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Loan Modification Hell: Thanksgiving Success Stories #1

Thanksgiving is supposed to be a time of peace and celebration for what we have. But so many homeowners are in dire straits thanks to the messed-up loan modification programs that I feel have only complicated our problems. My Thanksgiving gift to you is a short series of Loan Modification Success Stories.
Click to read Success Stories #2, Success Stories #3, and Success Stories #4.
The Loan Modification Hell road has been long and pretty rough. Millions of homeowners have applied for a loan modification under the government's HAMP program. About one-tenth of those who applied for at temporary loan modification were approved for a permanent loan modification.

My Loan Modification Hell blogs have been extremely active, with folks checking back to let me (and each other) know what's happening. Every once in a while, someone posts their success story.

For those in the trenches, I wanted to share a few success stories:

From startingover101:

"I told my modification hell story here back on the 3rd of Feb. Well, last week we got final mod papers delivered to us by UPS. Before we signed anything I had a friend who is a mortgage lender look them over to see if there was anything that wasn't on the up and up. She said they looked fine. The loan was set at 2% for five years then went up a percent until it reached 5% then stayed there for the remaining 17 years. I can't believe it. It lowered our payment by $400 and added 5 years to the note. They added in all the back payments but did not add any late fees. I am not sure why after all this time I got the modification...I can't believe it, like all of you here on these boards it has been a nightmare and I really didn't have much hope. I am the only person I know in this process that has got this far, but I hope my story is an encouragement...don't give up...keep trying."
From Z Burkett:
"Hire a professional to get this loan modification done for you. The legitimate ones know what they are doing, do your research. Find the right company or lawyer (one who knows what he's doing) and go at the banks like you'd goto court..prepared with the best representation that you can find..I can't stress this enough how much sleep I got and gray hairs I lost once I turned my case over to Corey Lassiter at Clear Image Financial Group, Inc.. They are one of the good guys. Kept in touch with me from the very beginning, I could view updates on their website, or phone in and speak to the negotiator assigned to my case, as well as I don't know how many times I spoke to Mr. Lassiter on the weekend or late in the evening via his cell phone. He always took the time to speak to me. Then when my loan mod was approved, I could exhale....They got accomplished in 90 days what I couldn't seem to get past step one for about 6 months."
From ojiabuzor:
"Am I the only lucky man in this country as far as this issue is concerned?
Yes I started the Mod. process in July of 2009 through Saxon Mortgage Services. Though the process was quite stressful, I was most respectfully guided through it all by Saxon. At the end my mortgage was cut 50% and my interest rate reduced from 7.9% to 2% presently. Some of the downside to the whole process was the fact that this mortgage modification has completely messed up my credit score as well as my wife's...But after reading series of entries on this site I do count myself lucky that my application for modification was very successful through the help of my lenders Saxon Mortgage Services."

Read More About Loan Modification:

Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at and The Equifax Personal Finance Blog, and is Chief Content Strategist at, a community for real estate investors.
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