Re: Help!!! loan modification docs

Posted by NJD on August 23, 2008 at 07:44:53:

In Reply to: Re: Help!!! loan modification docs posted by Paul on August 23, 2008 at 07:10:19:

Not all loans, in fact, not too many loans will be eligible for such writedowns. There are conditions which require participants pledge future equity in the property to the FHA, or to junior lienholders who are asked to release their security interest to facilitate a bailout refi.

Many exotic loans are in portfolios being sold at 'firesale' prices to investors/speculators who are not interested in modifications or other workouts.... and want to simply foreclose, evict, and resell.

It isn't in the interest of readers to paint posted answers with such a broad brush.

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