Old 08-25-2009, 11:02 AM   #1 (permalink)
Junior Member
  
 
jiggawhat's Avatar
 
Join Date: Aug 2009
Posts: 1
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
jiggawhat is on a distinguished road
SLS Loan Modification Offer.

Hello all,

We have two homes, one we are currently trying to rent and the other we are currently living in.

The one we are trying to rent has been slow going, but lately has been picking up traction in terms of visitors. We have a loan with Countrywide currently. We’d like to keep that one if possible so that we can hopefully wait until the market picks up a bit and try to sell again but at least rent in the meantime.

The mortgage on the home we are living in is held by SLS and is an option arm (actually have a second with National City as well). We have been paying the minimum for the last couple years and I’ve been trying to get a loan mod done on it.
So far, we’ve been offered a step-rate modification at :

2% for the first year
3.25% for the second
4% for the third which will be locked for the life of the loan.

They say this is the best they can do. I don’t believe it is. They say these are the guidelines that the lender who owns are mortgage is offering (Wachovia).

I’ve been mostly speaking with the loan agents, but have requested to speak with a manager but not sure if that’s going to help.

Thoughts on getting a better offer?

Thanks.


jiggawhat is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Share with Facebook
 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 02:05 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.2.0
Copyright 2009 LoanSafe.org and MoeSeo Inc. All Rights Reserved. Home Loan, Loan Modification & Foreclosure Help Forum - LoanSafe.org

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100