Comments on: Loan Modification Application-How to Get your Application to the Front of the Line http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/ The Complete Loan Modification Guide Fri, 10 Feb 2012 14:43:42 +0000 hourly 1 http://wordpress.org/?v=3.0 By: admin http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-2319 admin Wed, 02 Jun 2010 21:28:35 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-2319 Frustrated trying to get approved for an Aurora loan modification? It can be very confusing and frustrating trying to figure out just what the lender needs to see from you in order to give you the loan workout you need. Here's what you need to know-there is a FORMULA that lenders use to determine which homeowners qualify and which ones don't - it's not a big secret or mystery. HAMP is the federal loan modification plan that Aurora uses to offer qualified borrowers rates as low as 2% and low, affordable mortgage payments. HAMP has standard guidelines for approval and uses a 4 step formula. You can learn and use this very same formula to help you prepare your loan modification application correctly. Think about it-what makes more sense-just throw your paperwork together and hope that it works or use the very same formula the bank will use to structure your financial statement correctly? If this information is available to you why not use it? There is actually a software program designed specifically to help homeowners prepare their own application correctly and make certain that they fit into the HAMP guidelines-that makes a whole lot more sense than just guessing. Before you submit your Aurora loan modification, visit www.myloanmodificationcenter.com to learn more and find out more about the software program to help you avoid mistakes and increase your chances of approval. Frustrated trying to get approved for an Aurora loan modification? It can be very confusing and frustrating trying to figure out just what the lender needs to see from you in order to give you the loan workout you need. Here’s what you need to know-there is a FORMULA that lenders use to determine which homeowners qualify and which ones don’t – it’s not a big secret or mystery.
HAMP is the federal loan modification plan that Aurora uses to offer qualified borrowers rates as low as 2% and low, affordable mortgage payments. HAMP has standard guidelines for approval and uses a 4 step formula. You can learn and use this very same formula to help you prepare your loan modification application correctly.
Think about it-what makes more sense-just throw your paperwork together and hope that it works or use the very same formula the bank will use to structure your financial statement correctly?
If this information is available to you why not use it? There is actually a software program designed specifically to help homeowners prepare their own application correctly and make certain that they fit into the HAMP guidelines-that makes a whole lot more sense than just guessing.
Before you submit your Aurora loan modification, visit http://www.myloanmodificationcenter.com to learn more and find out more about the software program to help you avoid mistakes and increase your chances of approval.

]]> By: Natalie http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-2311 Natalie Tue, 01 Jun 2010 01:02:28 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-2311 Hello, We have applied the third time for a loan mod with Aurora ( the first time they denied and said we make more money than needed to qualify, the second time they approved us for trial period. On the fifth month they asked us to send them tax return and proof of rental income. We did fax it to them, they said they never got it and pushed as from loan mod. We applied the third time just recently. Our income( including rental properties) is around $15000 expences like $500 more. They approved us for another trial period for $2700.m. We used to have an ARM loan with min payment of $3300. Aurora rep told me that we might need to show more income at the end of trial period so they can modify us. Our loan amount is $960K, the property is worth around $800K. We have a private investor on the note. What are our options? Do you have any suggestions. We would like to have some guidelines/ help us to modify loan. We invested a lot of money into the property. Thank you Hello,
We have applied the third time for a loan mod with Aurora ( the first time they denied and said we make more money than needed to qualify, the second time they approved us for trial period. On the fifth month they asked us to send them tax return and proof of rental income. We did fax it to them, they said they never got it and pushed as from loan mod. We applied the third time just recently. Our income( including rental properties) is around $15000 expences like $500 more. They approved us for another trial period for $2700.m. We used to have an ARM loan with min payment of $3300. Aurora rep told me that we might need to show more income at the end of trial period so they can modify us. Our loan amount is $960K, the property is worth around $800K. We have a private investor on the note. What are our options? Do you have any suggestions. We would like to have some guidelines/ help us to modify loan. We invested a lot of money into the property.
Thank you

]]> By: John Wright http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-2175 John Wright Sun, 09 May 2010 04:28:16 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-2175 WELL I HAVE HAD ENOUGH AND I AM FIGHTING BACK! John Wright Vs. Bank of America Please join my fight or show your support through your comments at www.unitedlawgroup.com Divided we might have fell America. UNITED WE MUST STAND! Sincerely, johns-wright@hotmail.com WELL I HAVE HAD ENOUGH AND I AM FIGHTING BACK!

John Wright Vs. Bank of America

Please join my fight or show your support through your comments at http://www.unitedlawgroup.com

Divided we might have fell America. UNITED WE MUST STAND!

Sincerely,
johns-wright@hotmail.com

]]> By: admin http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-2105 admin Mon, 19 Apr 2010 14:36:43 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-2105 Your loan does not have to be owned by Fannie Mae or Freddie Mac in order to qualify for HAMP- only for the refinance plan which is called HARP. It sounds like you do have a legitimate financial hardship situation and need a loan modification, my concern is that with the amount of home equity you state you have it will be difficult to qualify for a HAMP loan modification. One of the first criteria Aurora will look at is called Net Price Value-this means they determine which option will cost them less-modify or foreclose. If you have a lot of equity, then obviously they could foreclose and not lose money on the transaction. The Fed has mandated that lenders do which ever option costs less for the bank, so that makes it difficult for homeowners sitting on equity to get a HAMP option. Aurora my offer you some type of loan modification though-if you demonstrate to them that your situation is indeed a financial hardship-they have in house or proprietary loan workout plans that can be custom tailored for each situation-those are not subsidized by the government and so do not have the same criteria. You should definitely keep pursuing this-so keep calling them every few days and don't give up until you get some kind of Aurora loan modification. Good luck to you! Your loan does not have to be owned by Fannie Mae or Freddie Mac in order to qualify for HAMP- only for the refinance plan which is called HARP. It sounds like you do have a legitimate financial hardship situation and need a loan modification, my concern is that with the amount of home equity you state you have it will be difficult to qualify for a HAMP loan modification.
One of the first criteria Aurora will look at is called Net Price Value-this means they determine which option will cost them less-modify or foreclose. If you have a lot of equity, then obviously they could foreclose and not lose money on the transaction. The Fed has mandated that lenders do which ever option costs less for the bank, so that makes it difficult for homeowners sitting on equity to get a HAMP option.
Aurora my offer you some type of loan modification though-if you demonstrate to them that your situation is indeed a financial hardship-they have in house or proprietary loan workout plans that can be custom tailored for each situation-those are not subsidized by the government and so do not have the same criteria.
You should definitely keep pursuing this-so keep calling them every few days and don’t give up until you get some kind of Aurora loan modification. Good luck to you!

]]> By: Greg Morton http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-2104 Greg Morton Mon, 19 Apr 2010 12:58:29 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-2104 I was hurt at work now on SSD and Disability Pension with roommate (rent). My total income is $4636.00. Total monthly expanses are $4459.00. (+$177.00). Aurora Loan Services is my servicer. I've lived in my home 36 years. Not Fannie or Freddie. Investor backed. Owe $280,000 on 1st ($74,000 on HELOC 2nd). Current value: $900,000. I need to stay in my home. Aurora said that I was approved for a mod (without impounds which I had requested and need) but Aurora never sent the paperwork. But then Auruoa sent me letter stating I may qualify for HAMP. So, suposedly I had a mod but was never sent anything then I was sent HAMP request.??? I have sent all current requested docs.(proof of income, expense sheet, Fed tax returns, Hardship letter, for the HAMP. Do have have a chance for the HAMP with my amount of equity and being non Fannie/Freddie and investor backed? Thank you, Greg Morton I was hurt at work now on SSD and Disability Pension with roommate (rent).
My total income is $4636.00. Total monthly expanses are $4459.00. (+$177.00). Aurora Loan Services is my servicer. I’ve lived in my home 36 years. Not Fannie or Freddie. Investor backed. Owe $280,000 on 1st ($74,000 on HELOC 2nd). Current value: $900,000. I need to stay in my home. Aurora said that I was approved for a mod (without impounds which I had requested and need) but Aurora never sent the paperwork. But then Auruoa sent me letter stating I may qualify for HAMP. So, suposedly I had a mod but was never sent anything then I was sent HAMP request.??? I have sent all current requested docs.(proof of income, expense sheet, Fed tax returns, Hardship letter, for the HAMP. Do have have a chance for the HAMP with my amount of equity and being non Fannie/Freddie and investor backed?
Thank you, Greg Morton

]]> By: Wells Fargo Loan MOdification-3 Simple Steps to Succeed | Loan Modification Central http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-1183 Wells Fargo Loan MOdification-3 Simple Steps to Succeed | Loan Modification Central Thu, 17 Sep 2009 18:28:28 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-1183 [...] mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete [...] [...] mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete [...]

]]> By: Countrywide Loan Modification-Beware!Ready before you Apply! | Loan Modification Central http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-854 Countrywide Loan Modification-Beware!Ready before you Apply! | Loan Modification Central Sat, 18 Apr 2009 17:53:57 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-854 [...] have the best chance of approval, make sure you take one hour of your time before you send in your loan modification application to get prepared.  Once you give Countrywide your application and your financial information, it [...] [...] have the best chance of approval, make sure you take one hour of your time before you send in your loan modification application to get prepared.  Once you give Countrywide your application and your financial information, it [...]

]]> By: Wells Fargo Loan Modification-Beware-Don't apply until you read this! | Loan Modification Central http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-853 Wells Fargo Loan Modification-Beware-Don't apply until you read this! | Loan Modification Central Sat, 18 Apr 2009 17:15:49 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-853 [...] bank the wrong information you may hurt your chance for approval.  Knowing how to complete your loan modification application correctly and being prepared ahead of time is the secret to getting [...] [...] bank the wrong information you may hurt your chance for approval.  Knowing how to complete your loan modification application correctly and being prepared ahead of time is the secret to getting [...]

]]> By: crystal http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-830 crystal Fri, 10 Apr 2009 15:47:00 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-830 why would a lender want a 4506t when trying to do a loan modification? why would a lender want a 4506t when trying to do a loan modification?

]]> By: Loan Modification Help | Loan Modification Central http://myloanmodificationcenter.com/blog/loan-modification-application-how-to-get-your-application-to-the-front-of-the-line/#comment-820 Loan Modification Help | Loan Modification Central Tue, 07 Apr 2009 18:25:46 +0000 http://myloanmodificationcenter.com/blog/?p=89#comment-820 [...] knowledge about what is required to qualify.  If you know ahead of time how to prepare your loan modification application, you will be able to have a much better chance of approval.  Now, you do not have to be an expert [...] [...] knowledge about what is required to qualify.  If you know ahead of time how to prepare your loan modification application, you will be able to have a much better chance of approval.  Now, you do not have to be an expert [...]

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