Loan Modifications in Marin & Sonoma Counties
Obtaining a loan modification is a process of perfection ... which you can attempt to complete the first time or 30th time (currently 1 in 30 modifications reportedly succeeds). This process can, but needn't be, a long, complicated process ... which is not to say that a loan modification is fully predictable ... think of it as walking into a kaleidoscope ... disorienting and amazing ... this is a process in which a good guide is invaluable.
As I write this I just heard from clients who had an approved modification last week (after 9 months of submissions and resubmissions) ... today the underwriter informed them that they'd missed a signature and would have to resubmit and start over.
Why you ask? Last week I heard from B of A that they have 2800 processors dealing with 60,000 applications a month ... do the math and try (really try, it'll help you gain perspective) to empathize.
In a different case just this morning, in previewing a client's submission, I discovered a single error ... hey, that's my job ... and now they'll be able to submit a perfect package to an underwiter who will smile.
Certified Distressed Property Expert