Saxon Mortgage Loan Modification News

April 8, 2009

I just received a call from a past client that has a loan with Saxon mortgage and they are using the Aurora Loan Services tactic, by reducing the payment a bit and requiring 3 payments before they will consider a modification.  In fact Aurora requires up to 4 payments before they will consider a modification.  [...]

Read the full article →

Countrywide Loan Modification with Bank of New York

April 6, 2009

I am working on a loan modification through countrywide and although it was conditionally approved by countrywide, I just received word that Bank of New York who is the investor is having a problem with it. I realize countrywide has some power over this but ultimately its B of NY final decision. What [...]

Read the full article →

Natasha Richardson Donates Organs

March 25, 2009

I just heard that Natasha Richardson (due her previous expressed wishes) and her family donated her organs to save the lives of waiting transplant patients.  What an incredible act if kindness from the family who took her off life support on March 18th after discovering she was brain dead. Doctors spent 6 hours harvesting her [...]

Read the full article →

Countrywide Loan Modification Changes

March 25, 2009

Just an FYI.
Countrywide, due to the massive volume of loan modifications that are being submitted,  is now requiring all document submission to be scanned and emailed as apposed to faxed.  There’s good and bad here.  The good? more efficiency.  The bad?  One of the reasons I am successful at loan modifications with Countrywide is because [...]

Read the full article →

What’s up with Wells Fargo?

March 25, 2009

Although we’re not talking about a loan modification, I feel its necessary to discuss events as they occur with respect to banks and what they are or aren’t doing to help us through this mortgage crisis.  Our company helps homeowners with short sales as well as loan mods and I believe its important to update [...]

Read the full article →

Loan Modification Success Story

March 14, 2009

I was just able to help a client who had a rate of 9.875% with HFS Bank.  The new terms are as follows.  Rate is 3% for 2 years, 4% for the next 2 years then 5% for the remaining 25 years.  This is saving the client $1200.00 per month.  She has a second with [...]

Read the full article →

House Passes Mortgage Bankruptcy Bill

March 6, 2009

The legislation, empowers federal judges to modify the mortgages for borrowers who file for bankruptcy.
Dubbed “Helping Families Save Their Home Act” and AKA the Cram down Bill the bill allows bankruptcy judges to assist struggling homeowners save their home by extending the term [...]

Read the full article →

Obamas Mortgage Bailout Announced

March 4, 2009

This just in today:
I’m sure if your one of the million of Americans who are late on your mortgage, you are probably wondering what all this means to you.   I think we are all impacted by this program whether or not we are behind or struggling with home payments because bottom line it all [...]

Read the full article →

Loan Modification Interview with Loanzen

March 3, 2009

I had the pleasure of being interviewed with the founders of Loanzen.  They are a group of guys who created a site that provides would-be borrowers information from past borrowers who post their recent lending experiences.  Get feedback from brokers, rates, terms all on the fly.  Pretty cool.  Here’s a snippet of the interview, but [...]

Read the full article →

Countrywide Loan Modification Success Story

March 3, 2009

We had a nice family who got into a little trouble with job, bills etc. and Countrywide just approved a Loan Modification.  Terms were as follows.  First was 7.5% about to adjust and we were able to get 4.25% for 5 years lowering their monthly payment about $1500.00.  We are working on the second as [...]

Read the full article →