Loan Modification Forum - LoanSafe.org - View Single Post

Jim B. · 03-04-2009, 05:52 PM

I too have a question about approaching Countrywide for a forebearance while applying for the Obama "Making Homes Affordable" Modification Program.

I am a Realtor in Portland Oregon. Normally I make, on average, between
5K to 7K per month, however, due to the housing crisis, I am maintaining between 10-15 listings consistantly with little or no money coming in and realizing once the lending institutions start freeing up money for buyers my income will increase to make a loan modification make sense. I need about a 4-5 month cushion or in this case forebearance from Countrywide.

***, or anyone, is this feasible? How can I approach Countrywide to make this happen?

03-04-2009, 05:52 PM	#3 (permalink)
Jim B. Senior Member Join Date: May 2008 Posts: 34 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Countrywide Forbearance Agreement I too have a question about approaching Countrywide for a forebearance while applying for the Obama "Making Homes Affordable" Modification Program. I am a Realtor in Portland Oregon. Normally I make, on average, between 5K to 7K per month, however, due to the housing crisis, I am maintaining between 10-15 listings consistantly with little or no money coming in and realizing once the lending institutions start freeing up money for buyers my income will increase to make a loan modification make sense. I need about a 4-5 month cushion or in this case forebearance from Countrywide. ***, or anyone, is this feasible? How can I approach Countrywide to make this happen?