Upside Down Mortgage

Posts Tagged ‘loan’

Loan Modification Act

Question: Has anyone successfully completed a Mortgage Modification under the new Making Home Affordable Act?

Just curious if anyone has actually been able to speak to a real person at their Mortgage lender and been successful in completing a loan modification under this new plan. Our loan is serviced by Citi and I never get to speak to an actual person.

Answer: Unfortunately not. My loan is serviced through First Horizon and every couple of weeks that I call referring to it, they say that they don't have any details and their still working on it! This has been going on since March.

How to get the most out of your loan modification by doing it yourself - or with an expert lawyer

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Loan Modifications

Question: Does anyone know a really good and legitimate real estate lawyer who specializes in loan modifications?

We sent all our information to our mortgage company 6 months ago and we have been getting the run around since then. HELP!

Answer: You need to be working thru the lender. Pretty much every modification firm is a scam.

Try a manager

Loan Modification Credit Report

Question: Will a loan modification, on my 1st mortgage, effect credit bureau?

I am applying for a loan modification. If I decide later to sell my home, will this loan modification effect my credit report, so I am unable to purchase a new home?

Answer: As long as your credit is not terrible already from missing mortgage payments, A loan modification will usually not affect your credit score as long as you stay current.

Important things to know before you get Trade Lines on Credit Report! 25-75 Points!