loan modification: How Do You Know When to Stop Praying for a Loan Modification?
- 07/20/10 04:12 AM
This is one of the hardest questions a homeowner can face...When do you give up waiting for a loan modification when the bank has been dragging their feet and you are stressed about the future? I have met dozens of homeowners who have been waiting for an answer for months on end. Some get a letter of rejection, which is the green light for a short sale. Others end up getting the run around from the banks...'fax your bank statement again, we didn't get it;' 'send an updated paycheck stub'... If you have been waiting longer than 2 months, there are … (2 comments)
loan modification: Amazing...Some Reps in Congress Actually Understand the Housing Crisis
- 07/07/10 07:51 AM
I watched a fantastic webcast of a House committee meeting where several bank and servicing company CEOs testified about their performance on HAMP loan modifications and other foreclosure prevention programs, including short sales. The entire webcast is about 2 hours but it's worth watching. I have to admit these Congressional House members knew what they are talking about and actually understand how horrible the process of working with these banks and servicing companies is for both homeowners and Realtors. They also tried to find answers on how to improve the pathetic HAMP program and come up with a streamlined process. I was impressed … (2 comments)
This is one of the hardest questions a homeowner can face...When do you give up waiting for a loan modification when the bank has been dragging their feet and you are stressed about the future?
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