Can a realtor help negotiate a Loan Modification with our lender? We want to keep our home, but are in foreclosure and don't know if it is

Asked by Jen, Yukon, OK Tue May 22, 2012

possible.

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Trent Rhodes, Agent, Oklahoma City, OK
Wed Jun 12, 2013
Realtors can absoluley help with a loan modification. A lot of times, the loan modifications do not get approved, but with the right communication with your lender, the chances are better that it will. I would use a short sale as a last resort to prevent foreclosure, especially if you want to stay in your home. I would be more than happy to help you with your loan modification.
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Leah Brown, Agent, Yukon, OK
Wed Feb 6, 2013
As the others mentioned, selling as a shortsale can help you avoid foreclosure. In the past, I've had my shortsale sellers send a letter to their mortgage company giving me permission to call on their behalf. Shortsales can be long and frustrating processes, but are still better than foreclosure.
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Trent Rhodes, Agent, Oklahoma City, OK
Mon Aug 13, 2012
I know it has been a couple months since you posted this question, but if you still need help with your loan modification, I can help you. I have helped other clients obtain their loan modifications as well. I can pretty much give you the run down of what they are looking for. If for some reason, they will not work with you on a loan modification, I can help you sell your home in a shortsale (if needed) so you can avoid foreclosure. Contact me at info@trentrhodes.com for more information and I will be more than happy to help you look at your situation and see your options.
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Ryan Rowe, Agent, Yukon, OK
Mon Aug 6, 2012
Essentially you need to notify your lender in writing that your realtor has permission to negotiate terms on your behalf. They your realtor may become involved. Good Luck!
0 votes
Ron Thomas, Agent, Fresno, CA
Mon Jun 18, 2012
You would have to send a ltter to the Lender, adding the Realtor to the account, so that the Lender will disclose confidential information:
Been there, done that.
Supposedly, some Lenders are more receptive to Modification lately,
I would bet that it is because they want to keep the LOAN, and that wouldn't happen any other way.
Funny thing; Incentives!

Good luck and may God bless
0 votes
Phill Slocum, Agent, Oklahoma City, OK
Mon Jun 18, 2012
Loan Modifications in the past a lot of times have not worked out for the owners. I expect that it has not changed. I would think a better idea is for an investor to buy your property on a short sale, and then you could buy back from the investor as a renter with an option to buy at a later date. Give us a call; if you would like to explore other options to assist you to remain in your property.
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