John D asked:


When a company writes of part of a debt, it is then recorded as income to the IRS and you pay taxes on it. Does the loan modifcation work the same way?

Judy

rive_gauche79 asked:


My mother died in April, leaving a home with a mortgage. I am her only child, and have been unable to pay her mortgage; it has gone unpaid for four months. I just received rights as Administrator of her estate, and will now be able to communicate with the mortgage company regarding the home. I do not want to lose the home or sell it now. I would like a loan modification, so I can rent it out, and sell it later when the market has improved. Do mortgage companies grant loan modifications under these circumstances?

Justin

BDZ asked:


I have an ARM. I cannot refinance. How can I go about negotiating a loan modification with my lender. I don’t want to be just a name and account number. I can meet the existing payments and to date have not fallen behind. If they raise the interest rate any further then that will be the tipping point. Are there organizations out there to help me such as HUD, etc. Do I already have to be in default before they’ll consider a loan modification?

Maureen

toohotnky asked:


I am in the process of negotiating a loan modification for our mortgage. Is it always this hard? Do you really have to negotiate constantly with the mortgage company? It seems like its never going to end.

Kelly

mandy asked:


Do I have to be late in payments.
Do I need to hire a company to do so, or could I just do it myself.

Edward

pree j asked:


we hear this company will get our loan modified to fit our budget and to avoid foreclosure.. but they sound too good to be true… anybody know of a company that we can trust?

Katherine

micquinn2003 asked:


I have a loan with Countrywide ( i know sucker) I was laid off from my second job of 24hours a week at 28$ an hour in May In early Oct i found an other job of 37$ an hour but only 8 hours a week. My other account Visa etc is < 15,000 and had a FI-CO CLOSE TO 690 My primary loan is iins erst only 5.625 % and second is 82,000 @ 7.75 I currently under water approx 200,000 I want to keeping the house

Jessica

amok2b asked:


well recently ive been meeting up with a company that claims a loan modification is a bad idea! For one thing, its only a temporary revilement, that it’s no a good move and are “advising” me to get an attorney so he can represent me but im not sure who to trust now a days. I need help in finding the right people to help me so i wont lose my home. Another thing they pointed out was that a loan modification only gives you more debt than how you started because the banks only do so much to “help you” and before you know it, you end up worst than how you started. What should i do?
Ok! at the moment i have not gotten the famous FORECLOSER letter. Right now i am at the point where i have already missed two payments and i owe the bank about 4,000. My payments come in two different bills one is for 848.00 Interest rate is 12.2500% and the second of 1710.00 interest rat is 7.7500% (not including tax property) i have been up to date on my smaller bill but am having a hard time completing the bigger bill. Yearly i pay almost 6,000 on tax alone and i am also not up to date on that. Basically the help i am seeking is someone who wont ***** me over for money and fight for my home. I know i am paying too much for my home because the home value has gone from 540,000 (from when i bought it) to 316,000. Who can help me? should i look for an attorney for this kind of problem?

Lucille

tnhampton1 asked:


The loan payment are too high right now. We don’t have enough equity in the home to refinance. So Loan Modification is our only choice.

Eva

angela m asked:


Our house is going in to foreclosure and we are trying to get a loan modification. My husband found out he is likely to lose his job next month. Will this affect getting a loan modification?

Laura