Investors Decision

[maja09]

All of us have been concerned inregards to requesting loan modification and trying to save our home. Its seems like we have been putting the same effort to reach out to the lenders and be at their mercy to again allow us to stay in our house. My concern is " Does anyone know how the investors can come up with the decision to what kind of loan modification is appropriate to our situation. I know the so-called Loan Mod Negotiators plugs in information on their data base but what is the actual calculation. Most of us have suffered a job loss or income reduction. In this regard how come the lender cannot just simply say " okay, since you are behind with your mortgage and you are willing to pay we will go ahead and arrange for the delinquent payment amounts to be added to the end of the loan. What are the determining factors that the investor use to come up with this kind of decision. What are the guidelines the investors have to go by? I have applied with IndyMac bank for loan mod and the gal I was speaking to just simply took my info over the phone and after 10-15 minutes offered me a rate reduction with an initial payment amount not curing the delinquent amount I owed. Its mind boggling trying to understand the investors point of view. Its seem like to apply for loan mod is chasing our own shadow. Not really going anywhere. Just going around in circles.

[newjersey24]

SImple Like that? 10-15minutes later and you got an reduction rate offer?


What was your terms before? What did they offer?

Did you accept it?

Very interesting, I wish it was all that easy.

[Chazzy]

its sounds like you got the modification offer and the inverstor said no based on their guidelines. I if you got the modification that is amazing indymac is tough but if you didnt hang in there these inverstors have a thing called karma looking for them i wish you the best and hope all is well