Comments on: These Loans Were Destined to Fail http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/ Loan Modification & Home Loan News Fri, 19 Mar 2010 20:49:15 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Lynn Hansen http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-4218 Lynn Hansen Wed, 02 Apr 2008 23:08:10 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-4218 Linda & Alberto, if you haven't already, you might want to work with a HUD-certified non-profit housing counselor. They will work with you individually--I think at no cost. They will review your situation and either help you negotiate better terms with your lender or help you find a new loan. You can find one of these nonprofit counselors on the Web. You might try ACORN Housing Corporation. Their website is www.acornhousing.org. Click on the "Behind on Your Mortgage?" tab. (You don't have to be behind to get started on fixing this.) Best of luck! Linda & Alberto, if you haven’t already, you might want to work with a HUD-certified non-profit housing counselor. They will work with you individually–I think at no cost. They will review your situation and either help you negotiate better terms with your lender or help you find a new loan. You can find one of these nonprofit counselors on the Web. You might try ACORN Housing Corporation. Their website is http://www.acornhousing.org. Click on the “Behind on Your Mortgage?” tab. (You don’t have to be behind to get started on fixing this.) Best of luck!

]]> By: Alberto Ramirez http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-4217 Alberto Ramirez Mon, 17 Mar 2008 03:59:02 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-4217 I am in the same situation as Linda Bryant, done everything and still hoping to find a way out of this problem. any advise? I am in the same situation as Linda Bryant, done everything and still hoping to find a way out of this problem. any advise?

]]> By: Linda Bryant http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-4216 Linda Bryant Mon, 10 Mar 2008 15:28:49 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-4216 I am on a adjustable rate mortgage. I have faithfully pd my $1916 every month. I have until Sept to get off of this. I have been trying to get onto a fixed rate but come to find out my home is values less than what I owe. I know the rate can go up to 17% and I know I won't be able to afford this and i'm scared that they will eventually in up foreclosing on my home...I hava a high debt ratio I know this...can u help I am on a adjustable rate mortgage. I have faithfully pd my $1916 every month. I have until Sept to get off of this. I have been trying to get onto a fixed rate but come to find out my home is values less than what I owe. I know the rate can go up to 17% and I know I won’t be able to afford this and i’m scared that they will eventually in up foreclosing on my home…I hava a high debt ratio I know this…can u help

]]> By: Lena http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10041 Lena Fri, 29 Feb 2008 00:56:01 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10041 Amazing. I am speechless with how well you articulated this, Poppy. I am printing this out NOW! You deserve a microphones and news crews! Amazing. I am speechless with how well you articulated this, Poppy. I am printing this out NOW!

You deserve a microphones and news crews!

]]> By: Patricia http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10039 Patricia Wed, 20 Feb 2008 10:46:17 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10039 YOU GO GIRL! YOU GO GIRL!

]]> By: David http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10040 David Mon, 18 Feb 2008 20:31:03 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10040 I WANT TO HIRE YOU TO WORK OUT MY 7 MORTGAGES! I lost my business and was paying on time for over a year! Sigh - unfortunately there's only one of you and we need thousands. I WANT TO HIRE YOU TO WORK OUT MY 7 MORTGAGES! I lost my business and was paying on time for over a year! Sigh – unfortunately there’s only one of you and we need thousands.

]]> By: marie http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10038 marie Wed, 13 Feb 2008 23:16:31 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10038 Thanks for your post..it cleared up some things for me. I am in month 3 of an agreement to modify at the end of 6 months.....In the meantime Ive had an offer on my home....I requested payoff figures from my lender and was quite surprised that once they added fees and attorneys costs my $422,000 was now $450,000 ---$28,000!!! ridiculous Thanks for your post..it cleared up some things for me. I am in month 3 of an agreement to modify at the end of 6 months…..In the meantime Ive had an offer on my home….I requested payoff figures from my lender and was quite surprised that once they added fees and attorneys costs my $422,000 was now $450,000 —$28,000!!! ridiculous

]]> By: John beck http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-4215 John beck Fri, 08 Feb 2008 09:23:07 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-4215 Foreclosure is a big big problem facing millions of Americans today, unfortunately it is just being address by our politicians to win votes - doing something about it will take them forever! if ever\'e2\'80\'a6\'e2\'80\'a6\'e2\'80\'a6. Foreclosure is a big big problem facing millions of Americans today, unfortunately it is just being address by our politicians to win votes – doing something about it will take them forever! if ever\’e2\’80\’a6\’e2\’80\’a6\’e2\’80\’a6.

]]> By: Tom http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10037 Tom Tue, 05 Feb 2008 05:59:49 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10037 This is good . . . goes right along with what I was saying. That price tag was too high to begin with. God bless these folks . . . Excerpt from: Time to reappraise system that's all too open to abuse By Mitchell SchnurmanStar-Telegram Staff Writer "No place has been immune to inflating the numbers, and bad appraisals lead to bad loans," said John Brenan, director of research and technical issues for The Appraisal Foundation, an organization authorized by Congress to set standards and qualifications for the industry. This is good . . . goes right along with what I was saying. That price tag was too high to begin with. God bless these folks . . .

Excerpt from:

Time to reappraise system that’s all too open to abuse
By Mitchell SchnurmanStar-Telegram Staff Writer

“No place has been immune to inflating the numbers, and bad appraisals lead to bad loans,” said John Brenan, director of research and technical issues for The Appraisal Foundation, an organization authorized by Congress to set standards and qualifications for the industry.

]]> By: Tom http://loanworkout.org/2008/01/these-loans-were-destined-to-fail/#comment-10030 Tom Thu, 31 Jan 2008 01:50:09 +0000 http://loanworkout.org/2008/01/29/these-loans-were-destined-to-fail/#comment-10030 I'm only kidding by the way. But good on ya! I’m only kidding by the way. But good on ya!

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