Comments for Northern California Mortgage Mods http://norcalmortgagemods.com Surviving the mortgage mess Wed, 01 Feb 2012 04:19:22 -0800 hourly 1 http://wordpress.org/?v=3.1 Comment on 5 Things That Can Be Done If You Are Behind In Your Mortgage Payment by Behind in Your House Payments? Sell. – Northern California Mortgage Mods http://norcalmortgagemods.com/2012/01/01/5-things-that-can-be-done-if-you-are-behind-in-your-mortgage-payment/comment-page-1/#comment-12816 Behind in Your House Payments? Sell. – Northern California Mortgage Mods Wed, 01 Feb 2012 04:19:22 +0000 http://norcalmortgagemods.com/?p=463#comment-12816 [...] couple of weeks ago, I wrote an article about five things that can be done if you get behind on your house payments. I promised to take each suggestion in turn, and elaborate on the general [...] [...] couple of weeks ago, I wrote an article about five things that can be done if you get behind on your house payments. I promised to take each suggestion in turn, and elaborate on the general [...]

]]> Comment on New California Law Extends Time Periods For Foreclosures by Christopher C. Smith http://norcalmortgagemods.com/2009/06/16/new-california-law-extends-time-periods-for-foreclosures/comment-page-1/#comment-5705 Christopher C. Smith Sun, 26 Dec 2010 05:00:52 +0000 http://norcalmortgagemods.com/2009/06/16/new-california-law-extends-time-periods-for-foreclosures/#comment-5705 Is this law still in effect as of Dec. 25, 2010 here in California? "California Foreclosure Prevention Act"...we had a loan issued in July 2007(Countrywide) in Ventura Co., CA for $697,000...in construction business here, fell behind on payments, got a loan modification after 15 months with BofA(acquired our Countrywide loan), loan modification dropped monthly principal/interest/impound payments(2% interest for 5 years)...loan mod Fedexed to us from Recontrust mid March 2010...stayed current throught Sept. 2010...filed for chapter 7 bankruptcy on Sept. 13, 2010 with income problems still continuing to stay up with mortgage and bills...debts will be discharged on Jan. 3, 2011...we received NO Notice of Default prior to filing bankruptcy....what can happen next with BofA Home Loans? Do we have "time to buy" to attempt to cure our default with them...work is starting to pick up...much better than last year at this time... Thank you for your assistance...Chris & Suzanne Smith 12/25/2010 Is this law still in effect as of Dec. 25, 2010 here in California? “California Foreclosure Prevention Act”…we had a loan issued in July 2007(Countrywide) in Ventura Co., CA for $697,000…in construction business here, fell behind on payments, got a loan modification after 15 months with BofA(acquired our Countrywide loan),
loan modification dropped monthly principal/interest/impound payments(2% interest for 5 years)…loan mod Fedexed to us from Recontrust mid March 2010…stayed current throught Sept. 2010…filed for chapter 7 bankruptcy on Sept. 13, 2010 with income problems still continuing to stay up with mortgage and bills…debts will be discharged on Jan. 3, 2011…we received NO Notice of Default prior to filing bankruptcy….what can happen next with BofA Home Loans? Do we have “time to buy” to attempt to cure our default with them…work is starting to pick up…much better than last year at this time…

Thank you for your assistance…Chris & Suzanne Smith 12/25/2010

]]> Comment on Got Foreclosure Stories? by Joanna http://norcalmortgagemods.com/2010/10/17/got-foreclosure-stories/comment-page-1/#comment-5198 Joanna Tue, 16 Nov 2010 20:33:56 +0000 http://norcalmortgagemods.com/?p=337#comment-5198 Has anyone tackled the Short Sale issues? We have been trying to get a short sale approved by Citi Mortgage. Since they took over 2 months to assign the file, we lost the buyers. It has taken another 2 months to find new buyers, and now the account has been assigned to a collection agency. Why can't there be limitations and rules on how the lenders are responding to short sale requests? Thanks Joanna Has anyone tackled the Short Sale issues? We have been trying to get a short sale approved by Citi Mortgage. Since they took over 2 months to assign the file, we lost the buyers. It has taken another 2 months to find new buyers, and now the account has been assigned to a collection agency.
Why can’t there be limitations and rules on how the lenders are responding to short sale requests?
Thanks
Joanna

]]> Comment on Beware of Advice from “Loan Mod Experts” by Ron Stone http://norcalmortgagemods.com/2010/01/30/beware-of-advice-from-loan-mod-experts/comment-page-1/#comment-4427 Ron Stone Sun, 27 Jun 2010 21:02:18 +0000 http://norcalmortgagemods.com/?p=322#comment-4427 I also read that the IRS is jumping in the foreclosure game. I read that if a borrower that did a cash out refi, loses their home (whether they walk or not) they will get a nice big tax bill for any write off (income) from their lender. Man, people are getting hit from all sides. It's a war out there and the little guy is losing. I also read that the IRS is jumping in the foreclosure game. I read that if a borrower that did a cash out refi, loses their home (whether they walk or not) they will get a nice big tax bill for any write off (income) from their lender. Man, people are getting hit from all sides. It’s a war out there and the little guy is losing.

]]> Comment on Beware of Advice from “Loan Mod Experts” by William http://norcalmortgagemods.com/2010/01/30/beware-of-advice-from-loan-mod-experts/comment-page-1/#comment-4278 William Mon, 03 May 2010 16:16:24 +0000 http://norcalmortgagemods.com/?p=322#comment-4278 Bankruptcy is a big hurdle to jump so make sure to take a good look at your finances before taking the plunge! Bankruptcy is a big hurdle to jump so make sure to take a good look at your finances before taking the plunge!

]]> Comment on Beware of Advice from “Loan Mod Experts” by James Mucci http://norcalmortgagemods.com/2010/01/30/beware-of-advice-from-loan-mod-experts/comment-page-1/#comment-3963 James Mucci Sat, 03 Apr 2010 18:00:31 +0000 http://norcalmortgagemods.com/?p=322#comment-3963 I highly recomend talking with a real estate attorney, rather than someone who is a "loan mod expert". An attorney whom you have done business with, or know someone who has, will likely provide you the correct and best information. An attorney is going to be accountable for their actions, as opposed to someone who calls themself a loan mod expert. In fact the FDIC warns about the loan modification companies and that help should be free. James Mucci - <a href="http://michiganmortgageadvisor.com/michigan-refinancing-stages-of-the-loan-process/" rel="nofollow">Michigan Refinancing</A> Professional I highly recomend talking with a real estate attorney, rather than someone who is a “loan mod expert”. An attorney whom you have done business with, or know someone who has, will likely provide you the correct and best information. An attorney is going to be accountable for their actions, as opposed to someone who calls themself a loan mod expert.

In fact the FDIC warns about the loan modification companies and that help should be free.

James Mucci –
Michigan Refinancing Professional

]]> Comment on Home Affordable Modifications: The Nuts and Bolts of the Obama Plan by Antoine Adler Sr http://norcalmortgagemods.com/2009/03/31/home-affordable-modifications-the-nuts-and-bolts-of-the-obama-plan/comment-page-1/#comment-3864 Antoine Adler Sr Thu, 25 Mar 2010 16:05:31 +0000 http://norcalmortgagemods.com/?p=160#comment-3864 The HAMP program indeed doesn't seem to be working , how can a person who meets all of the above requirements still be placed in a hold pattern and then potentially denied a modification . Also people need to be made aware that the HAMP program is not honoring the HUD negotiator's terms for re-modification , for instance a negotiation was made for a 4 month forebearance with a modification to 2.5% after the four months taking the arrears to the back of the loan . When the paper work was submitted the wervicer Wells Fargo declined to honor the NACA negotiator's proposal and declared at 5.5% rate and calculations based upon that . This just sounds wrong , and no this is not an urban legend it is happening to me . Of course I am fighting their tentative decision and supplying them with the documentation they requested and the reminder of the OBAMA plan. God help us all. The HAMP program indeed doesn’t seem to be working , how can a person who meets all of the above requirements still be placed in a hold pattern and then potentially denied a modification . Also people need to be made aware that the HAMP program is not honoring the HUD negotiator’s terms for re-modification , for instance a negotiation was made for a 4 month forebearance with a modification to 2.5% after the four months taking the arrears to the back of the loan . When the paper work was submitted the wervicer Wells Fargo declined to honor the NACA negotiator’s proposal and declared at 5.5% rate and calculations based upon that . This just sounds wrong , and no this is not an urban legend it is happening to me . Of course I am fighting their tentative decision and supplying them with the documentation they requested and the reminder of the OBAMA plan. God help us all.

]]> Comment on Waiting for mortgage modification by Heather Mortgage Modification http://norcalmortgagemods.com/2009/06/29/waiting-for-mortgage-modification/comment-page-1/#comment-1613 Heather Mortgage Modification Sun, 23 Aug 2009 03:50:11 +0000 http://norcalmortgagemods.com/?p=261#comment-1613 The government really needs to get involved a lot more. They put this in place and really need to follow through. The lenders are just not getting them through and I think many people feel intimidated by what is involved and are not even going through the process or better yet many of them are being flat out denied. Thanks for the information, hope something really gets done about this one of many problems the American people are facing today. The government really needs to get involved a lot more. They put this in place and really need to follow through. The lenders are just not getting them through and I think many people feel intimidated by what is involved and are not even going through the process or better yet many of them are being flat out denied. Thanks for the information, hope something really gets done about this one of many problems the American people are facing today.

]]> Comment on Mortgage Modification: What’s the Hold-Up? by Heather Mortgage Modification http://norcalmortgagemods.com/2009/06/15/mortgage-modification-whats-the-hold-up/comment-page-1/#comment-1612 Heather Mortgage Modification Sun, 23 Aug 2009 03:47:05 +0000 http://norcalmortgagemods.com/?p=245#comment-1612 I agree with you on dragging their feet. Administration was apalled at how many loans had not been done to help the American people. It is unfortunate that a) there are lenders out there still will to drag their feet, and b) they are turning people away everyday. I am so glad that you put this information on the article. I really wish they would get the message. The lenders are getting bonuses everytime they get loan modifications through, you would think that would be enough. I agree with you on dragging their feet. Administration was apalled at how many loans had not been done to help the American people. It is unfortunate that a) there are lenders out there still will to drag their feet, and b) they are turning people away everyday.

I am so glad that you put this information on the article. I really wish they would get the message. The lenders are getting bonuses everytime they get loan modifications through, you would think that would be enough.

]]> Comment on Share your loan modification experience by Mark vee http://norcalmortgagemods.com/2009/06/13/share-your-loan-modification-experience/comment-page-1/#comment-1576 Mark vee Thu, 20 Aug 2009 16:40:07 +0000 http://norcalmortgagemods.com/?p=247#comment-1576 I just started the process in southern california and am starting a daily blog on my experience. I hope it helps I just started the process in southern california and am starting a daily blog on my experience.
I hope it helps

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