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Verified loan modification results

Verified loan modification

A retiring Chicago city employee had her home loan with CitiMortgage modified to 2 percent on a 40 year amortization and granted a two month payment holiday to rebuild reserves.  Her husband has social security and a small pension but She was facing a large drop in pay as her retirement date of June 30, 2009 was fast approaching.   She would be receiving a pension at only 40% of her prior pay and she didn’t have enough social security quarters to draw her own benefit.  They had never been late on their mortgage so making a case for not being able to afford it might look opportunistic.  I was very reluctant to take on this client because 31% of their future combined income was so low that I just couldn’t imagine CitiMortgage coming through for them so I advised that they try to sell the property while I made their plea for Making Home Affordable (MHA) with CitiMortgage. They had listed their home with a local realtor and weren’t able to get any bites even at what they owed so this was a scary situation all the way around.  I have only the highest regards for CitiMortgage loss mitigation department because they were willing to work on preventing a train wreck rather than watch idly by. This was a fairly aggressive loan mod application because our client maintained her perfect credit and headed off future problems by contacting us in advance of her drop in pay.  See www.illinoismortgagemods.com to read more typical results. 

A St. Charles residential contractor gave up on waiting for building to rebound and retired to a small carpentry pension and social security.  I prepared his Chapter 7 bankruptcy so that he could strip away all his other debt and try to hang onto his home.  I then submitted a mortgage modification request to Chase/EMC and they very generously modified his subprime loan into a prime loan and cut his payment by 50%.  There is now no question he will be able to afford the payments going forward and enjoy retirement as a homeowner.   

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Source: http://www.articlesbase.com/mortgage-articles/verified-loan-modification-results-1161362.html

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Where Can You Find BC Real Estate Foreclosures?

British Columbia, Canada, the hard times could bring in good news for those who have the entrepreneurial spirit in them. Now the economy is at its worst since decades, BC real estate foreclosures are at a rise and you would find houses of multi-million costs being sold for more than half of its original cost.

What’s great with it is that you aren’t limited in your options for a great home to buy . There are practically all sorts of houses that are a part of the BC real estate foreclosures list. Name it condos, bungalows, apartments, log homes, executive townhouses, cottages, water front houses, and what have you ; they’re all found in British Columbia, Canada. You may select the city where you want your perfect ideal home to be and you will find it.

Vancouver which is its capital city is the third biggest metropolitan area in Canada. That only means one thing that whatever property properties you’re going to buy in the area would double its price when better days are here again.

British Columbia particularly the Vancouver region is also a well-liked film feature spot next to L. and NY City. Lately it has shown a considerable boom in mining also.

Many people would rather choose British Columbia due to its great scenery and pristine beauty. This is one of the major reasons why people go for BC real estate foreclosures especially now that nicest homes are sold for very friendly prices. You will not need to be hot for Queen Victoria to grasp that there’s a different and refined culture out there in BC and everyone who’s ready for a good life can get a chance at it.

All you have to do once you have decided to take a position in BC real estate foreclosures is look for a bankruptcy barrister and perhaps you should start reading the rules involved as well or you can try for somebody you know well who works in a bank and is knowledgeable about property properties in BC. Whatever you decide to do, always seek for expert advice and this will make things easier for you.

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Source: http://www.articlesbase.com/real-estate-articles/where-can-you-find-bc-real-estate-foreclosures-1431663.html

Entrance of Mount Robson Provincial Park, British Columbia, Canada.
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