Comments on: Avoid Foreclosure With Moe. Ask Me Any Questions and I will Help For Free!!! http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/ Loan Modification & Home Loan News Mon, 22 Mar 2010 00:08:06 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Bob http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-19401 Bob Tue, 26 Jan 2010 22:23:35 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-19401 Dear Moe, 2000 got the house. 2004 refi with Ameriquest. Then HSBC sent letter to us they purchased the loan and is servicing since then. HSBC is a royal pain…and a master of misinformation… Now here's our saga...now that we are requesting loan modification, they are claiming that my lender is private and will not further modify may loan.. Told them that what they gave me is not a modification, but only an instruction from them. We never signed any written agreement of the modification since we do not agree with this direction so this is not suppose to be binding. Our original rate is 6.0% which is good at that time, and pays $2,512. monthly. I requested just to extend the loan so monthly will be affordable...They gave us temporary 6 months 5.25% that will knock down about $80.00 off our original monthly payment…Wow!!! not even enough to buy my medicine and sanitary napkins!!! They are insisting they can not do anything… now my house is in default recorded in 11-25-09 and tentatively by 2-25-10 is the sale date. HELP!!! Thanks a mil! Bob Dear Moe,
2000 got the house. 2004 refi with Ameriquest. Then HSBC sent letter to us they purchased the loan and is servicing since then. HSBC is a royal pain…and a master of misinformation…

Now here’s our saga…now that we are requesting loan modification, they are claiming that my lender is private and will not further modify may loan.. Told them that what they gave me is not a modification, but only an instruction from them. We never signed any written agreement of the modification since we do not agree with this direction so this is not suppose to be binding. Our original rate is 6.0% which is good at that time, and pays $2,512. monthly. I requested just to extend the loan so monthly will be affordable…They gave us temporary 6 months 5.25% that will knock down about $80.00 off our original monthly payment…Wow!!! not even enough to buy my medicine and sanitary napkins!!!

They are insisting they can not do anything… now my house is in default recorded in 11-25-09 and tentatively by 2-25-10 is the sale date. HELP!!!

Thanks a mil!
Bob

]]> By: d http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-439 d Thu, 19 Jun 2008 16:27:44 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-439 I was not dealing with Countrywide. But, the fact that payments were starting to be late, I think helped my case. Although, I know people say you can broker the deal even with on-time payments, my mortgage company would not listen to anything until payments started to be late and I had a contract in hand. I got really lucky set my own price and got a contract within 7 days after having house on market for 1 year. I was not dealing with Countrywide. But, the fact that payments were starting to be late, I think helped my case. Although, I know people say you can broker the deal even with on-time payments, my mortgage company would not listen to anything until payments started to be late and I had a contract in hand. I got really lucky set my own price and got a contract within 7 days after having house on market for 1 year.

]]> By: Carrie http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-438 Carrie Wed, 18 Jun 2008 15:35:00 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-438 Cynthia, First & foremost you are NOT alone !!!! There are many in your same situation, I highly recommend that you check out www.loansafe.org but exactly: http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/ These are people like you and me that have dealt with or are dealing with CountryWide. GOOD LUCK !!!!!!! Cynthia,
First & foremost you are NOT alone !!!!
There are many in your same situation, I highly recommend that you check out http://www.loansafe.org
but exactly: http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/

These are people like you and me that have dealt with or are dealing with CountryWide.

GOOD LUCK !!!!!!!

]]> By: Cynthia Villarreal http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-437 Cynthia Villarreal Wed, 18 Jun 2008 14:13:38 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-437 Hello, I have been trying to work with country wide for quite sometime now for some sort of help in modifying my first loan. I am in a sub-prime 80/20 loan at this time with my first at the point of adjusting July 2008. They give me the runaround and say value is too low....nothing thay can do. On both of my loans I am current. Someone suggested a short sale. I was told to stop making the payments and start the procedure. My question is: Is it better to stop making payments, or to continue? Hello, I have been trying to work with country wide for quite sometime now for some sort of help in modifying my first loan. I am in a sub-prime 80/20 loan at this time with my first at the point of adjusting July 2008. They give me the runaround and say value is too low….nothing thay can do. On both of my loans I am current. Someone suggested a short sale. I was told to stop making the payments and start the procedure. My question is: Is it better to stop making payments, or to continue?

]]> By: d http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-429 d Thu, 05 Jun 2008 15:25:06 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-429 Kim: You can expect about 80-90 point drop. I had two short sales one in Jan 2007 other in August 2007. My mid score was around 690/700 and mid dropped to low 580. Currently mid at 680. Hope this helps. BUT, DURING SHORT NEGOTIATIONS EVERYTHING EXCEPT MORTGAGE WAS PAID ON-TIME. Kim:

You can expect about 80-90 point drop. I had two short sales one in Jan 2007 other in August 2007. My mid score was around 690/700 and mid dropped to low 580. Currently mid at 680. Hope this helps. BUT, DURING SHORT NEGOTIATIONS EVERYTHING EXCEPT MORTGAGE WAS PAID ON-TIME.

]]> By: Kim http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-436 Kim Wed, 04 Jun 2008 03:34:25 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-436 I was just curious if Michael or anyone had an update on how bad your credit get hurt by doing a short sale when you have not missed any payments and are current up until the sale? Michael blogged about a client that had a 778 score in January and was going to follow up. I was curious. My score is around 790 and I just had a short sale accepted on one of my investment properties and have been told by credit repair specialists I can expect a 10-50 point drop and the bank tells me about a 100-150 point drop. I have no debt, make good money, and no lates ever. Any thoughts? I was just curious if Michael or anyone had an update on how bad your credit get hurt by doing a short sale when you have not missed any payments and are current up until the sale? Michael blogged about a client that had a 778 score in January and was going to follow up. I was curious. My score is around 790 and I just had a short sale accepted on one of my investment properties and have been told by credit repair specialists I can expect a 10-50 point drop and the bank tells me about a 100-150 point drop. I have no debt, make good money, and no lates ever. Any thoughts?

]]> By: d http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-431 d Tue, 20 May 2008 14:34:55 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-431 ditto...to the note on tax implications. You will not have to pay money on the shorted amount. Yes, you should try to find a real estate agent who specializes in short sales and who is well versed in the area. You can inform yourself by doing your research via internet. Just remember: The BPO drives the banks decision to accept the short sale. ditto…to the note on tax implications. You will not have to pay money on the shorted amount. Yes, you should try to find a real estate agent who specializes in short sales and who is well versed in the area. You can inform yourself by doing your research via internet. Just remember: The BPO drives the banks decision to accept the short sale.

]]> By: d http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-432 d Tue, 20 May 2008 14:31:33 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-432 I had a real estate agent, but, I was not changed any fees like the one stated above. I worked out the short sale and the money issues with the two lien holders myself. Then the senior agent on the deal came in at the last minute to influence the deal and finalize all numbers. So, I don't think you should have to pay for fees to do the short sale. I had a real estate agent, but, I was not changed any fees like the one stated above. I worked out the short sale and the money issues with the two lien holders myself. Then the senior agent on the deal came in at the last minute to influence the deal and finalize all numbers. So, I don’t think you should have to pay for fees to do the short sale.

]]> By: Jenna http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-433 Jenna Mon, 19 May 2008 21:28:48 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-433 I am moving out of state and so our house is up for a short sale. Our realtor who specializes in short sales told us that his fees are paid by the bank, so I wouldn't trust anyone who makes you pay them. Obviously you are in a hard situation, if you can't pay your mortgage, how can you pay a company to do a short sale. Funny part is our lender FREEMONT LOAN AND INVESTMENT knew we were going to do a short sale and they just sold our loan. How easy for them. Anyways, if we get no offers soon, we are just going to file bankruptcy and put this behind us. And NO, they can not report the difference between a short sale to the IRS as income. Bush just passed a law this year that prohibts them from doing it. He says you are already going to face a foreclosure or banko how can the federal government hit you now with more fees that you can't pay. I thnk this was only good until 2009 so better get on it! I am moving out of state and so our house is up for a short sale. Our realtor who specializes in short sales told us that his fees are paid by the bank, so I wouldn’t trust anyone who makes you pay them. Obviously you are in a hard situation, if you can’t pay your mortgage, how can you pay a company to do a short sale.
Funny part is our lender FREEMONT LOAN AND INVESTMENT knew we were going to do a short sale and they just sold our loan. How easy for them.
Anyways, if we get no offers soon, we are just going to file bankruptcy and put this behind us.

And NO, they can not report the difference between a short sale to the IRS as income. Bush just passed a law this year that prohibts them from doing it. He says you are already going to face a foreclosure or banko how can the federal government hit you now with more fees that you can’t pay. I thnk this was only good until 2009 so better get on it!

]]> By: joseph goldstein http://loanworkout.org/2007/08/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-435 joseph goldstein Fri, 16 May 2008 19:17:14 +0000 http://loanworkout.org/2007/08/03/avoid-foreclosure-with-moe-ask-me-any-questions-and-i-will-help-for-free/#comment-435 when I found an agent to attempt to represent me on a short sale I was informed that I would have to pay, up front, a non-refundable short sale fee of $275 plus a remodification fee (whatever that means) of $350. This means a layout of $625, non-refundable, for a best-efforts job. Is this an industry standard, or is it reasonable? Obviously this is a lot of money for someone to pay when he is also in a foreclosure situation. when I found an agent to attempt to represent me on a short sale I was informed that I would have to pay, up front, a non-refundable short sale fee of $275 plus a remodification fee (whatever that means) of $350. This means a layout of $625, non-refundable, for a best-efforts job. Is this an industry standard, or is it reasonable? Obviously this is a lot of money for someone to pay when he is also in a foreclosure situation.

]]>