Does anyone know anyting about the loan modification do it yourself web site? I was reading about one (www.lmksoftware.com) that a Marrietta couple had used. But you never know if it is for advertising or for real. I am looking to reduce my interest rate very low without adding money onto my loan. Any help or suggestions will be helpful. Thanks in advance.
My husband and i been trying to lower our mortgage for months now but we keep getting the run around from our mortgage company so we are about to try something called NACA. If this is something you want to look up you can read about it at www.naca.com
A mortgage is a contract. It cannot be unilaterally modified. Contact your lender to see what you are eligible to do. The cost is oftem minimal and can sometimes be included in the modification. You are likely to have to pay for a new appraisal. Values have gone down to the point that you may not qualify for the same amount without having to add ppi which raises your payment signficantly. Stay away from websites where you give them all your identifing information to modify a loan they have no authority to modify.
Have you tried NACA? www.naca.com or org
Hello P.,
I don't know if that website is valid or not, unfortunately I have to say that I probably is NOT. I am in the same situation that you are (SAHM trying to help out)
That being said, I just want to add to the comment that I have been working with my lender (Citi Mortage) for many, many months trying to get our loan modified and I feel sort of like a cat chasing her tail! one run around after another. They want you to let your loan go past due and even into forclosure before that will offer any help and after that it still can take up to 6 months. It's a tough gamble.
I really hope that you guys get the help that you need. I know that this is crazy, but I enrolled in Grad school so that I could use my tuition refunds as a supplemental income. (This is just how tough things have gotten...)
Best Wishes,
Christina
