FW: Inman PM: Double-dipping the loan-mod pool

 

 

Mark Daniel Adamczyk / Realtor
Office: 407-909-9331
Cell: 407-949-1916
Mark@ItsYourSale.com

 

http://www.ItsYourSale.com

 

From: Inman News Headlines [mailto:dailynews@inman.com]
Sent: Thursday, June 04, 2009 4:18 PM
To: mark@itsyoursale.com
Subject: Inman PM: Double-dipping the loan-mod pool

 

Are you using accurate, comprehensive data in your decision making? LPS Applied Analytics delivers the breadth and depth of real estate and loan-level data you need – when, where and how you need it. TODAY'S TOP STORIES = Premium Member News - Join Now » Thursday, June 04, 2009 Double-dipping the loan-mod pool Q: About a year ago, I obtained a loan modification from WaMu that dropped my interest rate about 1.25 points, turned my adjustable-rate mortgage into a fixed-rate loan, and reduced my monthly payment by about $100 per month. I would like to see if I can get the payment down even further under the stimulus plan. Is there any reason I can't go back and request a second modification? A: All loan modification agreements are different, so first things first -- read your entire agreement from the modification you got last year to see what, if anything, it says on the matter. It's rare for one loan modification to expressly prohibit another modification in print; what's not quite as rare is that some lenders have a company policy of allowing only one modification in a 12-month period of time. More » Post-it notes and the 'un-conference' Realtor Notebook Plain vanilla loans back above 5% Freddie: 30-year FRM averaging 5.29% this week Home insurance: ins and outs of coverage Readers recount experiences Tenant suspects manager of illegal entry Rent it Right OTHER TOP STORIES Downturn widens homeownership divide Ownership rate rises for some immigrant groups Fresh ideas from the Nest Real Estate Connect Speaker Profile: Jonathan Kauffmann Partial rent payments spell trouble Tenants milk landlord's goodwill for all its worth Property tax rates poised for increase? From Curbed.com blog Latest News » Use Twitter? Get real time updates on breaking news stories. Follow us @InmanNews	Inman News Webinar: Agent Toolbox 2.0: Next-Level Networking. Join Us  » NOTABLE QUOTE "The rest of the country has been in real estate recession for several years. We entered a meltdown here starting last September that has been relentless." --David Michonski MOST POPULAR Real estate fees raise RESPA controversy Appraising the new appraisal problem Secrets of a master negotiator
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