My mother is applying for a home modification loan and it looks like she’ll be approved, if she is approved will this affect how much financial aid i receive?

I’m attempting to do so in order to reduce my monthly on my home but Wachovia has been less than helpful in this. They keep pushing back the date when they will allow homeowners to go thru with the process citing that they are still updating and preparing themselves for the process. Also, what happens if the loan modification is denied? Will I continue paying the same rates as normal? No penalties or hazards of any kind? Thank you.

We have never been behind on our mortgage payments and the credit score is good (over 780). Our current loan (5 years fixed interest only) has just expired, and my lender bank has offered us a loan modification (same fixed rate for another 5 years). I have never asked them, they just sent me the LM offer by mail.

Is it true that if I accept this offer it will negatively affect my credit score?

we have our mortgage in Illinois with Wells Fargo. We can no longer make the mortgage payment and called Wells Fargo who is mailing a loan modification pkg. to us. Meantime, we will not be able to make the payment. We do not want to face foreclosure. Will Wells Fargo begin foreclosure if we are making a concerted effort to get a loan modification with them? This is very troublesome to us. we want Wells Fargo to work with us, but what happens if they refuse us? Do we have other options or will they offer other options to us? Please help.

home loan modification vs mortgage refinancing, are they the same thing?

I applied the loan mod under home affordability plan in May 09. I was told my application has been disqualified from under affordability plan and then transferred to conventional loan mod plan. I have loan from Bank of America, backed by Freddy Mac. What’s the difference?

I heard on NPR that mortgage brokers who made a lot of money during the housing boom are now making a lot of money doing loan modifications. How is loan modification lucrative? How do people get paid to do loan modifications?

I have lost my job and am now working as a cashier at a grocery store. The problem is that my new salary is not enough to cover the mortgage. I am in a very tight situation so I am curious to know my options. I have heard that applying for a mortgage loan modification can help reduce my monthly payments. Has anyone had experience with mortgage loan modification please let me know what are the steps to to lowering my mortgage payments.

Has anyone here already done a loan modification and what were your results, meaning how much $ did your bank lower out of your previous mortgage? I’m trying to get one done now but the bank only wants to reduce the mortgage payment by $100 which is meaningless in our situation. Thank you in advance for your input.

We are a financial company looking for someone who can be an affiliate with loan modification. We have a great processor, but we need someone who can do the leg work, get the paperwork, etc. We can work out a deal. Does anyone know of companies that do this or are there any individuals we can work something out with? Thank you!