I love your channel. Can you please name the video you're referencing when you say there are other videos or link them in the description? That would be super helpful. Your information is the best I've seen on TH-cam and I work with homeowners facing foreclosure on a regular basis.
Hi Tanishia - go to my Loan Modification Application and Negotiation Playlist. I'd recommend watching all of these videos but the most relevant ones are probably the Phase 1 and Phase 2 videos and How to Execute Loan Modification Documents. Good luck!
I live in California. My property tax is due on Dec. 10. Gov. Newsom signed an order a few months back to waive the 10% late fee for COVID 19 hardship. It still needs to be approved by the city tax collector office. I am also on forbearance and missed my last 2 payments. Is it better to reinstate my mortgage or pay my property tax. I can’t pay both. Please advise 🙏
Hi Kenneth! First off, you should definitely seek out an attorney in CA to do a full review of your situation. I'm an attorney in Washington so I can't give you much specific advice about your situation. There may be a way to get on a payment plan for your taxes - I would reach out to the county to ask about that option. Generally, mortgages can spiral out of control faster than tax foreclosures so I would focus on the mortgage but both need to be dealt with. I can't tell you what options are available because of the state you're in so I would recommend talking to the county about tax repayment plan options and then reinstating whichever one has the potential to get worse faster. Sorry you're in a tough spot.
Your channel is so helpful thank you so much!! I am in California and just exiting forbearance with SPS I HAVE filled out the RMA and I am collecting my financial information. Two years ago my husband was out of work and we attempted a modification and we were denied we ended up recovering from our hardship then Covid struck do you have advice?
Hi Maria - I can't speak with you because I'm not licensed to practice in FL. I would recommend you reach out to someone in your state with your questions!
If a lender denies a modification stating that the maximum number of modifications has been exceeded, is it possible to get the lender to reconsider through using a “request for waiver?”
Good question! Yes, it is possible to use a request for waiver to ask them to reconsider. The best way to do this is through the appeal process meaning, if you get formally denied for your modification - you then typically have 30-days to appeal the denial and asking them to reconsider through the formal appeal process is best because it guarantees you a response. With that said, it is very hard to get investors to change their guidelines and approve a modification that exceeds their maximum number. I would say your chances of success are about 25%. If this is what you're trying, make sure you have a good back up plan and plenty of time to change course if it doesn't work.
Question if I may: if a lender denies your request for modification because they say you have exceeded the maximum number of modifications, is there any recourse to have then reconsider?? I have seen that there is such a thing called a “request for waiver” that asks the lender/investor to make an exception.
Thanks for the great advice. I'm going through it now
You're welcome! Good luck!
Great video!
wow, taking notes. thanks great info😍👍🙏
Thanks Rob!
I love your channel. Can you please name the video you're referencing when you say there are other videos or link them in the description? That would be super helpful. Your information is the best I've seen on TH-cam and I work with homeowners facing foreclosure on a regular basis.
Hi Tanishia - go to my Loan Modification Application and Negotiation Playlist. I'd recommend watching all of these videos but the most relevant ones are probably the Phase 1 and Phase 2 videos and How to Execute Loan Modification Documents. Good luck!
Good information
Thank you!
I live in California. My property tax is due on Dec. 10. Gov. Newsom signed an order a few months back to waive the 10% late fee for COVID 19 hardship. It still needs to be approved by the city tax collector office. I am also on forbearance and missed my last 2 payments. Is it better to reinstate my mortgage or pay my property tax. I can’t pay both. Please advise 🙏
Hi Kenneth! First off, you should definitely seek out an attorney in CA to do a full review of your situation. I'm an attorney in Washington so I can't give you much specific advice about your situation. There may be a way to get on a payment plan for your taxes - I would reach out to the county to ask about that option. Generally, mortgages can spiral out of control faster than tax foreclosures so I would focus on the mortgage but both need to be dealt with. I can't tell you what options are available because of the state you're in so I would recommend talking to the county about tax repayment plan options and then reinstating whichever one has the potential to get worse faster. Sorry you're in a tough spot.
Thank you Nadia really appreciate your. Answer , wish I can get some Ady from you.
Your channel is so helpful thank you so much!! I am in California and just exiting forbearance with SPS I HAVE filled out the RMA and I am collecting my financial information. Two years ago my husband was out of work and we attempted a modification and we were denied we ended up recovering from our hardship then Covid struck do you have advice?
Hi Nadia I’m in Miami.
Hi Maria - I can't speak with you because I'm not licensed to practice in FL. I would recommend you reach out to someone in your state with your questions!
If a lender denies a modification stating that the maximum number of modifications has been exceeded, is it possible to get the lender to reconsider through using a “request for waiver?”
Good question! Yes, it is possible to use a request for waiver to ask them to reconsider. The best way to do this is through the appeal process meaning, if you get formally denied for your modification - you then typically have 30-days to appeal the denial and asking them to reconsider through the formal appeal process is best because it guarantees you a response. With that said, it is very hard to get investors to change their guidelines and approve a modification that exceeds their maximum number. I would say your chances of success are about 25%. If this is what you're trying, make sure you have a good back up plan and plenty of time to change course if it doesn't work.
Question if I may: if a lender denies your request for modification because they say you have exceeded the maximum number of modifications, is there any recourse to have then reconsider?? I have seen that there is such a thing called a “request for waiver” that asks the lender/investor to make an exception.
I believe I answered this for you above! Thanks for your question!
Helllo thank you for your very informative videos, I do have a question and wanted to know if I do can call you. 🙏
Hi Maria - what state are you in?