Modification!!!! Is simple to say that this is the way out for most owner in trouble.
When getting a modification on their own, buyers fall on the trap by providing more information to the bank of what is needed.
What happen if they hold information from the bank and provide less expenses in the assumption that this could help them in getting an approval.
This can get very tricky. Why are the news, politicians and other individuals advising homeowners to stay away from paying for these services when the bank can get the job done without any fees involve.
We understand that home owner could be an easy prey for scammers; this is the reason why they should only seek help from those organizations that are recognize in the community.
Haaa!!!, but what happen. They go to the one that is the lowest pay services.
Let's confront the situation; if they pay the lowest fee, aren't they suppose to get sheep services (This may not always be the case) and sheep services never come together with quality, honesty and responsibility.
Banks are not working for the consumer or following the rules of the game; what rules? There are no rules.
The government set up a program with a blank check saying, it is up to the banks to offer a Modifications or not. They also say that homeowners should not be require to be delinquent to be offer a program.
.... I thing I will be call a ...... blower.
Why is Bank Of America (Countrywide) refusing to offer Modification plans to homeowners that are not delinquent but could qualify base on their finances and programs criteria. Are there other Banks following Bank Of America footsteps? You bet there are more banks laughing at the program.
What program is that? Obama. Obama's who?
Property values are the one reason homeowners after getting a Modification will get back on default. You don't have to be smart to be able to read between the lines and understand the problem and the solution.
HOOO!!! wait, how about the homeowner that transfer all their equity and now they have lost their retirement. I am not going to touch this subject....
Homeowner should know that we are just waiting for the next wave of Modify loans going back on default. Why not do a short sale and wait on the side line until they are ready to buy a home again, instead of dropping their mortgage payment (Modification) in to the black hole.
We know. Banks will sell this loans after they have perform for a period of time and the homeowner will be standing holding the stick (Mortgage Modify).
Oscar Matamoros/Marketing Lupe Medina/Realtor