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BankNegotiator
172 Posts |
 Posted - 05/22/2008 : 06:21:24 AM
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Getting mixed signals on this program.
What I read online says that if they are 60 days late or less then they can be refi'd at 97%. If they've gone 90 days late then it's only 90%.
The confusion comes in when you says "Well what if they are 5 months behind?"
This is an important questions because the customer may call you after being 60 days down. Then it takes 8+ weeks to negotiate a short refinance. They'll blow by the 90 day mark pretty quick in this business.
Does this program shut off for people if they've gone 120 days late? |
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cspatmon
2464 Posts |
Posted - 05/22/2008 : 07:25:34 AM
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| I know exactly what you're saying. In the beginning the information about this program that it was design to help delinquent homeowners thru foreclosure. I have had over 1000 turn downs for one reason or another. Therefore, I call it a truth or dare program. |
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