ASC loan mod - Loan Modification Forum

peanut · 03-30-2009, 09:57 AM

My 1st lender is ASC and they have started a loan mod for me it is suppose to reduce my rate from a ARM which has already went up twice to a fixed 6.5 % rate, which I think is good.
My question is I also have a second with Country Wide will they also give me a loan mod my rate is 11% fixed with them.
1st loan $266,000 second one is $66,000 and I have not made a payment in over 1 year to either of them due to a mix
up with my esgrow over taxes. The first loan ASC has sent me a motion summary for final judgement last week.

Marshall Rosenbach Esq. · 03-30-2009, 10:06 AM

I cannot give you advice specific to your situation since I have not spoken to you or seen your situation, but you should contact Countrywide and see if you qualify for a loan modification under Countrywide's settlement with the Florida Attorney general.

peanut · 03-30-2009, 10:39 AM

Thanks, I am going to do that today.

red2720l · 03-30-2009, 11:19 AM

American Servicing co sold my home Feb17. What happened to the Fannie Mae moratorium
I thought it was extended to Mar 7. I just moved from there. I had an Fha loan co working on it. They didn't even acknowledge them. They offered me a terrible loan that was way above 38% of my income

peanut · 03-30-2009, 12:38 PM

From what I hear ASC does not have to comply with the Fannie Mae deal.

03-30-2009, 09:57 AM	#1 (permalink)
peanut Member Join Date: Mar 2009 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	ASC loan mod My 1st lender is ASC and they have started a loan mod for me it is suppose to reduce my rate from a ARM which has already went up twice to a fixed 6.5 % rate, which I think is good. My question is I also have a second with Country Wide will they also give me a loan mod my rate is 11% fixed with them. 1st loan $266,000 second one is $66,000 and I have not made a payment in over 1 year to either of them due to a mix up with my esgrow over taxes. The first loan ASC has sent me a motion summary for final judgement last week.

03-30-2009, 10:06 AM	#2 (permalink)
Marshall Rosenbach Esq. Real Estate & Mortgage Law Attorney Join Date: Jan 2008 Posts: 88 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: ASC loan mod I cannot give you advice specific to your situation since I have not spoken to you or seen your situation, but you should contact Countrywide and see if you qualify for a loan modification under Countrywide's settlement with the Florida Attorney general. __________________ Law Offices of Marshall E. Rosenbach Please call me anytime at (561) 627-8990 www.FloridaLoanLaw.com The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Licensed to practice law in the states of California & Florida.

03-30-2009, 10:39 AM	#3 (permalink)
peanut Member Join Date: Mar 2009 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: ASC loan mod Thanks, I am going to do that today.

03-30-2009, 11:19 AM	#4 (permalink)
red2720l Member Join Date: Mar 2008 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: ASC loan mod American Servicing co sold my home Feb17. What happened to the Fannie Mae moratorium I thought it was extended to Mar 7. I just moved from there. I had an Fha loan co working on it. They didn't even acknowledge them. They offered me a terrible loan that was way above 38% of my income

03-30-2009, 12:38 PM	#5 (permalink)
peanut Member Join Date: Mar 2009 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: ASC loan mod From what I hear ASC does not have to comply with the Fannie Mae deal.

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