Loan Modification Experiences

"I was contacted by a representative of Principal Mitigation Corporation regarding a loan modification of my current mortgage. I was in a financial crisis that was unmanageable. I was at first apprehensive because I had been granted a modification the year before and was terribly dissatisfied with the outcome.

Since I was in a terrible situation I agreed to enlist Principal's assistance in a loan modification. I am now in a program with my current mortgage company that will enable me to remain in my home with my children and grandchildren.

I am quite satisfied with the results of the efforts that Principal Mitigation has put forth on my behalf. I recommend their services and am forever grateful."

"PMC, My brother tells me you might be able to help my husband and I sort through getting our mortgage modified with Wells Fargo. I have been in a never ending loop with them for about 4 mths now and seem to be getting nowhere. He thought you might be able to be of some assistance maybe at least as far as someone that can help my bank keep their instructions to me straight or at least consistent so that I can get something done. It seems the loop I am stuck in (at least the opinion I have formed of it) is the collections dept vs loss mitigation dept. They give contradictory information and instructions which ultimately leaves me in a HUGE quandry for trying to move forward with getting a modification done, without getting really screwed at the same time.

I have read quite a bit and am pretty sure we meet all the qualifiers, our mortgage now (and has since February) exceeds 31% of our monthly/yearly income. Our house is upside down in value due to nothing other than the state of economy and my current interest is either 6.75 or 6.25%. I am making my current payments at this point, which is a struggle, but am sitting at a constant 4 mths behind. Which as you know, is a very dangerous place to be. Unless I can get this modified or figure out how to pull an extra full payment out of nowhere and be able to make 2 pymts in one month I will be forever stuck at 4 mths behind. Oh and by the way, certainly no chance at refinancing because of our late pays etc that we have had over this last 8 mths.

My husband was 100% unemployed for 4+ months this year with $0 income and certainly was not able to find another job earning $100,000/yr. Leaving us in the position of about a $4000+ to $2400-+ debt to income ratio. We have gotten most things back under control but I can't seem to get any type of a handle on getting this Modification done on our home and of course no way to catch up 4 mths worth of payments.

I know it may sound like I have lost it and am just not being responsible or listening to what they are telling and following through with it but I swear that is not the case at all. Everything they tell me is conflicting, and more often than not, the letter they send me to confirm our deal, NEVER has the same deal contained in it that was discussed on the phone. I certainly don't want to sign something that is not in our interest and only want to look at something like a "partial HUD claim" as a VERY LAST resort.

Anyway, if you could provide any advice, assistance or help to get us through this process, it would be appreciated more than you could ever imagine.

My work number is listed below, my cell is xxx-xxxx, my home # is xxx-xxxx and my email should be listed above.

Please let me know if you think you can help or have any advice for us. And I would like to thank you up front for any help you can provide.

Sheri D. E-----------R Legal Assistant"

"I am quite pleased so far with the attention, diligence and care your company, particularly Angie F., has given my mortgage files and the progress we have achieved up to this point.

I have no hesitation in recommending you to others who are looking for a reputable company to assist them in getting their mortgage loans modified."