Upside Down Mortgage

Archive for the ‘Home Loan Modification’ Category

Loan Modification With Wachovia

Question: Mortgage Loan Modification?

The US Gov bailout plan only applies to Fannie May and Freddie Mac funded mortgages? My mortgage is through Wachovia. I've called them and they claim it's their loan. Nobody above them. So there's no help for me?

What to do?

Answer: That is true. Just to be sure you can check Fannie Mae's and Freddie Mac's websites and check if your mortgage is financed through them.

World Savings or Wachovia Option Arm and Predatory loans

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Loan Modification Budget

Question: What is the most effective way to market my product?

I am working for a Lead Generating marketing firm, I was hired to sell leads for loan modifications and debt settlement, an industry I have been in for years, only not selling leads, you guys have any suggestions, the leads are real time , quality and cost effective ...

I have no marketing budget, I only have phone, internet and a few contacts in the biz.....

Answer: Some of the ways you can advertise your business are:
1. Post an article about your business on related blogs and get free visitors and back links
2. Submitting to directories
3. Free classifieds
4. Forums

Send an email with more information about your business to [email protected] for free help on finding new customers and increasing sales.

Loan Modification Budget Worksheet

Chase Loan Modification Trial Period

Question: Need help with Chase bank loan modification problems?

Has anybody else run into this issue? After getting the runaround from Chase two weeks ago, we received our loan modification documents in the mail last Friday. Only problem is that they are asking for a trial period payment on April 20th and another one on May 1! We just paid our mortgage on April 1 and are current on our payments at this time. When I called Chase to try to figure out what happened, they told me there was nothing they could do and I should try to borrow $1100 from family and friends to make the double payment (quite possibly the dumbest advice ever). What I don't understand is that the loan modification program is suppose to give you a 90 day trial period with 3 monthly payments at this $1100 rate. Does anybody have any suggestions on how to fix this besides contacting my congressman? (I'll be doing that first thing in the morning)

Answer: Chase received the HASP guidelines from the President on April 6th. They will start instituting the new rules. It sounds like you were offered the "old" Chase loan modification.
The new program lowers your payments and interest rate but does not change the outstanding balance.
No one makes a triple payment under the new program. That defeats the whole point. But you do have to have been current for the last 12 months..