I am in foreclosure therefor I have request to make a modification to my loan the bank has agree to work w/me?

If you are in foreclosure, don’t count on the bank working with you. They are getting ready to take the house, and unless you send them full payment due including all arears and attorney fees to get current, they will not negotiate your rate, terms or anything else. What they may do is work out a forebearence which means that on top of your current payment, they will tack on an an extra amount for a set period of time to get you caught up, but depending on how far behind you are in apyments then they may not even be willing to do that. Your options here in reality are as follows: file a bankruptcy to allow you time to do one of two things, refinance the house for a foreclosure bailout if there is at least 30% equity in the home, or sell the home as quickly as you can. You need to consult with an attorney, they usually consult for free, and get direction from them. Good Luck!

foreclosure will be more because the lenders take too long to process the loan modification. Lenders are also asking for large upfront dpwn fee from homeowner. My friend worked with Maximondo Modification Consultant Corp. of Chicago, Il 60618, 7735888776 and he told me that lenders are very hard to deal and giving too much pressure to homeowners. The government should mandatory enforced total modification considering the personal expenses into debt ratio such as utilities,groceries,medical bills,car insurance, car repairs,etc. They should alo enforced the lenders to approve the loan modification and lender should not initiate the foreclosure until the 8th times missed payment. The government and the lenders should pay the private or 3rd party loan modification at least $1,000 per file. The govenrment especially the FBI to investigate the collusion of lenders staff and officers with the outside forecloused lawyer. The lenders delaying the loan modification so that the outside foreclosed lawyer can start the foreclosure.

If they are willing to work with you and give you a fixed rate, go for it. Think of it this way … you do not know until you try.
You can also try to re-finance with another company, but with the home in foreclosure, that will be tricky.
If you are not able to bring the property current on your mortgage or re-finance, you might want to consider selling.

Good Luck!

The loan modification will bring your account current. You cannot re-negotiate the terms of the Note that you signed when you purchased the property, i.e., if you have an ARM, you cannot change it to a fixed-rate. I would suggest you complete the loan modification to stop any foreclosure proceedings, then re-finance.

A part of a loan modification can be used to give you a fixed rate. We have been very successfully at getting this done for our clients. When you call them, get approved for the Loan Mod then ask them about the fixed rate. Show them you can’t afford the home if the rate increases.
Here is a financial statement to review your finances. Have this filled out accurately before you speak to the Mortg. Co.