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chichimad · Joined: 04 Mar 2009 Posts: 1 1.81 Dollars($)

Hi: I have just joined this group. This is the first time I have ever done anything like this; so please bear with me. I read somewhere in this forum that they received a "Modification" by speaking directly with Countrywide. I have called Countrywide 3 times and have told them of my situation and was told that they could not help me. I would rather work with Counrywide on my own. Going to a lawyer to do the modification is not cheap and if I am having financial problems, paying the lawyer will set me further back.

So, I suppose my question is: Should I continue to call Countrywide in the hopes that they will eventually work with me, or am I much better off paying a lawyer the sum of at least $1,500>

Thank you.

Chichi in Orlando, FL

jameshogg · Posted: Wed Mar 04, 2009 8:57 pm Post subject:

Hi chichimad,

You have mentioned that Countrywide has rejected your request for loan modification. Did they give you any reason for that? As far as I know, if you are current on your mortgage payments, you will not be getting the option of loan modification.

It is not necessary to take the help of a lawyer in order to negotiate with the lender for a loan modification. If you are confident enough, you can yourself deal with the lender.

Thanks

evolovik26 · Posted: Wed Mar 04, 2009 10:26 pm Post subject:

The new program that is coming out might help you out.
What are you trying to do?

Guest

I am in the middle of review right now and hope they will renegotiate my loan. I know that if your not delinquent they won't help you! I bought in 2007 and have a 5.5% fixed. Property value has dropped 50% and I lost my income. We are living on my Husbands income so we are facing a financial difficulty. I don't qualify for teh HASP program. I'm waiting to hear back from them and it is killing me.

savior70 · Posted: Sat Apr 11, 2009 5:24 am Post subject:

Hi

Are you current on the paymets? It's true that they don't show interest in doing a modification if you are curret on the loan. But if you can convince them that even though you are making the payments, you may fail to do so in the months to come due to a financial difficulty, it is expected they will consider your modification request seriously. A hardship letter often comes in handy in such a situation. Have you send them one?

gmakerley · Posted: Sat Apr 11, 2009 9:07 am Post subject:

realtor2007, have patience...my 3 year old son tells me that patience is very important, and i believe him.

truly, the lenders are swamped with people seeking forbearance, modification, etc. and although i'm sure this is causing you much angst, wait it out. they'll get to you...hopefully sooner than later and with good news.

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