We Buy Houses Blog, REO, Stop Foreclosure Home Loan Modifications Blog

I have shopped around and attorneys want a lot of money. I heard that any realtor can get a loan modification done for you. Any thoughts or opinions on this. Money is tight and I need to get this done asap.

Take the advice of HUD-approved counselor before you hire a realtor. Home Affordable refinance plans are available. You can refinance requirements and allow more people to refinance their mortgages.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVYxPZ56vjys

The perfect storm is rising….Obama set the final stages for that with ObamaCare.

No, of course not. We’ll just keep printing money, and bailing people out.

<<<<Typical liberal thought pattern

Oh, and while we’re at it.. Isn’t it time to raise the minimum wage again?

We applied almost a year ago and we call every week, they keep saying that our case has been assigned and that we will hear from someone soon but week after week we don’t… They also won’t tell us the person who has our case.. What should we do? We don’t want to get a lawyer .. Thanks!!
and what scam would that be? Your saying our bank is scamming us?

It takes months, they are really behind, under staffed to handle the volume of people rightly, or fraudulently applying for a modification. Hiring more just confuses things, as new people fumble through the process.

Call again, ask to talk to a supervisor, not the person who answers the telephone, keep going up the line of command until you get a name assigned to your case. This is a case where you have to be the squeaky wheel, they are just so over whelmed.

A lawyer will only take your money, they can’t do anything more then you can. Unless the bank, and not you, has broken the signed loan contract you have they are the injured party, not you. They are the victims in this situation.

Many homeowners are underwater (owing more than the house is worth). Most of these homeowners would stay in the house and continue paying their mortgage IF the bank would lower the value of the house. BUT the bank would sooner foreclose on the homeowner, drop the house value and sell it again at the lower value but never to the original homeowner. Can someone make sense out of this stupidity.
I don’t see why responders don’t see that the ONLY solution to the housing crisis is to stop the foreclosures as quickly as possible.

You seem to have forgotten the simple fact that the bank gave the homeowners cash money to buy the house. The house has been purchased, the mortgage is not buying the house, it is repaying a cash loan. This is not stupid, as you are the one over looking the fact that the bank already gave the homeowners money. Loans are repaid based on the amount borrowed, not the present value of the item purchased.