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loan workout: Wells Fargo Loan Modification Q & A to Apply & Qualify - 10/19/09 05:30 PM
Frustrated trying to figure out if you qualify for a Wells Fargo loan modification?  You need a lower your mortgage payment and you also need to learn about how to increase your chances for success. Applying for a Wells Fargo loan modification program will give you the chance to lower you monthly payment so you can afford to stay in your home and avoid foreclosure. Unfortunately, not all borrowers will qualify for this help-why do some homeowners get approved while others are denied? Here are 7 Tips that will help you get your loan modification application approved:
Tip #1: Learn the … (0 comments)

loan workout: Wells Fargo Loan Modification Tips on How to Apply - 08/18/09 08:49 PM
 
Distressed borrowers who need Wells Fargo loan modification help are advised to learn about the lenders guidelines and requirements before submitting their application. Wells Fargo has implemented the Obama stimulus plan, Home Affordable Modification, which promises to give delinquent borrowers options to help avoid foreclosure and stay in their homes. Here is a basic outline of the programs that may benefit borrowers:
1. Making Home Affordable Modification Plan:  the federally subsidized program that has standard guidelines for qualifying outlined by the Treasury Department.  Using this plan, qualified borrowers may see their interest rate reduced to as low as 2%, their … (2 comments)

loan workout: Wachovia Loan Modification with Obama's Stimulus Rescue Plan - 08/18/09 08:27 PM
 
The Wachovia loan modification program is designed to offer borrowers stuck in unaffordable home loans relief with a lower mortgage payment to help them avoid foreclosure. Wachovia has a large portfolio of the risky Pay Option Arm loans that feature adjustable interest rates and a negative amortization option. The toxic brew of declining home values and increasing loan balances due to the deferred interest of these negative amortization loans has placed many borrowers in a dire situation. Most homeowners are unable to refinance as the loan balance now exceeds the homes value, and finding a buyer is a challenge in … (0 comments)

loan workout: How to Stop Foreclosure with a Loan Modification or Loan Workout - 09/16/08 07:49 PM
If you are behind on your house payments and facing foreclosure, you should learn about loan modification and loan workout options.  Either of these can stop the foreclosure process and help get you back on track with your current lender.  Retention options are workout plans that can help you keep your property. A loan modification is one type of loan workout option.  Other loan workouts include:
Special Forbearance/Forbearance Agreement: a written agreement to reduce or suspend your monthly payments for a pre-determined length of time to give you time to recover from your hardship
Repayment Plan:  the lender agrees to accept a portion … (2 comments)

loan workout: Loan Modification Companies-Benefit or Scam? - 08/01/08 01:20 AM
Google Loan Modification and see how many sites pop up-amazing!  It seems Loan Modification Companies are the new cottage industry-more & more are popping up everyday.  And just who are these companies owned & staffed by?  Some of these offer the services of Attorneys who will negotiate directly with the lender on the borrowers behalf.  That sounds like it could be an effective method-but the fees are expensive-with no guarantee of a positive outcome for the borrower.
Most of the Loan Modification companies are owned & staffed by former Mortgage Brokers & loan officers who now find themselves out of a … (10 comments)

 
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Susan V. Gregory

Dana Point, CA

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Newman Realty

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