Comments on: Schwarzenegger Signs New Loan Modification Law

By: Alain

Alain — Wed, 17 Feb 2010 17:38:01 +0000

You have to consider your loan mod as a battle. Be ready.
1- Lenders don’t care about you. They are not a charity organization. They have no problem putting you and your children in the street.
2- They will modify your loan only if it saves them money. As simple as that.
3- Show them that it will be cheaper for them to keep you in your home.
4- Get a loan mod software to “work out ” the numbers and qualify. Do not hesitate to massage your maths.
5- Go to the FDIC website to find a “qualification ” spreadsheet. Work the numbers !!
Good luck

By: susan gerber

susan gerber — Fri, 11 Dec 2009 03:44:38 +0000

Hi, I am looking for the Ca law for people asking for loan modifications that are not delinquent on their mortgages and have an agreement with their lender to pay less while the modification is being processed, for instance, I am with CIti, I asked for a loan mod and they gave me a lower payment from $1800 to $1500 per month while the process happens, this is since May, I had noticed my credit showed late pays on my mortgage I called Citi they told me that we are protected here in CA by a law they can not put derogatory credit on our report while doing a loan mod and making payments on time, so they sent a nice letter to all of the credit agencies regarding the slow pays being inaccurate, I just need to know what this law is I am having issues again and want to go in with amo..

By: jede ferrani

jede ferrani — Wed, 08 Jul 2009 18:47:26 +0000

I found your blog on google and read this great post on loan modification. I just added this site to my Google News Reader. I Look forward to reading more here in the future.

By: jeff pinter

jeff pinter — Sun, 26 Apr 2009 13:51:45 +0000

Very useful information . Thanks for sharing. many folks are in need of a loan modification lawyer or a real estate agent show specializes in short sales.

By: julia doan

julia doan — Mon, 23 Feb 2009 20:45:02 +0000

my mortgage wachovia i apply they did not aproved please help me my mortgage rate adjust i want afix rate

By: allen

allen — Tue, 13 Jan 2009 23:48:30 +0000

Hello…I came across your website…I have been trying to get a loan modification with IndyMac…I have an attorney who doesnt seem to be doing anything…When I got the loan it was with no docs…now they are requiring new statements each month with full dics…It was my understanding that a loan modification was simply that…I would not need to requalify for the loan I already qualified for…am I right? if so, can you point me to a law or statute to assist me? Thank you!!! Allen

By: Heindrick

Heindrick — Wed, 16 Jul 2008 06:06:55 +0000

@Susan: You should have received an email.

By: Susan Kishner

Susan Kishner — Fri, 11 Jul 2008 00:03:15 +0000

Hello. I was reading someone elses blog and saw you on their blogroll. Would you be interested in exchanging blog roll links? If so, feel free to email me.

Thanks.