Loan Modification | Foreclosure Prevention

Carlos asked:


There is a lot of talk about mortgage modifications, refinancing and new mortgage rules, but most info is so basic that everyone just keeps repeating the stuff already known. Can anyone suggest a place with more advanced and very specific articles stating the facts with references back to the primary sources?

jinxies asked:


We have a 1st mortgage & equity line of credit (maxed) and about $1500 revolving credit balances each month (not including utilities, food and incidentals) with not enough coming in to support it. Looking for a lender in hopes to refinance the 1st & ELOC with no avail. Thinking of asking our current lender to do a Mortgage Modification but not sure if we will qualify. We need to lower our 1st & ELOC to be able to start paying on the credit cards but it’s a lose, lose situation. My husband is talking bankrupcy…we’ve never been late on any payment but it’s now coming close. We have 2 kids & a beautiful home…I’m scared. I’ve been trying to get a job but no one is calling back. Even with that, what I’ll make will only cover groceries and gas for the month.

MANDY asked:


Like most all Americans we are having trouble making ends meet. My spouse is the bread winner and he is a commision based employee and since sales are down so are the paychecks. I am in the process of filing out a mortgage modification letter and getting all the necessary paperwork but wanted to know if there is anything that is especially important (besides the lower paychecks) that will get us the best results for the modification.
Thanks so much! 2009 has got to be better right?

Surely I’m happy.. asked:


Considering Florida Mortgage Modification Program, but fear my expenses maybe too high to qualify.

Posh asked:


Could you please help me with my mortgage modification, I need to know if debt to income ratio is a factor in being approved. I also would like to know how much of a reduction the mortgage company can approve. Thank you.

mortgage? asked:


I need a mortgage modification company that is ligit….

Supreme asked:


Ok so of course hearing the title makes you think “how irresponsible!” But this semester I paid off half of my tuition with cash, so I have about $3000 extra loan money for this semester alone. Next semester is will still be taken care of with the other half of the entire loan so no worries there.

But the repairs would cost about $1500 easily. Not like I am doing cosmetic modifications, but I need the car to be driving if I expect to be mobile here lol. Although the money is supposed to be used for living expenses, I don’t have to pay rent or anything so financially I would still be fine. I just want to see what everyone elses opinion is on this situation.