Home Buying in San Diego>Question Details

JackieCol01, Home Owner in 34202

I am trying to do a loan modification with Residential Credit Solutions and it seems like its taking forever. Anyone ever deal with them?

Asked by JackieCol01, 34202 Wed Aug 14, 2013

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Hello, Jackie, I am so Sorry this is happening to you. If you have stopped making monthly mortgage payments due to income loss, maybe you can work out an forebearance agreement until income increases, or a loan mod with a principle and interest reduction, but the bank may not stop the foreclosure process so be prepared to contact an attorney for your options asap. If you do do not want to list with a FL Realtor and ask your bank to cooperate with a short sell, it may be best to contact a BK attorney to buy more time until your income increases or you may possibly negotiate a lease with certain lenders. Contact a local Realtor ASAP. Please proceed with extreme caution and work directly with your banks investor who is the only person or entity that is in a position of authority to make a decision on a loan mod which as mentioned below do occur, but rarely. Do not work with your loan service provider or anyone else that claims that you can obtain a loan mod.Get all agreements in writing. Check what the exact of your pre-foreclosure or foreclosure auction date statuses are on your property often. Expect an eviction notice eventually. After auction, Negotiate possession and cash for keys with the REO listing agent for the bank if the bank takes your property back at auction or the buyer. Hope this helps !! Move to sunny SO CA and Ill find you a rental home with compromised credit. maureen@landangel.com or 760 622 6855
Web Reference: http://www.coastal.biz
1 vote Thank Flag Link Wed Aug 14, 2013
No experience with them personally. ConsumerAffaris.com has 92 complaints about them. I put a link to the page in the Web Reference below. I am in no way affiliated with either company.

J.R. Thrasher
(619) 929-0105
1 vote Thank Flag Link Wed Aug 14, 2013
Hi Jackie,
can you please call me at 818-523-8928
im having same experience and ill be happy to hear what was your results.
please call me asap.
thank you
0 votes Thank Flag Link Thu Jun 19, 2014
I own my own Real State and Mortgage companies I only did A paper. I dealt directly with Banks. But, I have never heard of them. Your better going directly to your bank.
0 votes Thank Flag Link Thu Aug 15, 2013
I am in florida and I just started work with a hud agency
0 votes Thank Flag Link Thu Aug 15, 2013
Are you working with a real estate agent??? Sunheritage real estate and their team have alot of connections with various mortgage companies and banks so they know the ins and outs of the loan mod process and can really make a difference in your attempt.

You should call them if you get a chance and see what they can do. Their service/consultation is free

0 votes Thank Flag Link Thu Aug 15, 2013
It's important to note that with a loan modification, it will be viewed by most lending institutions as a short sale, so proceed with caution if you indeed to buy again in the near future. Also, if you do decide to proceed, you may want to go directly to the bank vs. paying a loan mod company. I haven't had any positive experiences with any companies that have said they could do it thus far. Best of luck!
0 votes Thank Flag Link Wed Aug 14, 2013
I just found out I am not harp qualified. I guess that's good.
0 votes Thank Flag Link Wed Aug 14, 2013
Harp qualified or Harp eligible? Or did you look at the qualifications and see something that makes you think you can not qualify?
Flag Wed Aug 14, 2013
If it is HARP eligible, I might be able to help you out. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes Thank Flag Link Wed Aug 14, 2013
great. thanks. I just started to look for an attorney.
I will try bankruptcy or something to keep home.
0 votes Thank Flag Link Wed Aug 14, 2013
Statistically speaking, you only have about a 5% chance of getting approved for a loan modification. My advice for anyone trying to get a loan mod. right now is to start planning for the 95% chance that your bank will choose to foreclose on your home if you have or do stop making payments. When you are ready to start preparing for the 95% likelihood of foreclosure, feel free to contact me and I can let you know what to expect and how to avoid foreclosure.

Kevin Sanderlin
Keller Williams Realty
Cell 858-212-4702
0 votes Thank Flag Link Wed Aug 14, 2013
all the real estate answering the same so they can have the listing.
Flag Thu Jun 19, 2014
yes it is.
do you have any ideas or suggestions for me
0 votes Thank Flag Link Wed Aug 14, 2013
Do you know if your property is HARP eligible?
0 votes Thank Flag Link Wed Aug 14, 2013
no. I am out of florida and I just read all complaints about them. very sad. I am looking for help since husband lost job and we are on 1 income. I don't want to loose house I would rather file for bankruptcy
0 votes Thank Flag Link Wed Aug 14, 2013
Send me an email, and I will get you the phone number for the non profit. They will go over your options (baarestad@pcrcc.com ). Be sure to give me a "thumbs up" on my comment below please.
Flag Wed Aug 14, 2013
Are they a non-profit? I have referred quite a few clients to a HUD certified non-profit organization that will help with the modification process. Some of my client's get a modification, some come back to me for a short sale. Let me know if you would like anymore information. Good luck!


Brian Aarestad
Prudential California Realty
Home Services of America, A Berkshire Hathaway Company
Cell: 858-525-3262
Fax: 619-521-0100
DRE # 01839557

Your referrals determine my success. Please tell your family, friends and co-workers about me.
0 votes Thank Flag Link Wed Aug 14, 2013
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