Loan Modifications in 2020 -- What Happens After Forbearance

[loanmodlawyererin]

Hey all,

I've been talking to a bunch of friends on the bank side (that's how I started out - was in-house at a bank everyone has heard of, missed being outside counsel, and worked my way down the ladder to a foreclosure mill so I could learn the industry from top to bottom), and my prediction is that we are going to see a TON of loan modifications in 2020 and 2021. This is because forbearances being offered do not always reamortize, which means that a homeowner can easily be stuck, after a forbearance obtained in April 2020, with an amount due and owing in July 2020 of (April + May + June + July). The logical next step when a homeowner can't pay after their forbearance ends is a loan modification. I'm curious to hear about other people's experiences to date with forbearance and mortgage lenders and servicers.

We are reducing our fees for loan modification help for the remainder of 2020, as the reason I switched sides in the first place was to help homeowners (aka use my powers for good instead of evil).

What are your experiences so far? What kind of assistance would be the most valuable to you?

Erin Wietecha

www.wietechalaw.com/loss-mitigation

[newtonharvill]

Thank you. Interesting information. I don't have enough money now. Before, I didn't know how to suddenly increase my income, but I need more money in emergency. An emergency loan is one solution that can keep you out of trouble. I took the opportunity to get fast qualified help with the help of Personal Money Service. They helped me to make up for the short-term loss of funds. I got the best lending solution. I have submitted a quick loan application form.

[RCG]

I'm trying to learn more about commercial loan modifications. It appears this forum is dated. Anyone know where I can find more current forums on the topic?

Renee Gonzalez

mortgagerail.com/commercial-loan-workout

[guadalupe123]

Where can I find some updates on this info?

[labrandot]

I personally haven't had to deal with a forbearance yet, but I have heard some horror stories from friends and family. As for assistance, I think the most valuable thing for me would be clear and concise information on the different options available for loan modifications. It can be overwhelming and confusing to navigate through all the terms and conditions. By the way, I recently had a great experience with a Mortgage Broker in Warrington who helped me find an amazing offer and rates. They were really knowledgeable and made the whole process much easier for me. I think having a reliable and trustworthy broker can make a huge difference in getting the best deal possible.