Kim & Kristine, Westside Los Angeles Real Estate & Short Sales westside homes & living

Wachovia And World Savings Mortgages, Is This You?

February 10th, 2010 at 9:18 pm | Type:

Author: kimandkristine | No Comments

Wachovia And World Savings Bank Mortgage Loans, Homeowners Falling On Hard Times, Is This You? Consider…

We recently met with an executive for these banks to talk about short sales and loan modifications. In case you didn’t know Wachovia is servicing World Savings Bank Mortgages. Our goal was to find out what they are willing to do to help homeowners in bad mortgages or financial troubles. because many other banks are saying this, but not actually following through when it comes down to actually helping & responding in a timely manner.

We found out they really want to help all of their borrowers in need and especially if you have a pick a pay loan. These borrowers typically have three different options to pay each month. What are they? It depends on how your mortgage is structured. Pick a Pay: 30 year fixed, interest only, or negative amoritization loan.

What makes this bank different from others is that they are open to working with you before payments are late or missed. Banks typically have huge carrying costs when you miss payments. It’s an average of at least 2% of the loan amount each month. Wachovia has asked us to help you if you are on the edge of missing payments or have missed payments, whether it’s a loan modification or a short sale.

If you know of someone who needs our help please have them contact us…we have a great relationship with this bank and would be happy to help with loan modification or short sale. Our fees are complementary to the homeowner.

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