Loan Modification Forum - LoanSafe.org - View Single Post

fresnelman · 12-09-2008, 10:03 AM

We purchased our home in Las Vegas during the 2006 peak. Purchased on golf course for 429k, added 47K pool and about 5K of landscaping. We moved our original loan from builder to our credit union. This mortgage is now serviced by Countrywide and we have a balance of $335k, 30 year fixed and a rate of 6.375%.
Due to the economy my work has dropped off by about 25-35%. We are current with bills, but I think that is about to change this month.
Zillow.com has our house valued at 313.5k
Would any of you guys know if countrywide would even consider modifying our loan?
With one vehicle being paid off in March and a loan modification I could see light at the end of the tunnel.
On a side note, I noticed that my home assessment has increased every year. The county has us assessed at $485,000 right now and they have said I can not appeal until the new year.
Any advise would be greatly appreciated.

12-09-2008, 10:03 AM	#1 (permalink)
fresnelman Member Join Date: Dec 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	What to do We purchased our home in Las Vegas during the 2006 peak. Purchased on golf course for 429k, added 47K pool and about 5K of landscaping. We moved our original loan from builder to our credit union. This mortgage is now serviced by Countrywide and we have a balance of $335k, 30 year fixed and a rate of 6.375%. Due to the economy my work has dropped off by about 25-35%. We are current with bills, but I think that is about to change this month. Zillow.com has our house valued at 313.5k Would any of you guys know if countrywide would even consider modifying our loan? With one vehicle being paid off in March and a loan modification I could see light at the end of the tunnel. On a side note, I noticed that my home assessment has increased every year. The county has us assessed at $485,000 right now and they have said I can not appeal until the new year. Any advise would be greatly appreciated.