Any homeowners here?

[mannyb18b]

The fact that you don't have to cash out doesn't change the fact that you don't understand what the effect of cashing out is for those who do:

woooow good job I didn't say it's rolled into the loan, +1 for you.

 

[mannyb18b]

so who else wants to get pwned.

 

[bonesninja 5,000+ posts]

so tell me what happens when someone applys for this thru you

 

[bonesninja 5,000+ posts]

so who else wants to get pwned.

who exactly have you "pwned" so far?

 

[mannyb18b]

so tell me what happens when someone applys for this thru you

we get:

Hardship letter

borrower financial statement

borrower income and asset table

borrower liabilities and expense table

load mod authorization and rlease form

borrower information affidavid

borrowers certification and authorization

third party authorization form

service afreement

fee agreement

method of payment

mortgage payment priority declaration

final signature of authorization

disclosure statement

once all this is collected by me, I send it to a medigation company which is basically a lawyer. I get about $1500 dollars once it's completed. and thats about it.

the medigation comp. handles the negotiations with the lender for the borrower

 

[squeak9798 5,000+ posts]

A short-refi is for a borrower who is upside in their home, and showing risks of foreclosure. Medigation negotiates with the lender to drop principle balance down to market value, and make monthly payments as affordable as possible again..even if the borrower has a few months in lates, as long as a SALE NOTICE is not issued they can qualify for a loan modification (short refi).

The customer could do all of the steps (reduction of principle, loan modification, etc) with their current lender as a part of loss mitigation and not get stuck with the ridiculous 50yr mortgage nor pay additional fees. No matter which way you slice it, the idea of a 50yr mortgage is ludicrous....especially when most lenders are willing to work with customers via loss mitigation to modify the terms of the loan to something the customer can afford, if they can truly afford the property in the first place.

This benifits them because they don't lose there home, and little johnny gets to stay in the same school

See above: Other loss mitigation avenues exist.

Second, if someone's home does get foreclosed on there is a good possibility little johnny can stay in the same school. The McKinney Act, for example, has certain guarantees for displaced children.

 

[chunky cumz 10+ year member]

very intelligent statement right there....

Need i say more you scum ******* bastard. you make tons of money off people already in trouble, the way you justify it in your mind is that after i do this i will never see them ever again nor will you here the aftermath story.

I didnt have a probelm with you until i found out what you do.

what company do you work under again?

 

[mannyb18b]

squeak, how many times do I have to point out to you how stupid you are for CONSTANTLY bringing up the 50yr term thing? You can't be THAT stupid can you? like i said before, that is a POSSIBILITY for someone if thats what it takes to reduce monthly payments to something affordable....so like 5-10% of people MAYBE.

I like how you feel the need to stick to one single statement to try to make your statements sound better/ real.

Again...you FAIL>

 

[squeak9798 5,000+ posts]

I just made a brief explanation of it god ****...is it so hard to understand? You know how many loan modifications and short refi's are going through RIGHT NOW, especially in California.
Here is a quick sum up...AGAIN!!!

You owe more on your home than its worth. Maybe your in a ARM that is about to adjust or already adjusted and you ahvent been able to make your payments..and you are about to foreclose.

You write a hardship letter (1 of the steps to get this done), explaining why you can't make (x) payment. The banks don;t want all there notes to foreclose anymore, THATS WHY THEY ARE OUT OF BUISNESS. So we or you or watever company u wanna use negotiates with the lender to drop principle down to market and some other guidelines that apply to specific scenario's. They do this because instead of foreclosing the home and getting 20cents to there dollar they get 60cents to the dollar. Understand??

Wait....so now you're not actually refinancing anything, you're just charging the customer for your company to negotiate with the lender, which is something the customer could do themselves for free ??

How, again, is your company charging the customer, who is already in financial crisis, a benefit to them when they could do it for free themselves?

 

[mannyb18b]

Need i say more you scum ******* bastard. you make tons of money off people already in trouble, the way you justify it in your mind is that after i do this i will never see them ever again nor will you here the aftermath story. I didnt have a probelm with you until i found out what you do.

what company do you work under again?

I keep in contact with almost ALL of my borrowers, and I have kept in contact with people ihave completed loan mods for. No complaints....and no need for a complaint...nothing bad is going on...only good...why cant you understand that? Where am I putting them in a shitty situation?

 

[mannyb18b]

Wait....so now you're not actually refinancing anything, you're just charging the customer for your company to negotiate with the lender, which is something the customer could do themselves for free ??
How, again, is your company charging the customer, who is already in financial crisis, a benefit to them when they could do it for free themselves?

We are currently talking about LOAN MODS (SHORT REFI), YOU CANT FUUUCKING REFINANCE SOMETHING THAT YOU OWE MORE ON THAN ITS WORTH YOU STUPID RETARDED INBREED

 

[mannyb18b]

Wait....so now you're not actually refinancing anything, you're just charging the customer for your company to negotiate with the lender, which is something the customer could do themselves for free ??
How, again, is your company charging the customer, who is already in financial crisis, a benefit to them when they could do it for free themselves?

can u fuucking read? I'm not saying shit over and over agian for you retards. Again...Squeak, just shut up or READ what I have already covered.

 

[chunky cumz 10+ year member]

I keep in contact with almost ALL of my borrowers, and I have kept in contact with people ihave completed loan mods for. No complaints....and no need for a complaint...nothing bad is going on...only good...why cant you understand that? Where am I putting them in a shitty situation?

What company dipshit.

 

[squeak9798 5,000+ posts]

squeak, how many times do I have to point out to you how stupid you are for CONSTANTLY bringing up the 50yr term thing?

Gee, I don't know. Maybe that's because THAT'S WHAT WE WERE DISCUSSING AT THE TIME, AND YOU KEPT FAILING AT "EXPLAINING" HOW THIS WAS A BENEFIT TO THE CUSTOMER.

YOU used it as an example of the wonderful things you can do for the customer and how you can benefit them. I was pointing out how big of a ****tard you were, and how little you actually understood.

like i said before, that is a POSSIBILITY for someone if thats what it takes to reduce monthly payments to something affordable....so like 5-10% of people MAYBE.
I like how you feel the need to stick to one single statement to try to make your statements sound better/ real.

Or how I took the time to explain how your statements about that product were anything but true? Or how I easily pointed out how you much you fail to understand in the industry or the repercussions of the products you're ?

Again...you FAIL>

And the funny thing is you have to resort to this type of rhetoric, because you've realized how much of an idiot you've made yourself appear and can no longer defend your statements.

 

[mannyb18b]

What company dipshit.

I ALREADY MENTIONED IT ALONG WITH OTHER INFORMATION CONCERNING WHO I WORK FOR CURRENTLY AND WHO I AM GOING TO BE WORKING FOR IN THE FUTURE... DIPSHIT...READ!!!!!