Just a reminder, my team and I are still helping Twin Cities residents with free loan modifications. Here's what we do, we send you an authorization form, a finanical form and a list of financial back up required. After we recieve that information from you, we submit a completed package to your mortgage lender. They we follow up with them over their review process (can be more than 60 days) until they make a decision on your file.
We will do this for free! And a loan modification should always be your first attempt at saving your house!
Email me now to get started!
Wednesday, June 24, 2009
Monday, June 22, 2009
Success with Countrywide-- Short Sale APPROVED!
I normally don't list our successes-- we've had the fortune of getting approvals on most of our short sales, but this one bears mentioning!
Our clients approached Countrywide requesting a loan modification about 18 months ago. They were denied. We put the house up for a short sale and shortly after had an offer to present Countrywide. It was a decent offer. They sat on that offer for five months and then closed the file for lack of response from the mortgage insurer.
A few months after that file was closed we had a new ($25,000 less) purchase agreement and after four(!!) additional months we finally have full approval.
Because we have worked steadily and aggressively on this file the seller (and Countrywide) avoided a sheriff sale. Now if only we could motivate that banks to act upon these promptly--- Countrywide could have saved a TON of money (not just the $25k that this purchase agreement netted them-- but also lost interest revenue, time spent with negotiators, tax expenses and more).
Don't get me wrong---- I am thrilled to get the approval!
Our clients approached Countrywide requesting a loan modification about 18 months ago. They were denied. We put the house up for a short sale and shortly after had an offer to present Countrywide. It was a decent offer. They sat on that offer for five months and then closed the file for lack of response from the mortgage insurer.
A few months after that file was closed we had a new ($25,000 less) purchase agreement and after four(!!) additional months we finally have full approval.
Because we have worked steadily and aggressively on this file the seller (and Countrywide) avoided a sheriff sale. Now if only we could motivate that banks to act upon these promptly--- Countrywide could have saved a TON of money (not just the $25k that this purchase agreement netted them-- but also lost interest revenue, time spent with negotiators, tax expenses and more).
Don't get me wrong---- I am thrilled to get the approval!
Tuesday, June 16, 2009
Loan modification after sheriff sale... NO!
I recently got an email from someone who had recieved a loan modification from Chase Mortgage. She was so excited! It was a payment that would work for her... she quickly signed the papers and sent off $1500 to get everything started. Only one problem... her sheriff sale had taken place two months prior.
She called Chase to check on the new payment and was told, we won't do a modification after sheriff sale.
I am not sure that this was an intentional blunder on Chase's part; however, they had sent her the modification documents on two different occasions.
My advice to her was to contact an attorney and at the very least get her $1500 back. My advice to you... be very wary of offers to modify after sheriff sale (in Minnesota). Every bank I work with (I think I have covered 99% of them now) is unwilling to modify after sheriff sale.
Email me if you have questions or would like FREE modification help!
She called Chase to check on the new payment and was told, we won't do a modification after sheriff sale.
I am not sure that this was an intentional blunder on Chase's part; however, they had sent her the modification documents on two different occasions.
My advice to her was to contact an attorney and at the very least get her $1500 back. My advice to you... be very wary of offers to modify after sheriff sale (in Minnesota). Every bank I work with (I think I have covered 99% of them now) is unwilling to modify after sheriff sale.
Email me if you have questions or would like FREE modification help!
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