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liaparalegal · Joined: 04 Nov 2009 Posts: 1 1.32 Dollars($)

Has anyone been sucessful in obtaining a loan modification from Kinecta Federal Credit Union? How and who specifically did you work with? Because I am having major difficulties.

jameshogg · Posted: Wed Nov 04, 2009 7:49 pm Post subject:

Hi liaparalegal,

I do not have a personal experience with Kinecta Federal Credit Union. However, in order to get a loan modification, it is always better to negotiate with the lender yourself. If the credit union is your lender, make sure you negotiate with them so that they modify your loan. If you are unable to negotiate with your lender, then you can contact an attorney who may negotiate with your lender so that your loan is modified.

Thanks

Guest

have you had any luck - I'm about to start the process with Kinecta?

Posted: Wed Mar 17, 2010 8:20 pm Post subject: kinecta loan modification

Yes, after 13 months. They will only modify for a fixed term of 3 or 5 years. They will reduce your interest rate to 4.25 % for 3 to 5 years and extend the loan term out. They will not go any longer on a fixed term. After the term expires it is an adjustable mortgage with a cap rate.

Guest

last month they offered me 2.5 fixed for 5 years then it goes adjustable for 35 more years. 2 pt cap. This month it's a different program and haven't heard yet.

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Loan Modification from Kinecta Federal Credit Union