Save My Home USA

[Myhearts]

Hello Hearts here,

Anyone heard of this company?  DH and I were referred to them by a friend of a friend. 

Hearts

[ShanetheMortgageMan]

Sorry I can't say that I have.  Have you browsed through the forums at loansafe?

[BrianB_The_Loan_Professor]

Nothing? Tell us more if you find out it is agood company - be aware of the scams out there right now=Greedy people pop up when people are gurting and try to take advantage

[Myhearts]

Hey Guys,

Hearts here.  Thanks for your responses.  I was told of them by a friend whose friend is a loan officer and has been referring people over to this company because he was not able to get them refinanced.  Success rate?  Don't know yet, as they are still in the process of the loan modification with their lenders.

What this company does is:

Works directly with the Loss Mitigation attorneys with your current lender  (they are attorneys as well)

Work to get your interest rates lowered

Try to get your past due payments put on the end of your loan

Get a payment that you can actually handle and lock that payment and interest rate in for 2 years

Yes, I could have talked with loss mitigation myself which I did but they were not forthcoming with any assistance only suggesting shortsale or foreclosure.  We were looking for better options.  I will keep you posted as I get information from them.

Hearts

[ShanetheMortgageMan]

Good luck - if they charge any fees make sure they are refundable, and review the conditions.  Sometimes the refund is null if they are able to negotiate any better terms for you, that could even mean a $5/mo reduction in your payment.  Read the fine print.

[Myhearts]

I will Shane.  Thanks

hearts

[Anonymous]

I just read your question regrding Save my Home USA.  we are working with them and up until this time, they are great to work with.  Negotiations have started, so I'll keep you informed.  I have done alot of checking on them and they seem to be reputable.

[Myhearts]

Crosel,

This is great to hear that someone else is working with them.  What have your experiences with them been so far?  We are just getting the authorization in to them so we are waiting for the next step.  What are they saying that they could possibly do for you all?  What is your situation, are you facing foreclosure?

Hearts

[Anonymous]

Hearts,

They are negotiating to lower the rate, lower payments and principal reduction.  I not optomistic, but hopeful.  We are not in foreclosure yet, but down the road is likely, if nothing can be done.  Both my husband and I are in the real estate field (home inspector and real estate originator), not good fields to be in today.  We are looking at other jobs, which will help.  What about you?

Crosel

[Myhearts]

Hey Crosel,

Thanks for the quick response.  We are going into the fourth month of default on our mortgage so we will definitely be in foreclosure by the end of the year I am sure.  We just signed up with them earlier this month and my underwriter is Andrea and we are waiting to go into negotiations with the mortgage company. Who is your lender by the way? 

I hope this works for us because if not, we will have to try shortsale and if that doesn't work, foreclosure..  I am a bit afraid of those options because we waited so long to get our home and if is perfect for our needs and I am self-employed with a home daycare so I am concerned about how to make my income if we have to move and rent a place and they don't want kids there.

Hearts