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Is Your Short Sale or Loan Modification Being Turned Down?
Katerina Gasset has written a thorough explanation of why some loan modifications and short sales are turned down. The reasons are far more complex than loan servicers are willing to explain. Read on to learn what's going on behind the scenes when you or your representative is not getting anywhere with the lender - for either a short sale or loan modification.
Has your short sale or loan modification been turned down and you have no idea why? Let's examine some of the reasons. These reasons may not make you feel any better or maybe they are just excuses by your lender, however there are a few things you may not even know about your loan.
Let's say that you make your mortgage payment to Wells Fargo. You can no longer handle your payments so you ask Wells Fargo to modify your loan- to do a loan modification for you. You are behind in your payments. You are in fact, in foreclosure but you are still living in your home and the judge in your case has not ordered the sale of your home at auction yet. You are scared. You see your neighbors losing their homes all around you. You ... more

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