Section for Seconds - Loan Modification Forum

LetsMakeADeal · 04-13-2009, 07:51 PM

I have a request...btw...AWESOME site and I am not even kissing up.

Request...

Is there any way you would consider another category or at least a link for " 2nd Mortgage Success, Modifications and Negotiations"? I really think there are enough people looking for help in that area and it's really tough to find info anywhere on the net.

I'm guessing...we're not alone.

Thanks for listening.

DaveFred · 04-13-2009, 07:53 PM

Quote:

Originally Posted by LetsMakeADeal

I have a request...btw...AWESOME site and I am not even kissing up.

Request...

Is there any way you would consider another category or at least a link for " 2nd Mortgage Success, Modifications and Negotiations"? I really think there are enough people looking for help in that area and it's really tough to find info anywhere on the net.

I'm guessing...we're not alone.

Thanks for listening.

I would love to see that too,

The Professor · 04-13-2009, 10:28 PM

Makes sense to me....

Daniel

Enough Already · 04-14-2009, 03:49 AM

I was thinking the same thing. That would be great info to have on the site.

baileys dad · 04-14-2009, 07:30 AM

another vote

mirkus35 · 04-14-2009, 08:54 AM

sounds like a great idea!

melanieg · 04-14-2009, 09:26 AM

That would be great! VERY difficult to find info on 2nds!!

Broke in AZ · 04-14-2009, 12:20 PM

Great idea!! Another vote here!

LetsMakeADeal · 04-14-2009, 02:55 PM

So do you think we are like that tree in the forest...the one nobody hears, but we know it made some noise?

ORNV3 · 04-14-2009, 05:24 PM

Yep... second mortgages are a serious problem. I know I'm totally worried about mine! I would love to hear from some people who have had success/failure with settling seconds.

LVsucks · 04-21-2009, 11:43 PM

I second the motion

DaveFred · 04-22-2009, 12:06 AM

It seems to me that most of the attention goes to those that are trying to work out loan mods on the 1st's and 2nd's are just not as high on the pecking order.
I can say from my perspective it is far harder to get loan mods done on 2nds because they for the most part are recourse loans and the lenders have less incentive to work things out. In this current market most seconds are totally upside down and you would think that lenders would be jumping at the chance to salvage what ever they can but I just do not see that happening so far.
I know in my case anyways It is far more important to work out a reasonable loan mod with my 2nd because the interest rates on my 2nd is way out of line with current market rates and will eat me alive if I cant get it down. So far all I have been offered from my second (HSBC) is a temp 6 mos rate reduction that is just about useless in the big scheme of things. I will play there game to a point but in the end if I don't get a workable solution they get nothing because my 1st is holding all the marbles.
Rant Over,

LetsMakeADeal · 04-29-2009, 02:00 PM

Metoo...and that is why I am requesting a "2nd SECTION" in this forum. I mean heck...Obama sees the need to fix the second problems...I'm guessing if he thinks it's important that maybe the leaders on this forum will soon catch on???

jaskoo · 04-29-2009, 02:48 PM

That is awesome idea. whooo

dudeobides · 04-29-2009, 05:04 PM

another Yes... maybe also a florida thread. I've been telling everyone I know about this web-blog. It's the best!!!

04-13-2009, 07:51 PM	#1 (permalink)
LetsMakeADeal Senior Member Join Date: Jan 2009 Posts: 54 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Section for Seconds I have a request...btw...AWESOME site and I am not even kissing up. Request... Is there any way you would consider another category or at least a link for " 2nd Mortgage Success, Modifications and Negotiations"? I really think there are enough people looking for help in that area and it's really tough to find info anywhere on the net. I'm guessing...we're not alone. Thanks for listening.

04-13-2009, 10:28 PM	#3 (permalink)
The Professor Senior Member Join Date: Jul 2008 Location: 49er Gold Country Posts: 1,543 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds Makes sense to me.... Daniel

04-14-2009, 03:49 AM	#4 (permalink)
Enough Already Senior Member Join Date: Jan 2009 Posts: 438 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds I was thinking the same thing. That would be great info to have on the site.

04-14-2009, 07:30 AM	#5 (permalink)
baileys dad Senior Member Join Date: Feb 2009 Location: Santa Cruz, Ca!!!! Posts: 263 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds another vote

04-14-2009, 08:54 AM	#6 (permalink)
mirkus35 Senior Member Join Date: Sep 2008 Posts: 83 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds sounds like a great idea!

04-14-2009, 09:26 AM	#7 (permalink)
melanieg Senior Member Join Date: Aug 2008 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds That would be great! VERY difficult to find info on 2nds!!

04-14-2009, 12:20 PM	#8 (permalink)
Broke in AZ Member Join Date: Dec 2008 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Section for Seconds Great idea!! Another vote here!

04-14-2009, 02:55 PM	#9 (permalink)
LetsMakeADeal Senior Member Join Date: Jan 2009 Posts: 54 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds So do you think we are like that tree in the forest...the one nobody hears, but we know it made some noise?

04-14-2009, 05:24 PM	#10 (permalink)
ORNV3 Senior Member Join Date: Jan 2009 Posts: 168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds Yep... second mortgages are a serious problem. I know I'm totally worried about mine! I would love to hear from some people who have had success/failure with settling seconds.

04-21-2009, 11:43 PM	#11 (permalink)
LVsucks Member Join Date: Apr 2009 Location: Las Vegas, NV Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds I second the motion

04-22-2009, 12:06 AM	#12 (permalink)
DaveFred Senior Member Join Date: Apr 2009 Posts: 33 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds It seems to me that most of the attention goes to those that are trying to work out loan mods on the 1st's and 2nd's are just not as high on the pecking order. I can say from my perspective it is far harder to get loan mods done on 2nds because they for the most part are recourse loans and the lenders have less incentive to work things out. In this current market most seconds are totally upside down and you would think that lenders would be jumping at the chance to salvage what ever they can but I just do not see that happening so far. I know in my case anyways It is far more important to work out a reasonable loan mod with my 2nd because the interest rates on my 2nd is way out of line with current market rates and will eat me alive if I cant get it down. So far all I have been offered from my second (HSBC) is a temp 6 mos rate reduction that is just about useless in the big scheme of things. I will play there game to a point but in the end if I don't get a workable solution they get nothing because my 1st is holding all the marbles. Rant Over,

04-29-2009, 02:00 PM	#13 (permalink)
LetsMakeADeal Senior Member Join Date: Jan 2009 Posts: 54 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds Metoo...and that is why I am requesting a "2nd SECTION" in this forum. I mean heck...Obama sees the need to fix the second problems...I'm guessing if he thinks it's important that maybe the leaders on this forum will soon catch on???

04-29-2009, 02:48 PM	#14 (permalink)
jaskoo Member Join Date: Mar 2009 Posts: 21 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds That is awesome idea. whooo

04-29-2009, 05:04 PM	#15 (permalink)
dudeobides Member Join Date: Mar 2009 Location: florida Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Section for Seconds another Yes... maybe also a florida thread. I've been telling everyone I know about this web-blog. It's the best!!!

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