varga197
209 Posts |
 Posted - 08/10/2008 : 08:03:03 AM
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Are there any milestones, "rules" or common guidelines with loss mitigations? Like one a client was served NOD he/ she has to have 35% of the amount she is behind to work something out?
My number two question is: Are lenders more willing to work with a client if he/ she is not behind his/her payments or the opposite is true? People say that each lender is different, but I think there is a principle behind it.
I'm talking to a friend who was told by a paralegal to stop payments on his loans in order to qualify for loan mod. I'm not sure if that is the case. Especially not if you want to work out a short refi.
Are there any general rules to follow? Thanks for the knowlegable people sharing |
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