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hlawler
182 Posts |
 Posted - 10/27/2009 : 08:33:47 AM
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I have been told by BofA that if Duecthe Bank is the investor on an option arm they are not approving loan mods.
Has anyone else had any luck with Duetche Bank/BofA loan mods for option arms?
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commercialrelief
24 Posts |
Posted - 10/27/2009 : 09:19:56 AM
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It's not a question of whether they're going to accept loan mods or not, if there are violations associated with the Option Arm, and we know there are, then you're talking legal ramifications. I didn't know a bank was exempt from illegal activity.
quote:
Originally posted by hlawler
I have been told by BofA that if Duecthe Bank is the investor on an option arm they are not approving loan mods.
Has anyone else had any luck with Duetche Bank/BofA loan mods for option arms?
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firststarmedia
22 Posts |
Posted - 10/27/2009 : 1:15:48 PM
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In our experience; clients with a pay option are not good homeowners to go after as they are acustom to making the minimum or interest only payments and a modification that stablizes the mortgage against negative amortization will cause the payment to increase to a level they will not be comfortable with.
(A bit off topic; but hope it helps someone) |
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