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Guest

Has anyone modified loan with Desert Schools Federal Credit Union?
If You have, please, let me know about your experience working with them.

jameshogg · Posted: Thu Nov 12, 2009 8:04 pm Post subject:

Hi katarina,

I do not have an experience working with them. Are you planning to get a loan from them? I would suggest you to research about them online and get to know whether or not the customers are satisfied with their services. You can also check out their BBB rating.

Do share your experience with us in the community. This will help others decide whether or not they should work with this company.

Thanks

Guest

As a member and going thru them for a loan modification during a chpter 13, not good i sent them my paper work in April and just now they are calling me and they did not try and contact me between then and now, so no i would not recommend them.

Posted: Thu Jan 07, 2010 3:58 pm Post subject: No

As a member who tried to modify with them since September and with them now trying to foreclose and I'm resorting to an attorney to file Chapter 13 - NOOOO - however, there is a light at the end of the tunnel - go to Take Charge America because although Desert Schools won't tell you, they are now working with them - somewhat - supposedly I'm going to get some news tomorrow - just don't know if it's good or bad.

Posted: Mon Feb 08, 2010 6:39 pm Post subject: I tried Take Action America

and desert schools said no. Guest how did you do maybe I will try again

Guest

It has been 3 months since I applied for loan modification with Desert Schools. I found out yesterday that it will be another month or two before they can get to my file. I am so disappointed. Why is this process so slow?

jameshogg · Posted: Thu Feb 11, 2010 12:49 am Post subject:

Hi Katarina,

A large number of people have applied for loan modification and that can be one of the reasons why your lender is taking so much time to clear your file. Nevertheless, you should keep on contacting your lender and ask him to speed up the process.

Thanks

Guest

My lender, Desert Schools, finaly called back after 4 months, letting me know that they want to put me in trial modification for 4 months, reducing my payment from 1,900 to 1,200. I have 30yr fixed rate (6.25%) loan, 26 years remaining. I want to know if interest rate reduction (under HAMP) was sufficient to come to 1, 200 payment, and if not, what is a new loan term. Desert Schools representative did not answer this question when I asked. How could i figure this out on my own? Could someone help me, please.

Guest

Oh, my current loan balance is 250,000.

adonis · Posted: Mon Mar 22, 2010 12:46 am Post subject:

Hi Katarina,

It is your lender who will be the best person to answer your query. The interest rate would be reduced in such a way by the lender, that you'll have to pay $1200 to the lender every month. As far as I know, the lender will give you documents related to loan modification which will include all the details.

Guest

Has anyone foreclosed with Desert Schools? We tried to short sell, but they wouldn't accept w/o us signing a huge promissary note (which we couldn't do). They changed the locks on the house, but nothing else has happened. We stopped paying our mortgage in November 09. I just want to be able to move on and start putting my life back together. How long will this take?

sara · Posted: Thu Apr 01, 2010 3:57 am Post subject:

Hi Guest,

As far as I know, the time taken to complete foreclosure may vary from one state to another. Normally it will take around 90-120 days to complete. Once the foreclosure sale is complete, your lender will give you a 3 days notice to leave the property. You'll have to leave the property within that time frame.

Take care.

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loan modification with Desert Schools Federal Credit Union