Posted on: 01st Sep, 2009 09:42 am
i have 2 loans with countrywide now bank of america; the first is about 144,000 at 11% with adj interest rate; the second is 36,000 at 13% fixed rate. not behind on mort payments but if loan adjusts again afraid wont be able to afford it. i have poor credit; score about 520.
spoke with lender and state they can't refinance or adjust my loan. if choose loan modification how do i know if company is credible and not a scam? what can they do that i could not?
spoke with lender and state they can't refinance or adjust my loan. if choose loan modification how do i know if company is credible and not a scam? what can they do that i could not?
If you are looking for a loan modification, you need to call up your bank and request forit
You do nto need a third party company to do this for you
You do nto need a third party company to do this for you
I agree with Sunny. If you're looking for a loan modification in order to save your property, you will have to contact your lender. You can write a hardship letter to the lender informing him about your financial crisis and check out if he agrees to your request.
tnsmith
you are paying very high interest rates. therefore do it fast. there is no point in paying such a high interest rate.
also try to improve your credit score.
you are paying very high interest rates. therefore do it fast. there is no point in paying such a high interest rate.
also try to improve your credit score.
YES, you need to immediately go for interest rate reduction. will you tell us reason of rejection? is it bad credit score or something else?
Don't recomment Choice Loan Consulting - I paid $3,500 nearly a year ago and nothing as of 9/10/2009. I understand one of the Managing Partners at Choice Loan of Chandler AZ is Jeff Harper - he was convicted of several felony counts and fraud on 8/20/2009 - convicted of stealing hundreds thousands of dollars and also fined $50,000 by the Arizona Corporate Commission. Something to consider before working with this company - not sure if your experience is different than mine with this company but I generally don't recommend dealing with convicted felons and white collar criminals if you're looking for a result you would be happy with. Cut and paste link below:
kjzz.org/news/arizona/archives/200906/ponzi
kjzz.org/news/arizona/archives/200906/ponzi
Good luck with yoru search