I was working a deal with Wells and they sold it to AMC, homeowner was 4 months payments behind on a loan that was less than a year old. Many companies require a loan for 1 year before they will modify. I was able to negotiate a deal to have homeowner make regular payments for 5 months which will get them to the 1 year mark. Once she gets to 1 year we will do a mod with AMC. Borrower will call back and we will negotiate the modification.
she did have to make a contribution which we agreed on attorney fees and cost, $2,200.00 although could have done for less. She happened to have that much so that is what we offered.