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Portland Short Sale Condo

Portland Short Sale Condo

Portland Condo -  Short Sale

 

 

Thanks for doing that and filling neighbors in on Aiicias purchase. Happy moving Alicia. Ruth Ann

Sent via BlackBerry from T-Mobile
From: Oscar Morante <info@arecllc.com>
Date: Fri, 08 Apr 2011 16:35:16 -0700
To: alicia Reed<aliciaann80@gmail.com>
Cc: <ruthanns@johnlscott.com>
Subject: Comus Place Key
Ruth & Alicia,

Yesterday I removed the last of Mishelle's belongings out of the unit.  There I left my remaining key under the mat in right in front of the door.  I wish you well in your new home.  You will soon meet Troy, Melisa and Matt and Scott and Andrea.  They are your neighbors towards the parking side of the building.  I talked to them yesterday.  Good people.

Oscar

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Posted in Bankruptcy, Stop Foreclosure | No Comments | Leave Comment

 
 
Acceptable and Un-Acceptable Hardships for Loan Modifications

Acceptable and Un-Acceptable Hardships for Loan Modifications

Bankers actually have a heart!

When it comes to loan modification and short sales, a reasonable hardship is hugely important. Bankers need to know that the person requesting a loan modification or a short sale has a good reason for it, and deserves the opportunity. This hardship is explained through a hardship letter and / or a hardship affidavit.

These are the keys for an effective hardship letter:
 

  • Tell the truth
  • Include all the reasons why right now it is not possible to keep up with the payment. Some reasons may have an origin dating even years ago.
  • Always demonstrate all the effort that is being made to continue paying.
  • Mention how important it is for you, as a homeowner, to fulfill your obligation to the bank.
  • Clearly request help from the creditor so the situation can be corrected.
  • Never mention that there higher priorities than paying the bank.
  • Demonstrate that you are a very reasonable and responsible person worth getting a loan modification for.

     

    Acceptable Hardships:

  • ARM’S – Adjustable rate mortgages already, or about to become un-affordable.
  • Illness of borrower of family member
  • Decrease but not loss of income
  • Job loss of one of the borrowers. The other one still brings income. Unemployment is not considered an income source
  • Important needed property repairs
  • Inability to sell or rent property
  • Mortgage servicing issues
  • Failed business situation as long as there is still income
  • Death of borrower, spouse, or close family member
  • Divorce
  • Marital separation
  • Natural disaster causing damage to property

     

    Un-Acceptable Hardships

  • Property has lost value but all else is fine
  • Borrower needs money to pay for children’s education
  • Borrower needs money to pay for other debt (credit card, car loan, etc)
  • Rental property is not cash flowing enough
  • Borrower’s bad attitude towards the bank reflected in hardship letter

We offer mortgage loan modification services. Call us today for help with your home loan modification 866-724-4292

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Posted in Bankruptcy, Loan Modifications, Mortgage Modifications | No Comments | Leave Comment