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Wachovia Lawyer Home Alteration Success Story Laguna Beach

By: George Burns


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This is a Wachovia Lawyer Loan Change success story from Laguna Beach California. The client had been attempting for months on her own to workout her own Attorney Home Workout with Wachovia.

She was 3 months late on her mortgage and was in one of those original “pick a pay” Attorney Note Modification from World Savings at a rate of 6.875%. The “pick a pays” are not exactly the same as the Bank Of America negative amortization programs. However, these are those programs that were shunned by many! They seemed to be the dirty word in the industry, but I think they were great for certain clients because the interests rates were very low on some and allowed cash flow for those that needed it during tough times.

Anyway, my client did not qualify for HAMP) under the Government Lawyer Home Change because she owed $960,000 on her home at the time, which is a loan amount that is too high for the qualifying for the program. As a side note, her original note balance was lower, but with the Wachovia option arm note, she had paid the lowest note payment which was always less than her interest, and thus her principal balance got larger. She also had not paid her property taxes for the last two payments.

Since the housing market was in a decline at the time, she found herself underwater in her home, meaning she owed more than her house was worth. At the time of the Wachovia Attorney Mortgage Alteration, her homewas worth $700,000 or so, not sure what it is worth right now.

She spent over 6 months fighting Wachovia and got nowhere save a decline and plenty of aggravation of course. By the way, Wachovia ranks as the worst of the list as far as completing any type of work out programs for homeowners. So, my client finally {called|contacted|reached out{ me with her story and decided to hire an Attorney to handle her case, as she really had no other option at that point if she wanted to keep her property. She did not want to short sale if at all possible.

While the lawyer was handling her case, she changed jobs, which is always a concern as any change in the person's financial situation could impact the outcome of the Lawyer Note Change. So, as a reminder to all, do your best to keep your financial situation the same, i.e. NO CHANGES, unless cleared by the Attorney first!

Within three weeks of submitting the Attorney Home Adjustment to Wachovia, our Attorneys had terms already negotiated. A principal write off of $120,000, forgiveness of the late payments, property taxes tacked on to the principal balance, and a 40 year fixed rate at 6.125% were the final terms.

Article Source: http://depositarticles.com/

If you have one of those difficult loans that you want to get out of and feel alone in the process we can help, please contact us at www.CallALMS.com or call 877-700-2567. Our Attorneys offer 100% money back guarantee with almost 100% success rate

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