Loan Modification Forum - LoanSafe.org - View Single Post

Moe Bedard · 05-06-2008, 11:17 AM

Hi Susan,

Welcom to the forum and thank you for joining...........

What is the loan amount currently?
What is the value on the house?
What is the current interest rate?
Is it an adjustable rate?
Has it adjusted yet?
Is it interest only?
Are you behind in payments at all?
Is your loan a 40 year now?
What state are you in?

On a modification CW can only offer you what the investor on your loan is offering for modifications. If your loan is currently amortized over 30 years, then the modification will be amortized over the remainder of the term that is left. You would have to refi to change the structure and terms of the loan. A modification will freeze or change the rate only.

05-06-2008, 11:17 AM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,685	Re: Dealing with CountryWide Hi Susan, Welcom to the forum and thank you for joining........... What is the loan amount currently? What is the value on the house? What is the current interest rate? Is it an adjustable rate? Has it adjusted yet? Is it interest only? Are you behind in payments at all? Is your loan a 40 year now? What state are you in? On a modification CW can only offer you what the investor on your loan is offering for modifications. If your loan is currently amortized over 30 years, then the modification will be amortized over the remainder of the term that is left. You would have to refi to change the structure and terms of the loan. A modification will freeze or change the rate only. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.