Wednesday, February 3, 2010

Mad as hell? . . . You're Not Alone!


Are there many people in the Chico area needing loan modifications? If response to our LOAN MODIFICATION WORKSHOP is any indication the answer must be yes. In just a few days of promoting it we already have ten signed up. Here’s what they’re saying:

“thank you so much for doing this, it is sooo needed, we’ve been getting the run-around from our bank for months…we’re hoping this helps”.

“please put me down for FOUR…I’ve been telling all of my friends that are in the same situation about it”.

“thank you for offering it…we really need it”

People are frustrated, people are ANGRY! Good, honest, hard working people, especially those that have suffered a loss of income due to current economic factors are TRYING LIKE HELL to pay their bills each month and KEEP THEIR HOMES. Putting aside the fact that their homes are worth only 70%-50% of what they paid for them they are willing and wanting to hang on to their homes, but in many cases their monthly debt now exceeds their monthly income. They try to get the banks to work with them but the behemoth institutions either don’t want or aren’t equipped to help. Homeowners send in application after application only to have a different, confusing response to each attempt. Often the response to a loan modification request is to ask the borrower to INCREASE their monthly payment!…WHO WOULDN’T BE ANGRY?!

Our LOAN MODIFICATION WORKSHOP is NOT a silver bullet, and there’s a possibility that a loan mod. request may still be denied even after following the procedure recommended. But there’s a chance. The workshop will provide a framework, an outline of how best to proceed based on the Making Home Affordable guidelines, and we’ll provide a few extra suggestions to try to help make it work. Follow the link in the sidebar for more details on the workshop.

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