| Re: Wilshire Loan modification SUCCESS!!
Yes, ***'s entry above is my email to her confirming my success with Wilshire. My loan modification is confirmed. My interest rate was reduced from 9.11% to 7.5% for 36 months. This brought my monthly payment down approximately $280. I submitted my loan modification package in late May and thanks to ***'s advise and Loansafe, I got a pretty quick response because I not only overnighted my package, I also emailed it in to Wilshire per ***'s advise (Thank you *** for providing me with Wilshire's email address). I did copy my state's governor and attorney general on my modification request to let my lender know I would not go down without a fight. Then I continued to email Wilshire requesting a status within about 3 days of having submitted my loan modification request. I was soon assigned a loan workout officer, Judy Apple, who assisted me in fixing up my financial statement. Ms. Apple submitted a loan modification request for me but was asking that my interest rate only be reduced 1% from the teaser rate. Ms. Apple was not allowed to submit a request for a rate any lower than 1%. This is when I decided to email Stacie Bartlett (Stacie_Bartlett@wcc.ml.com), Wilshire's client relation specialist, and I complained that I did not think that reducing my interest by only 1% was fair. I was nice about it and thanked them for their efforts but complained that the interest rate they were planning on keeping me at was still highly predatory and I copied the governor and attorney general again in my email to Ms. Bartlett. I soon received a call from an Allen Carr who I expressed my disagreement with. Mr. Carr was testing the waters with me and wanted to get a feel for what I wanted. That is when I threw 7.5% out there. I said get me 7.5 and I will be happy and that would also help me. I expressed that I was looking out for my best interest. If Wilshire sees even a $400 surplus in your monthly finances they will try to keep you on a monthly payment that will keep you squeezed, they are looking out for their best interest and whoever is negotiating a loan modification with them has to look out for their best interest, ask to speak with someone in management and fight for what is best for you, yet be reasonable and nice. Also, I started my negotiating with Wilshire 2 months before my interest rate was set to reset and also before ever having a late payment. This helps I believe, but even those with late payments should not be afraid to fight to keep their home. Good luck to all future Wilshire Loan Modification requesters. I want to take this time to give a big thanks to Loansafe and *** Damiano. During the whole process I would email *** at her personal email and she always responded with advise and responses to my many questions. Thank you ***! Loansafe is a great site with lots of good information for those trying to avoid foreclosure. My advise to everyone, do not be afraid to stand up and fight to keep your home. Do not be afraid to ask for a lower payment as it is possible, your lender has the ability to do many things to help you, you just have to demand (in a nice way) what is best for you. These Lenders do not want any more homes in their inventory. See what it is that they want to offer and if you feel it is not fair, speak up, send them emails and copy your state's attorney general and governor. The first offer your lender gives you is usually not the best they can do, contrary to what you read in the media. Many of us have been in these toxic loans for 2 years or more and deserve to be placed in a more reasonable loan, do not be afraid to ask for a more reasonable modification! If I can help anyone with advise about Wilshire please respond to this thread and I will help in any way I can. Good luck to you all and again, thank you Loansafe and *** Damiano! We are so lucky to have people like you who care and are taking action to help people avoid foreclosure. | 
Connect with Facebook
Linear Mode
