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  • June 4, 2009 at 5:15 PM #15824
    macromaniac
    Participant

    As some of you know, I sublease space to a loan modification processing firm and a few times a week I stop by to get the latest and greatest regarding what banks are doing for delinquent borrowers. Check the latest two deals she got for borrowers:

    First is a 3.5m loan with WAMU at 8.625% – payment was $25,500 P & I

    Modified loan is 40 year amortized at 1.75% – payment PITI is $11,000.00 – stopped trustee sale of July 12,2009 and capitalized $257k in delinquency

    First is a 1.0m loan with WAMU at 7.5% – payment was $6173 PITI
    Modified loan is 40 years at 1.5% with new PITI payment of $2972.00 – stopped trustee sale of June 10, 2009

    It makes all the sense in the world to go delinquent…crazy times!

    June 4, 2009 at 5:20 PM #410643
    (former)FormerSanDiegan
    Participant

    WOW !
    Crazy times.

    Is there any concession for a cut for potential future appreciation to be claimed by the bank on these mortgage mods ?

    June 4, 2009 at 5:20 PM #410883
    (former)FormerSanDiegan
    Participant

    WOW !
    Crazy times.

    Is there any concession for a cut for potential future appreciation to be claimed by the bank on these mortgage mods ?

    June 4, 2009 at 5:20 PM #411129
    (former)FormerSanDiegan
    Participant

    WOW !
    Crazy times.

    Is there any concession for a cut for potential future appreciation to be claimed by the bank on these mortgage mods ?

    June 4, 2009 at 5:20 PM #411346
    (former)FormerSanDiegan
    Participant

    WOW !
    Crazy times.

    Is there any concession for a cut for potential future appreciation to be claimed by the bank on these mortgage mods ?

    June 4, 2009 at 5:20 PM #411193
    (former)FormerSanDiegan
    Participant

    WOW !
    Crazy times.

    Is there any concession for a cut for potential future appreciation to be claimed by the bank on these mortgage mods ?

    June 5, 2009 at 9:56 AM #410981
    macromaniac
    Participant

    Nope. Not in the agreement at all…..and they are now considering principal reductions to get them to 31% DTI ratio….crazy….

    June 5, 2009 at 9:56 AM #411683
    macromaniac
    Participant

    Nope. Not in the agreement at all…..and they are now considering principal reductions to get them to 31% DTI ratio….crazy….

    June 5, 2009 at 9:56 AM #411530
    macromaniac
    Participant

    Nope. Not in the agreement at all…..and they are now considering principal reductions to get them to 31% DTI ratio….crazy….

    June 5, 2009 at 9:56 AM #411467
    macromaniac
    Participant

    Nope. Not in the agreement at all…..and they are now considering principal reductions to get them to 31% DTI ratio….crazy….

    June 5, 2009 at 9:56 AM #411220
    macromaniac
    Participant

    Nope. Not in the agreement at all…..and they are now considering principal reductions to get them to 31% DTI ratio….crazy….

    June 5, 2009 at 10:00 AM #411472
    PadreBrian
    Participant

    I suspect they will go delinquent with even that. Sounds like bank robbers that are just playing the system.

    June 5, 2009 at 10:00 AM #411688
    PadreBrian
    Participant

    I suspect they will go delinquent with even that. Sounds like bank robbers that are just playing the system.

    June 5, 2009 at 10:00 AM #411535
    PadreBrian
    Participant

    I suspect they will go delinquent with even that. Sounds like bank robbers that are just playing the system.

    June 5, 2009 at 10:00 AM #411226
    PadreBrian
    Participant

    I suspect they will go delinquent with even that. Sounds like bank robbers that are just playing the system.

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