Streamline or modify – Loan Modification Forum – Loan Safe
Here is a new Post at Streamline or modify – Loan Modification Forum – Loan Safe.
Hi, need some opinions and help, am new to this forum. I have owned my home for 23 years…never have missed or been late on a mortgage payment. 3.
Here is a response on similar topic:-
Can I still modify my loan if I am NOT three months behind as most banks require?
ok, first thing you do is call B of A and ask for the “loan modification” or “loss mitigation” department – not BILLING or COLLECTION, tell them the truth, that you took out an ARM (you could lie and say that the mortgage broker promised you it was a fixed rate loan and you didn’t realize it would adjust until you got to the closing table) and now that it’s adjusting you will not be able to carry these payments. Give them a hardship story that you can repeat verbatim, possible loss of job, possible health issue of a wage earner in the house, anything to let them know you are serious about paying the mortgage but not with it adjusting. The banks do not want your house, their REO’s are bulging at the seams, especially if you have little or no equity in the house, they may even lower the rate and then fix it for 30 years, the banks are doing crazy stuff these days to help keep people in their homes. I work with people in foreclosure every day, dealing with the banks on their behalf, your persistence will pay off, you can email me if you have other questions.
FYI, here is a list of recently published Posts on same topic:-
Excellent article about Tim Geithner etc
Economic Crisis: The more they do, the worse it gets By Stephen Lendman
The more they do, the worse it gets
Bitter medicine we sometimes take
I though that might be of interest 
Here is a news article on related topic:-
Kanjorski pushes measure to help modify loan terms
By David Pierce Mortgage servicers would be allowed to modify loan terms without fear that disgruntled investors will sue them, under a bill introduced by …
