Mortgage loss mitigation - where to go?

Asked by R Barry, Phoenix, AZ Tue May 6, 2008

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Dan Harris, , New York
Sat Oct 4, 2008
Homeowners can negotiate their own Loan Modification, there is no need to spend thousands of dollars on a third party.

There is a Great Book & CD Kit available to help distressed borrowers through the Loan Modification process. It is a Complete Step-by-Step Guide to the Loan Modification negotiation. The Kit cost less than $100..

It is available at:
0 votes
Dave Mascari, , Phoenix, AZ
Sat Oct 4, 2008
You will get a run around like you won't believe. Most lender's customer service departments won't even talk to you unless you're past due on your payments. Then when you are past due you'll talk with collectors who don't have any authority except to say "NO" to everything you ask for. You need someone who understands how these departments operate and who can get into the department and talk with the decision makers. I have some experience in this area since I ran a mortgage servicing and asset recovery department for a bank in the Midwest and I was the final decision maker for loss mitigation issues. Please contact me if you haven't gotten results yet.
0 votes
Michelle Qua…, Agent, Scottsdale, AZ
Tue May 6, 2008
You will need to call your lender and ask for the Mortgage loss mitigation department. Majority of lender will try to work with you to get you back on track. The lender don't want your property in their REO Departments. Sometime this can be difficult! Don't give up!
0 votes
Sheryl Robin…, Agent, Gilbert, AZ
Tue May 6, 2008
Call the lender/bank and ask for loss mitigation department or for asset manager. Each lender has their own guidelines and procedures to follow. It may be frustrating trying to get through to the 'correct' person to answer the questions you have.
0 votes
Amy L Gerrish, Agent, Scottsdale, AZ
Tue May 6, 2008
I guess I'll have to answer your question with a question.
Which mortgage company?
Each lender usually has their own department.
I have gotten to know Chase's L.M. Department very well.
Their number is: 1-877-838-1882 x53343
Web Reference:
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