Comments on: Sub Prime Loan Modification

By: WPBlog Shop

WPBlog Shop — Thu, 22 Oct 2009 23:07:54 +0000

I hope it is a good job and you have a marketable degree. A degree is an investment not a right!

By: psychic

psychic — Wed, 21 Oct 2009 07:14:36 +0000

BTW, the most unbelievable part of all this– the USA is losing its most talented people to other countries, since its policies are tailored to enrich the already super-rich at the expense of the young, bright and ambitions working their way up, and the poor in general. AKA the definition of a banana republic.

The United States could quickly improve this miserable situation, just by passing the most basic reforms to correct these problems.

By: rails

rails — Wed, 21 Oct 2009 00:43:12 +0000

Dumb, predatory policies, like these student-loan lenders who use legalized usury to force students into serfdom–THIS is what is driving Americans out of the country for good these days. The brain drain to the Netherlands, China, Germany, Argentina, Panama, Chile- it’s off the charts. Not just student loans but health care (don’t have a baby in the USA, the crooks in the industry will bankrupt you). So the best Americans now do their business in Dutch, German, Spanish- cuz they’re overseas.

By: guzen

guzen — Tue, 20 Oct 2009 18:16:07 +0000

no quite that easy. Your name would be tarnished for a long time.

By: Blogger

Blogger — Tue, 20 Oct 2009 09:08:18 +0000

The government should help bail out our student loans and then we could spend that money on a house, car, the economy. But instead they rather bail out huge companies that got us into this mess, giving that money to CEOs and their huge bloated paychecks, so they can buy yet another yacht. Then they expect us to work for nickels and dimes to try to pay back our student loans. What a crooked country we live in, as students can’t even file for bankruptcy anymore, unlike these companies.

By: Cbat

Cbat — Tue, 20 Oct 2009 05:38:31 +0000

of course you can try loan modification is only the solution for your query first of all you have to contact your mortgage lender who guide you or you can find many online sources where you can get your solution you can try this source : http://www.refinancing101.net/loan-modification.html is exact match your query. I think you will get solution from here

By: Robert C

Robert C — Tue, 20 Oct 2009 05:25:51 +0000

I'll get straight to the point.
You asked how often do these actually materialize into something decent?
well, that depends.
here is how a loan mod works:

let's say your mortgage is 1000 per month.
and let's also say you are 6 months behind.
that means you are behind $6000. with me so far?

okay, the way a loan mod works is this:

countrywide will take that $6000 that you owe and divide it up over the next 6-12 months and ADD it to the mortgage you already have. so let's look at the most favorable example:

if they split it up over the next 12 months (which is all based on approval), that means your loan mod payment is $500. make sense? $6000 divided by 12 months is $500. okay?

here's the kicker: that's on TOP of your existing mortgage, because you still owe that.

so what will happen is you will end up paying your regular payment of $1000, PLUS the $500 for the next 12 months.
make sense?

a couple of statistics that may interest you:

89% of people who sign up for a loan mod never make their first payment. yep, you read that right. the reason is fairly obvious. if it was difficult to make your original payment, increasing that payment only makes it more difficult, doesn't it?

the reason a lender is willing to do it is for that 11% of people. you see, foreclosure is expensive for banks. it costs them on average more than $30,000 per house after you account for attorney fees, holding costs, taxes, insurance, etc. they want to avoid it and squeeze every bit of money out of you before they do so.

hope this helps. if you have any questions, email me.

oh, by the way, you can check this out to see what other options you have:

squidoo.com/youstopforeclosurenow

By: Free Blog

Free Blog — Tue, 20 Oct 2009 01:38:21 +0000

I dropped out of college because I realized it wasn’t worth the money. The work was easy in my engineering classes, but the amount of time and money I would have spent on college would not have sense financially. I am a cnc machinist now and doing fine. I never considered taking out a student loan because I understood the math.

By: nacao

nacao — Mon, 19 Oct 2009 22:49:05 +0000

or, do they just want to collapse the system and bring about reform to shape an agenda? BTW I’m an independent voter.

By: Wordpress

Wordpress — Mon, 19 Oct 2009 16:38:40 +0000

See. The BRIGHT ones don’t need school. School needs non-goal reaching kids to prey on nowadays. Doing the math TRULY will SAVE you.