Need Help with CCO Mortgage Mod - Loan Modification Forum

Cabrio57 · 12-26-2008, 08:36 PM

Hello,
I am new to this forum and would like to begin the process, but am not sure where to begin.
I'm not even sure that I can do anything, but I want to at least see what my options are.
Doesn't anyone have any info on CCO Mortgage (Charter One Mortgage) and how they were to work with?
Any info you can provide is greatly appreciated.
Thank you in advance.

Moe Bedard · 12-26-2008, 10:25 PM

Hi Cabrio57,

Welcome to the forum and thank you for joining.............
Is Charter One your mortgage servicer?
Have you tried to contact them to start the modification process?
What is your interest rate at?
Is it fixed or adjustable?
If adjustable when is it adjusting?
Are you paying interest only?
What is your loan amount?
Do you have one loan or two?
Are you in default now?
What is the hardship?
What state are you in?

Cabrio57 · 12-29-2008, 08:21 PM

Hi ***,
Thank you so much for the response. Here are the answers to your questions....
Is Charter One your mortgage servicer? YES CHARTER ONE IS OUR MORTGAGE SERVICER.
Have you tried to contact them to start the modification process? I HAVE NOT TRIED TO CONTACT THEM YET. I WANTED TO SEE IF ANYONE HAD DEALT WITH THEM YET BEFORE I DID.
What is your interest rate at? 7.00%
Is it fixed or adjustable? FIXED
If adjustable when is it adjusting?
Are you paying interest only? NO, WE ARE PAYING PRINCIPAL AND INTEREST.
What is your loan amount? LOAN AMOUNT NOW IS ABOUT 315K
Do you have one loan or two? ONE LOAN
Are you in default now? NO, NEVER LATE.......YET.
What is the hardship? I HAD TO CHANGE JOBS RECENTLY AND AM MAKING ABOUT 1/2 OF WHAT I WAS USED TO AND MY HUSBAND WAS RECENTLY LAID OFF AS WELL. HE FOUND ANOTHER JOB AS WELL, BUT OUR INCOME IS SO DRASTICALLY LESS THAN WHAT IT WAS BEFORE. WE CAN'T SELL SINCE WE OWE WAY MORE THAN IT'S WORTH AND THE PAYMENTS ARE GETTING HARDER AND HARDER TO MAKE.
What state are you in? ILLINOIS

Thank you so much for your help. I hope that I have answered all your questions.

Moe Bedard · 12-29-2008, 08:44 PM

The modifications given are up to the investor on the loan.......so to get the process started....put together a hardship letter.........click on the link for examples...........
Examples of a Hardship Letter

Then contact Charter One and ask what options the investor on your loan has for modification due to hardship........

Charter One Loss Mitigation
(800) 234-6002

Please keep us posted on your progress.........

12-26-2008, 08:36 PM	#1 (permalink)
Cabrio57 Junior Member Join Date: Nov 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Need Help with CCO Mortgage Mod Hello, I am new to this forum and would like to begin the process, but am not sure where to begin. I'm not even sure that I can do anything, but I want to at least see what my options are. Doesn't anyone have any info on CCO Mortgage (Charter One Mortgage) and how they were to work with? Any info you can provide is greatly appreciated. Thank you in advance.

12-26-2008, 10:25 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Need Help with CCO Mortgage Mod Hi Cabrio57, Welcome to the forum and thank you for joining............. Is Charter One your mortgage servicer? Have you tried to contact them to start the modification process? What is your interest rate at? Is it fixed or adjustable? If adjustable when is it adjusting? Are you paying interest only? What is your loan amount? Do you have one loan or two? Are you in default now? What is the hardship? What state are you in? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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. Most of the information you find here is easily available on the internet. 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. Please Read our Privacy Policy and Legal Disclaimer Here.

12-29-2008, 08:21 PM	#3 (permalink)
Cabrio57 Junior Member Join Date: Nov 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Need Help with CCO Mortgage Mod Hi ***, Thank you so much for the response. Here are the answers to your questions.... Is Charter One your mortgage servicer? YES CHARTER ONE IS OUR MORTGAGE SERVICER. Have you tried to contact them to start the modification process? I HAVE NOT TRIED TO CONTACT THEM YET. I WANTED TO SEE IF ANYONE HAD DEALT WITH THEM YET BEFORE I DID. What is your interest rate at? 7.00% Is it fixed or adjustable? FIXED If adjustable when is it adjusting? Are you paying interest only? NO, WE ARE PAYING PRINCIPAL AND INTEREST. What is your loan amount? LOAN AMOUNT NOW IS ABOUT 315K Do you have one loan or two? ONE LOAN Are you in default now? NO, NEVER LATE.......YET. What is the hardship? I HAD TO CHANGE JOBS RECENTLY AND AM MAKING ABOUT 1/2 OF WHAT I WAS USED TO AND MY HUSBAND WAS RECENTLY LAID OFF AS WELL. HE FOUND ANOTHER JOB AS WELL, BUT OUR INCOME IS SO DRASTICALLY LESS THAN WHAT IT WAS BEFORE. WE CAN'T SELL SINCE WE OWE WAY MORE THAN IT'S WORTH AND THE PAYMENTS ARE GETTING HARDER AND HARDER TO MAKE. What state are you in? ILLINOIS Thank you so much for your help. I hope that I have answered all your questions.

12-29-2008, 08:44 PM	#4 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Need Help with CCO Mortgage Mod The modifications given are up to the investor on the loan.......so to get the process started....put together a hardship letter.........click on the link for examples........... Examples of a Hardship Letter Then contact Charter One and ask what options the investor on your loan has for modification due to hardship........ Charter One Loss Mitigation (800) 234-6002 Please keep us posted on your progress......... __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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. Most of the information you find here is easily available on the internet. 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. Please Read our Privacy Policy and Legal Disclaimer Here.

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