Saxon, Citi Mortgage, Home Equity, WAMU Agreeable to Modifying Loans…

Everyone wants to know what lenders are open to modifying loans. Well as of late, we have taken on clients who tried to modify their own loan with Saxon, Home Equity, and Citi Mortgage to name a few. Unfortunately, the homeowners worked with the lenders for months but were only able to get their payment improved by a few dollars. Obviously that wasn’t going to work because these homeowners were under true financial duress.

Everyone knows a loan modification company cannot make promises since the mortgage lenders ultimately decide if they are going to modify the loan. However, we have been doing this a fairly long time and we have developed special relationships with all of the mortgage lenders, including Citi, HomeEq and Saxon.

Well this past week we were able to successfully modify loans with all of the above lenders. HomeEq (Home Equity Servicing) agreed to reduce a rate to 3% from 8.5% while Saxon cut another customers payment from $5,000 to $2200. It seems lately, our files with Saxon, Citi Mortgage and Home Equity are having a lot of success. Washington Mutual also reduced one of our client’s payments by 30% this week from what the homeowner was previously paying. We work with all of the lenders and if you know a lender, chances are we have worked with them. The larger lenders like Chase, Bank of America/Countrywide, Wells Fargo, HSBC, and WaMu are well known larger lenders but there are plenty of smaller lenders that are modifying right now (including credit unions).

If you have tried to do your own loan modification and you have a loan specifically with Citi Mortgage, Home Equity, Saxon, or Washington Mutual, we can help. The process still can take 90 days, sometimes more, sometimes less, but we have made great strides getting a lot of these mortgage lenders to finally see the light and agree to work with us to modify their customers’ loans. I mention these lenders specifically because it seems a lot of the people coming to us tried to do their own modification with these lenders had no success but we were able to get it done and our customers were happy.

Some people are still hesitant to go through a loan modification company and we understand due to the scams out there but if you have questions, just go to our website: www.LoanModificationFoundation.com and visit our blog to get your questions answered. If you still feel like you are lost and want to go through someone else to get your loan modified, we can help. Keep in mind; we are the only company that does not charge up front until your lender agrees to modify your loan. Regardless, please visit our site as a resource to get your questions answered because we don’t want homeowners to modify their loan on their own without knowing what to do. Lenders can be very difficult and slow moving so you need to be prepared on how to best modify your loan.