Monday, August 13, 2018
Tuesday, June 30, 2015
Monday, August 31, 2009
Tuesday, May 5, 2009
New words for Property owners... "I want a Loan Modification"
Since the beginning of the year "Loan Modification" was the new buzz word around the coffee shops, break rooms, and talk of the town. Realtors one time or more have had clients come to them asking about "Loan Modifications"... I have and I did not know the answer or answers, so I had a homework assignment... Oh yeah, and don't forget how lenders were telling the borrowers don't qualify for a Loan Modification because borrowers did not miss a payment or two or three or more. But the property owners (Borrowers) were still upside down on there property!(Property Values went down in most areas)
Breaking News from Fox Business Cable News brought light on this "Hot Topic". Internet surfing I found some companies charging a fee. I heard from one client who heard from one of there friends that someone paid $6,000 for this service to get a Loan Modification... You ask did they get a Loan Modification? I don't know...
A lot of information...and CAR (California Association of Realtors) on March 24, 2009 revised a chart. The following information listed below was copy from the revised chart:
*Making Home Affordable Modification(The Obama Administration’s Loan Modification Program. Web-site:http://www.financialstability.gov
Adopted by Fannie Mae, Freddie Mac, and Wells Fargo Web-site:http://www.wellsfargo.com/jump/homeassist or
Call (800) 678-7986. This Chart has more information on other banks should u want a copy email me and put on the subject line: "Revised Chart March 24,2009" and I will forward this chart to you. "Got An Email"?
In my search I have found a company that does LOAN Modification for free. That's Right Free...East LA Community Corporation (ELACC) is a 501(c)(3) non-profit community development corporation based in East Los Angeles. East LA Community Corporation is located:530 South Boyle Avenue, Los Angeles, CA 90033
Phone (323)269-4214. ELACC do have HUD Certified Housing Counselor. Web-site: http://www.ELACC.org. Check them out before U think about paying for a LOAN MODIFICATION.
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