HELP WANTED–LOAN MODIFICATION
August 25th, 2009 categories: Market Trends
Sunday’s Chicago Tribune (8-23-09) had an excellent article by one of the best real estate writers I know of, Ilyce Glink. According to the article, loan modification is just not working. Ilyce feels that lenders are not listening or responding appropriately in a timely fashion. President Obama had a meeting with top mortgage lenders several weeks ago and supposedly told them to get going with loan modifications. The lenders said they would do 500,000 loan modifications and there was no time mentioned for doing them. Delays can and will affect an individual’s credit history and their credit scores. The article goes on to give concrete suggestions about what to do if you just can’t get any response from your lender–with a web site and a hot line that might help you get some attention. This must be one of the most frustrating experiences a homeowner can encounter–hope has been held out that something can be done and then you are not be able to get it done. If you need a loan modification, read the article–you just might find some fresh ideas. Click here for the full story.
Questions about Chicago real estate? Just call me, 312-981-2360 (direct) or 312-607-1306 (cell). I like e-mail too!
Here are a few articles that might interest you:
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