Denied Loan Modification Request

Posted by cliff on November 30, 2002 at 20:14:48:

I live in Ewa Beach, Hawaii, and my parent's property has already been granted motion, but not yet sold. I co-signed the property, and therefore, liable for the mortgage note payable. I wrote to American Savings Bank of Hawaii to request loan modification of no more than 6%. The attorney called to let me know that American Savings Bank had denied my request. I told the attorney that with 6% vice 7.375% it will make it alot easier financially since I also have a mortgage of my own which is at 9.5%.

When I asked why the lender denied, the attorned could not answer. Is anyone out there an expert of this subject matter?

Your assistance will be greatly appreciated.

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• If first you don't succeed (url) - Reinstatement Services, Inc. 15:14:05 12/01/02 (0)

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Comments:
: I live in Ewa Beach, Hawaii, and my parent's property has already been granted motion, but not yet sold.  I co-signed the property, and therefore, liable for the mortgage note payable.  I wrote to American Savings Bank of Hawaii to request loan modification of no more than 6%.  The attorney called to let me know that American Savings Bank had denied my request.  I told the attorney that with 6% vice 7.375% it will make it alot easier financially since I also have a mortgage of my own which is at 9.5%.

: When I asked why the lender denied, the attorned could not answer.  Is anyone out there an expert of this subject matter?

: Your assistance will be greatly appreciated.


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