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Archive for January 31st, 2010
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How do you get a negotiator from Bank of America to call you regarding a loan modification?
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Bank of America says I qualify for a loan modification but I have to wait for the negotiator to call me. That was 90 days ago. I have tried to get through numerous times but they say I just have to wait for them to call me. Is there anything you can say to get them to respond quicker.
Since BofA has now taken over Countrywide, you will be waiting a long time. Don’t worry about it. I would just check in every couple of weeks to see if anything has changed.
I’ve been working on loan mods with BofA and they are REALLY bad! It took them over a month to get a FAX with the info even though I kept calling every couple of days to verify they got it.
Countrywide was no better. So now that they are merged, they are swamped and moving like molasses.
I have rejected 2 loan mods they sent me because one was only $300 less monthly than what I can afford and the other was $300 MORE than what I can afford. They are ridiculous. So I’m applying for another loan mod. It’s been over a year since they got a payment. You would think that they would hurry up????
well recently ive been meeting up with a company that claims a loan modification is a bad idea! For one thing, its only a temporary revilement, that it’s no a good move and are "advising" me to get an attorney so he can represent me but im not sure who to trust now a days. I need help in finding the right people to help me so i wont lose my home. Another thing they pointed out was that a loan modification only gives you more debt than how you started because the banks only do so much to "help you" and before you know it, you end up worst than how you started. What should i do?
Ok! at the moment i have not gotten the famous FORECLOSER letter. Right now i am at the point where i have already missed two payments and i owe the bank about 4,000. My payments come in two different bills one is for 848.00 Interest rate is 12.2500% and the second of 1710.00 interest rat is 7.7500% (not including tax property) i have been up to date on my smaller bill but am having a hard time completing the bigger bill. Yearly i pay almost 6,000 on tax alone and i am also not up to date on that. Basically the help i am seeking is someone who wont screw me over for money and fight for my home. I know i am paying too much for my home because the home value has gone from 540,000 (from when i bought it) to 316,000. Who can help me? should i look for an attorney for this kind of problem?
Buyer beware. If it sounds to good to be true it likely is. Look at your income and project it over the life of the loan and if you are having problems meeting the minimum take a loss and sell. Selling at a loss is better than a foreclosure and a bankruptcy. Start saving again.
Does anyone know how I can go about finding foreclosed homes and learn how to flip them?
There is a free consumer guide I recently found online below. It has the basics to house flipping and where to find a free list of foreclosure property and Government seized homes.
Its the only free one I seen on-line.
Simply put, pay the mortgage. Short of that you need to contact the lender and try to work something out. You can try a short-sale or a deed-in-lieu of foreclosure. Both would stop the process but neither lets you keep the house.
Declaring bankruptcy will also postpone things a couple months but would you want a bankruptcy and foreclosure on your credit report?
Good Luck!
An acquaintence wants me to get in on a deal to buy condominiums in Mexico, by the sea. Somewhere in the back of my mind, is the thought that non citizens can’t own real estate there? Does someone know for certain?
Yes you can, a Realtor in my office owns a home near Puerta Vallarta. But non-citizens are banned from owning certain types of properties. It is best to work with a reputable agent in Mexico to help you with the transaction.