My mother died in April, leaving a home with a mortgage. I am her only child, and have been unable to pay her mortgage; it has gone unpaid for four months. I just received rights as Administrator of her estate, and will now be able to communicate with the mortgage company regarding the home. I do not want to lose the home or sell it now. I would like a loan modification, so I can rent it out, and sell it later when the market has improved. Do mortgage companies grant loan modifications under these circumstances?
I have been waiting for over 3 weeks for my lenders loss mitigation to get back to me and still haven’t received a call. I have been calling everyday to see if my case has been assigned to an agent. What are my options at this point?
I can’t figure out why the price of GOLD continues to go down while the Federal Reserve continues to keep interest rates at all time lows. With the Federal Reserve continuously lowering interest I do believe that inflation is right around the corner. Possibly massive inflation, the like of which has not been seen since the 1970’s.
Anyways can anyone explain?
What does a DTI ratio have to be when applying for a Loan Modification?
I am doing a report on loan modifications. It appears that everyone and their mother is now an expert on loan mod’s. Does anyone know the exact DTI ratio the banks look for when applying for a loan mod?
Now that we are paying our mortgage and on time will our credit score improve once our mortgage states “current” as opposed to “past due”?
Ocwen Financial Corporation is in Florida
How do I submit an accurate, acceptable and complete application to my bank for review and consideration of loan modification?
- I am a first time home buyer .
- excellent fico score ( 820+)
- 20-25% down payment
- home price is around $220K
- loan amount is around $165K
Any banks you could suggest who could give me lower interest rates around 4 to 4.2% with zero points ?
I was researched some articles about loss mitigation services. So far, it seems like a asset, but I’m still concerned about the third party company. Has anyone got scammed by this company or can anyone provide reliable information about it?
