Upside Down Mortgage

Archive for February, 2008

Loan Modification October 2009

Question: Signed & notarized a loan modification Jan 26, 2009. They kept telling me it has been approved, but it will be?

months before it will show on your statements. So i made my first Modification loan payment, as what it said on the contract on March 1st 2009. Been making that payment every month. I just found out today October 9, 2009 it was canceled May, 2009 & it's October now. They said my financial part didn't match up. There wasn't even a notification of this. What should i do about this?

Answer: What they are saying is that you falsified some data. They had to notify you though. I would think they have proof of notification, but you can find out by asking them.

If they are wrong, you did not falsify any information then you should sue them over this/

consignments, loan modifications, shortsales,settlements

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!

Subprime Presentation

Question: What has been happening in the US subprime mortgage market over the last 6 months?

What has been happening in the US subprime mortgage market over the last 6 months and what effect this in turn has had on the UK economy?

I need to know this information for a presentation I need to make tomorrow, any information would be great!

Answer: God, dont you watch the news? I find it unbelievable that you dont know anything about it.
Here look at this page for some help.

http://www.socialistworker.co.uk/art.php?id=12876

Economics Lesson Of SubPrime Lending Disaster Pinon Hills CA

Loan Modification With Wells Fargo

Question: has any had a mortgage modification?

I have a mortgage with wells fargo and have fallen 3 months behind they told me i PRE- qualify for a loan modification, with down payment of 900$ I am a little worried about this because i only pre-qualified and it takes up to 45 days to fully qualify if i don';t then i get 900 back but then i will be another month behind and probably go to foreclosure at that point. My question is has any done this before and what was the outcome and process.

Answer: Go visit these forums where people have gone through the modification and you can get helpful hints and tips on what they did to be successful:

http://www.loansafe.org/forum