Does anyone know of any resources private/ state or federal for people who have been denied a loan modification?

Asked by IvonneSellsHomes, New York, NY Wed Sep 18, 2013

Is there any other recourse for the purpose of keeping the home? I have very close friends who were just denied a modification and the bank is asking that they either get current with mortgage or short sale. Neither of which they are in a position to do.

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Gail Gladsto…, Agent, 11743, NY
Fri Sep 20, 2013

If you find the answer, please share it with me at
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IvonneSells…, Agent, New York, NY
Thu Sep 19, 2013
Seiba, I truly appreciate your advice. I will forward it to them asap.
The reason why a short sale isn't an option is because they want to keep the home.
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Janet Nation,…, Agent, Baldwin, NY
Thu Sep 19, 2013
Why are they not in a position to do a short sale, the next option would be a foreclosure which is totally undesirable to their financial well being for a longer period of time?
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Seiba Cooper, Agent, Plainview, NY
Thu Sep 19, 2013
Good Day,

I'm very sorry to hear about your friend's circumstance. It almost seems as if banks are reluctant to help homeowners in need. They make you go through the motions only to be denied. What ever there reason for the denial, It can be disputed within 30 days. My recommendation would be to request that they reconsider based on some concrete proof that by the bank offering some assistance your friend will be able to get back into their good graces payment wise.

In most cases banks or mortgage servicing companies deny homeowners when they lack proof that they will be able to stay current on their payments if the loan is modified. Also, In many cases they deny modification requests if they determine, there really isn't a hardship at all.

Please refer your friend to the site below. I've been informed that they are very helpful and get results.

They may also want to try

I hope this is helpful.

Best Wishes,

Seiba Cooper

Licensed Real Estate Salesperson
Charles Rutenberg Realty, Inc.
255 Executive Drive ~ Suite 208
Plainview, New York 11803
Cell: 914-396-6046
T: 516-575-7500
F: 516-575-7501
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