Giving Fransen & Molinaro a try for modification!

[quackster]

Hi everyone,
My name is Matt and my wife and I have decided to try Fransen & Molinaro to get are loan mod done. We live in West Sacramento and are upside down in our house. I am plumber and have had my hours cut in half since February. My wife is a school teacher with no worries of being let go. We owe 440,000 on our house witch is worth about 285,000. We are 4 years into a 10 year intrest only loan with a HELOC. Are first is 380,000 fixed at 6.875%. Are second is 60,000 with an adjustable rate. Our goal is to get out of this loan into fixed loan at a low rate. We are no longer able to make are house payment and are currently 15 days late.
We have sent all are information to Fransen and Molinaro and are working with a gentleman named Rick Curl. He has been very professional and great to work with through the process so far. We will keep everyone informed on our progress.

[Moe Bedard]

Hi Matt,


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



Keep us posted on your progress.........

[Evan Bedard]

Hi Matt,

Just a quick tip, BofA is working a lot more timely and professional with borrowers that are deliquent. From my personal experience when BofA took over CW completely they now will not offer modifications to borrwers that are current. The bank feels that since they continue to make their payments on time there is no real hardship. Take care and stay strong through these hard times.

[NeedHelpwCW]

I am current with my loan with Countrywide (now BofA). I went through NACA and was recently approved for a interest rate reduction for the remainder of the loan (26 more years to go). It took less about 6 weeks to get this approval. Good luck.

[jack057]

how are things coming along??

[MagicDude]

Originally Posted by Evan Bedard

BofA is working a lot more timely and professional with borrowers that are deliquent. From my personal experience when BofA took over CW completely they now will not offer modifications to borrwers that are current.

That is pretty messed up! So... I was over 30 days late in June (for the first time EVER) and managed to get caught up in July.
Now I am about to be over 30 days late again in August and was considering borrowing money from a friend or relative so that my credit wouldn't take another hit (some of my cards lowered the credit limit).
So should I just wait it out for a bit?
(I have already sent the Email to OOP... Just waiting to be assigned a negotiator.)

[ama125]

Originally Posted by MagicDude

That is pretty messed up! So... I was over 30 days late in June (for the first time EVER) and managed to get caught up in July.
Now I am about to be over 30 days late again in August and was considering borrowing money from a friend or relative so that my credit wouldn't take another hit (some of my cards lowered the credit limit).
So should I just wait it out for a bit?
(I have already sent the Email to OOP... Just waiting to be assigned a negotiator.)

Did you hear back from a customer advocate in OOP yet? If not, that's who you'll hear from first and that person will then assign a negotiator. I know the guidelines say you don't have to be late, but priority is being given to those who are late. I compare it to a train wreck...the people in the back car are wounded and their legs are pinned so they need help. But the people in the front car had their legs severed off and are bleeding out. Attention will be given to those in the front car first. I like looking at it this way...gives the whole thing a warm, fuzzy fairytale feel

[MagicDude]

Originally Posted by ama125

I compare it to a train wreck...the people in the back car are wounded and their legs are pinned so they need help. But the people in the front car had their legs severed off and are bleeding out. Attention will be given to those in the front car first. I like looking at it this way...gives the whole thing a warm, fuzzy fairytale feel

OMG!
I am busy reading through some of your posts in various threads to check out your "back story" (to see what I might be up against) and you are freakin' HILARIOUS!

[tazzaro]

Hi,
I was just wondering how things went for you? My husband and I are also going to call Fransen and Molinaro now. I've been at this modification for nearly a year after being burned badly by another "loan modification company" prior to that. Now I'm back to considering help as Citi has been completely unresponsive. I hope you have had decent luck w/ them (??)
Thanks for any insight.
Tammy