Comments on: Make Your Lender Reconsider Your Mod Eligibility http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility Sun, 22 Aug 2010 22:39:10 +0000 http://wordpress.org/?v= hourly 1 By: Todd http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-870 Todd Thu, 10 Sep 2009 02:35:12 +0000 http://www.truthinforeclosure.com/?p=1321#comment-870 Thanks for your question. Unfortunately, I don't have the legal expertise to say. I can refer you to the <a href="http://members.naca.net/findanattorney/" rel="nofollow">National Association of Consumer Advocates</a> website, though, to find a local lawyer that could help you out. Thanks for your question. Unfortunately, I don’t have the legal expertise to say. I can refer you to the National Association of Consumer Advocates website, though, to find a local lawyer that could help you out.

]]> By: LBoyce http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-862 LBoyce Tue, 08 Sep 2009 15:00:33 +0000 http://www.truthinforeclosure.com/?p=1321#comment-862 Can your loan be modified if there is a lien on the home. My husband lost his job, therfore is behind on Child Support, so the DA has placed a lien on the past due payments on our home. Since we are not selling the home, does this stop the modification? Can your loan be modified if there is a lien on the home. My husband lost his job, therfore is behind on Child Support, so the DA has placed a lien on the past due payments on our home. Since we are not selling the home, does this stop the modification?

]]> By: Todd http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-546 Todd Thu, 21 May 2009 20:49:23 +0000 http://www.truthinforeclosure.com/?p=1321#comment-546 No, I'm afraid it's only available once you've logged into Freddie Mac's backend portal. Which is only available to lenders/servicers and other industry professionals. No, I’m afraid it’s only available once you’ve logged into Freddie Mac’s backend portal. Which is only available to lenders/servicers and other industry professionals.

]]> By: KPARK http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-545 KPARK Thu, 21 May 2009 19:55:59 +0000 http://www.truthinforeclosure.com/?p=1321#comment-545 Does anyone have a copy of the "Borrower Qualification Worksheet"??? I've developed my own version with the waterfall effect, but would like to see the real magilla. Does anyone have a copy of the “Borrower Qualification Worksheet”???

I’ve developed my own version with the waterfall effect, but would like to see the real magilla.

]]> By: Todd http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-528 Todd Thu, 14 May 2009 02:55:29 +0000 http://www.truthinforeclosure.com/?p=1321#comment-528 Thanks for asking. Yes, you can apply for a short sale and a loan mod. Matter of fact, I'd recommend doing both at the same time. Most lenders would prefer to modify rather than short sale because they don't lose as much money. Not hearing from the lender is normal...they rarely return calls in my experience. Call them instead...every day if you have to. If they say they will call you by a certain date and don't, call them the next day. Unfortunately, this is very much a case of the squeaky wheel getting the grease. Finally, I'm not sure how your soon to be ex-spouse's income will count into your modification/short sale package. It depends on how reliable it is and if you can prove how much of it you will get every month. They're concerned with household income, but since he's no longer in the house (I assume), you'll probably only be able to count any alimony and/or child support he may be court ordered to pay you. Glad you found the sample hardship letter helpful. Thanks for asking. Yes, you can apply for a short sale and a loan mod. Matter of fact, I’d recommend doing both at the same time. Most lenders would prefer to modify rather than short sale because they don’t lose as much money.

Not hearing from the lender is normal…they rarely return calls in my experience. Call them instead…every day if you have to. If they say they will call you by a certain date and don’t, call them the next day. Unfortunately, this is very much a case of the squeaky wheel getting the grease.

Finally, I’m not sure how your soon to be ex-spouse’s income will count into your modification/short sale package. It depends on how reliable it is and if you can prove how much of it you will get every month. They’re concerned with household income, but since he’s no longer in the house (I assume), you’ll probably only be able to count any alimony and/or child support he may be court ordered to pay you.

Glad you found the sample hardship letter helpful.

]]> By: Misty http://www.truthinforeclosure.com/make-your-lender-reconsider-your-mod-eligibility#comment-523 Misty Wed, 13 May 2009 12:55:12 +0000 http://www.truthinforeclosure.com/?p=1321#comment-523 My situation is a bit sticky. My house is up for foreclosure, going through a divorce and I have applied for a short sale but.... my future ex makes enough, at least on paper where he can afford the house. I have not heard from the lender in two weeks, is this normal? If I am turned down for the short sale, could I still apply for loan modification? PS: Your letter of hardship really helped me out. Thanks mc My situation is a bit sticky. My house is up for foreclosure, going through a divorce and I have applied for a short sale but…. my future ex makes enough, at least on paper where he can afford the house. I have not heard from the lender in two weeks, is this normal? If I am turned down for the short sale, could I still apply for loan modification?

PS: Your letter of hardship really helped me out.

Thanks
mc

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