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Loan Modification Marketing Plan

October 22, 2007

in Community Blog

loan modification marketing plan
Does anyone know a person(s) who has had success with the home loan modification process?

I have tried for over a year to get my loan modify. My mortgage company says my loan is to big to use the Obamas plan. Okay, why can’t the mortgage amount be lowered to the current market value, spread out over 40 years, with a lower interest rate? Sounds to good to be true, right, but this is what they are saying can be done and I just do not know of any success stories! I have been told about NACA. Does anyone know how to get to talk to a supervisor of that company? I know this is alot, but, if anyone has any information on how to save a home PLEASE let me know!

I have done several.

TAlking to a supervisor will not help. They have to do it by the books, treat every client the same, otherwise it is discrimination.

The Obama plan does not work for most people. I have not heard about a cap, but it does not surprise me. Obama wants to punish the middle class and award the lazy people.

The odds of you lowering your principle are close to hell freezing over. It is not like interest, it is cold hard cash you had in your pocket. You are asking to keep it without earning it, free money. It isn’t going to happen, so stop asking.

Concentrate on lowing the interest and increasing the term, they can do this without a loss of capital. You will have an easier time.

Also, each time you try you have to start all over. The every first thing you have to do when you talk to a work out rep is tell them you do not qualify for the Obama plan. Some of the banks computers close your request as soon as the conclusion of rejection is reached.

Another tip, learned from much frustration, is to keep your package together at all times. The banks tend to loose things in shuffling, or over look them, or whatever. Anyway, it is REALLY common for them to ask you to resend a document. It helps to send that document as page 1, but include all of the other ones too. This trick reallly helped me shorten the amount of time it takes to get this done.

Additionally, once you talk to someone who seems to know their a@@ from a hole in the ground get their name, and direct number. Kiss that a@@, becaue if they like you they will tend to help you. They are mostly young people, very susetptible to flttery. “Oh it is so great to find someone who really knows how to get this done. I am so tired of talking to confused people. I am so glad to finally get ahold of you.” blah blah blah. Sometimes you have to swallow your pride.

Hopefully no more family members will come calling asking me to help. Because they really do not want help, they want me to do it for them. It is really frustrating, but you will eventually get it done.

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