Posts Tagged ‘home loan modification’

Market Tempature

Monday, June 8th, 2009

One question I get a lot pertains to what is going on in the market at any given time.  Recently I was contacted by Jillian who used ModificationProfessor to reduce her 2nd mortgage.  In just two weeks she was able to negotiate down her $100,000 2nd mortgage to $6,500.  That sounds amazing I agree.  The reality is that 2nd lien positions have little leverage when it comes to foreclosures.  Therefore they are willing to settle for much less.