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Re: Nope...
Posted by  Joan Bergstrom of CA on 7/21/11 12:36pm Msg #390481
I did a loan modification a few days ago and the borrower got 2.3 % loan for 5 years and it goes up to a maximum of 4.5% over a 30 year period.

The problem as I see it is, the loan amount is approx $300,000 and I don't think they could sell the house for much over $175,000.

This borrower might have to live in this house for years and years for it to be worth anywhere near $300,000.

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Messages in this Thread
 Modification question - Ali/IL on 7/20/11 10:56am
 Re: Modification question -  Linda_H/FL on 7/20/11 11:09am
 Thank you! n/m - Ali/IL on 7/20/11 11:12am
 Re: Modification question -  Larry/IL on 7/20/11 11:11am
 Re: Modification question - Sherry Miller on 7/20/11 12:11pm
 Fuhgeddaboudit! -  Shoshana/AZ on 7/20/11 1:47pm
 Re: Fuhgeddaboudit! - Sherry Miller on 7/20/11 2:44pm
 Re: Fuhgeddaboudit! - Ali/IL on 7/20/11 3:25pm
 Nope... -  Shoshana/AZ on 7/20/11 4:12pm
 Re: Nope... -  Joan Bergstrom on 7/21/11 12:36pm



 
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