mortgage loan modification

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To http://RealEstateMarketingThisWeek.com

Part 1 (Excerpt)

Expert tax advice from a CPA regarding a real estate related issues

Today’s show has a timely message. We have with us, an expert in the tax ramifications of the different types of mortgage situations that people find themselves in, we have brought in Mike Patenella, that I will introduce in just a moment, as well as Brett Fallon is back with us. Were going to be talking about the tax ramifications of short sales, foreclosures, and some of the different types of loan modifications.

Now if you listen to our show regularly, of course you know, we have been over the last several weeks, talking about loan modifications, but we have been getting hundreds of e-mails and calls requesting more information on the loan modifications. There are also some interesting questions that people ask about whats going to happen in regard to taxes. Thats the one thing that so many people are not talking about.

Well we need to talk about it. Its something that we need to bring to you that you can hear and thats what were going to focus the majority of today’s show on. Before I introduce Mike I need to introduce one of my very best friends and the best financial advisor I have ever known, Brett Fallon. Brett thanks for being on the show today.

Brett also has some information in regard to the markets and there is some really great, exciting stuff out there. But before I throw that back over to Brett, we have our expert guest today. He is a CPA and his name is Mike Patenella, thank you for being on the air with us today.

Mike is an expert in taxes, he is a CPA, he knows the ins and outs of all matters tax. His expertise in this particular area is widespread. Mike is an expert and will have specific answers to questions that we have put together. If you have had a foreclosure or youre facing foreclosure or if youre considering a short sale or bankruptcy, any number of things. Were going to touch on each just a little bit.

But we have a few numbers on our staff who are experts in loan modifications, we have put together a great video that helps explain the process, it’s about seven minutes long. And we will get that sent out to you in immediately.

Duration : 0:5:25

Read the rest of this entry »

If so, how did you get accepted? I was told we had to write a letter saying why we need the loan modification in detail, any tips??
We are already on a repayment plan.. I dont understand how they would expect us to pay $200 more a month for the next 3 months if we got behind with one payment. We plan on paying everything up to date within the next 3 weeks (with income taxes) & not be on the payment plan anymore after that b/c having to pay $200 more a month is just a crazy thing to offer to someone that is already behind…!?!

With the economy the way it is it’s either modify or foreclose.
I know of someone who’s house dropped from 700000 to 350000 so you are not doing so bad their payments are 4000 per month. I hope this cheers you up.