’s. I can’t say his particular story gives me confidence that he will be in his home 5 years from now.

[propertysearchaddiction]

I spoke with a friend who was has been working on a loan mod for over a year. They had put $120,000 down payment into the home and wanted to stay in the home. They had to stop making payments to get the bank to even talk to them. They were very frustrated by the end.
They had a second loan. The first loan agreed to the loan mod but the second wouldn’t budge so they ended up moving to Temecula this week to rent a home and let their old home foreclose.
I continue to hear the stories of failures and I have yet to hear of a success.

I guess I can say I have now heard of one successful loan mod…Zakaria’s. I can’t say his particular story gives me confidence that he will be in his home 5 years from now.

[propertysearchaddiction]

I spoke with a friend who was has been working on a loan mod for over a year. They had put $120,000 down payment into the home and wanted to stay in the home. They had to stop making payments to get the bank to even talk to them. They were very frustrated by the end.
They had a second loan. The first loan agreed to the loan mod but the second wouldn’t budge so they ended up moving to Temecula this week to rent a home and let their old home foreclose.
I continue to hear the stories of failures and I have yet to hear of a success.

I guess I can say I have now heard of one successful loan mod…Zakaria’s. I can’t say his particular story gives me confidence that he will be in his home 5 years from now.

[propertysearchaddiction]

I spoke with a friend who was has been working on a loan mod for over a year. They had put $120,000 down payment into the home and wanted to stay in the home. They had to stop making payments to get the bank to even talk to them. They were very frustrated by the end.
They had a second loan. The first loan agreed to the loan mod but the second wouldn’t budge so they ended up moving to Temecula this week to rent a home and let their old home foreclose.
I continue to hear the stories of failures and I have yet to hear of a success.

I guess I can say I have now heard of one successful loan mod…Zakaria’s. I can’t say his particular story gives me confidence that he will be in his home 5 years from now.

[Author]

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