Upside Down Mortgage

Mortgage Modification Types

Question: Are you willing to pay higher interest and higher taxes to save your neighbors home?

Mortgage Modifications in Bankruptcy Would Undermine Homeownership, Would not Prevent Foreclosures

http://www.heritage.org/Research/LegalIssues/bg2242.cfm

ACTION POLL: (Cast Your Vote by Sending a Message)
Remember - it's not what the opinion polls say, but what Congress hears. (19,950 messages thus far)

28% Say Allow Bankruptcy Judges to Change Mortgages
72% Say Don't Allow Bankruptcy Judges to Change Mortgages

http://www.congress.org/congressorg/issues/alert/?alertid=12756331&type=ML

Answer: Nope...

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Loan Modification Success

Question: Has anyone had any success with a loan modification?

Initially we hired a company, total rip off, got 100 percent refund after threatening legal action. Our mortgage company doesn't seem to know what they're doing, we get assurances over the phone but also unsigned computer general threatening letters in the mail! Does this really work? Or are we destined to lose our home?

Answer: Karen, depending on your circumstances you probably need an attorney. Yes, most of the solicitations out there are a complete rip-off. Attorneys cost money but this is your house and your credit, not to mention a possible deficiency judgment.

The banks are getting a little better (and a little less indignant over the phone) because the underlying assets (the homes) are getting harder and harder for them to dispose of. That said, they have the upper hand. You're going thru one of these. They've gone thru, and are going thru, thousands.

Spend a few bucks on a real estate attorney that knows what they're doing. The bank's attitude and level of service will literally change overnight.

Hope this helps.

Loan Modification Real Estate

Question: pacific loan soloutions of riverside scammed me for 6,000 how can I get money back besides small claim court?

Pacific Loan Soloutions of Riverside Ca, scammed me for almost 7,000. I have filed a small claims case and contacted the Ca Dept pf Real Estate and the Riverside District Attorneys Office of special prosecutions, is there anything else I can do to shut them down ? They never produced a loan modification and are doing this to many many other people I have seen in their office.

Answer: If you paid $7K then you paid way too much. You can also contact the BBB. I'm not an attorney, but it seems to me that if they tried to get the modification and just weren't successful you probably don't have a leg to stand on unless they guaranteed a modification.

Real Estate Loan Modifications