Question: For Countrywide loan modifications what does it take to get approved?
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Question: What do I have to do to get approved for a loan modification with Countrywide, now WAMU?
Answer: To apply for a Countrywide loan modification you will need to complete a Request for Loan Modification package.
As with any type of paperwork you have to fill out, there is strategy to completing the package to stand the highest chance of getting approved.
The loan modification documents are provided by Countrywide. You can complete the package on your own or you can hire a loan modification company or lawyer. However, do your due diligence to avoid scammers.
Many homeowners are having great results with the help of a book I recommend to complete the loan modification package themselves Click here to check it out if you want
Challenges you may face when submitting your loan modification request
When you contact Countrywide, you may initially be directed to the collection department. This department will not help you with a workout agreement. They will just try and collect on the past due payments. You want to contact the Loss Mitigation Department that processes loan modification requests. Don’t let them redirect you to another department or retention option.
Countrywide calls their loss mitigation department the Countrywide Hope Department. The contact number is 800-222-9944.
If the lender gives you grief use three little words to fight foreclosure
If you are getting frustrated in dealing with your mortgage company or their servicing company and you need to buy some more time if the NOD has been filed, there is a little known method an attorney has shared with the public that delays the foreclosure proceedings.
It involves using three little words, namely, “produce the note,” to your lender or servicer. Asking them to “produce the note,” requires the lender to prove it has the actual authority to foreclose, by requiring it to officially produce the original promissory note in the lawsuit.
If you live in a “nonjudicial foreclosure” state, such as California, Texas, or the thirty or more other states with similar procedures, you can still use this strategy. The homeowner has to file a lawsuit against the party trying to foreclose.
| For more details on this strategy watch the video below | |
Before completing and sending in a loan modification request package, you may want to obtain some coaching on how to submit your package to have the highest chance of getting approved You can check out the website for the DIY loan modification kit here
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