Trial Bayview Loan Servicing Loan Modification Obtained for Irvine Homeowner

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Trial Bayview Loan Servicing Loan Modification

For Irvine, California Homeowner

The Law Offices of Michael Gaddis obtains a Bayview Loan Servicing Trial loan modification for a homeowner in Irvine, California. California Loan Modification Attorney Michael Gaddis relays the details. To see if Michael Gaddis can help modify your loan or  mortgage call 760.487.8266 to schedule a free consultation.

Trial Bayview Loan Servicing Loan Modification Video Transcript

**Video auto-transcribed by YouTube, please excuse any inconsistencies.

Hi I’m Michael Gaddis. Recently my office is attained a trial loan modification for a homeowner located in Irvine day had Bayview loan servicing as their servicer and this one was definitely an interesting one. I’m their simultaneous with our efforts to obtain a loan modification the homeowner had filed a lawsuit against bayview I loan servicing for several issues related to you servicing have their lonesome initial I’m documentation challenges. So the fact that it was it was flagged in litigation proved to be a little bit challenging because whenever you have you know outside litigation going on where you’re trying to obtain a loan modification. There’s extra set survives in reviews that go on didn’t would not normally go on if it was not litigation however you know in this instance I’m not so sure that the litigation didn’t help us. Usually it’s more of a hindrance than a help in this situation. I think it did wanted get help what are the things I was concerned about this one is you know the value that the servicer baby you might get for this particular house this particular house is a very high and house its value could be anywhere from five to seven and a half million dollars so it was a very large loan amount and a value could have been there depending on how you poor constant hater in value and what you know what you think the actual market value of this house is. I was concerned that day he would come back with a really high value and we would have a problem with a net present value test on however and in the end we did not have a net present value issue and in niche and the borrowers obtain a trial loan modification the trial on medication was very large is a from thirty-two thousand dollar monthly payment but the loan amount as close to six million dollar so he is yes is an enormous payment for an enormous loaning out so the homeowners said tended to be you know they were satisfied with it didn’t come out quite the way they necessarily want it to be but when factors are trying to play against you a little bit Angie. You have a lot of value in your house. It is really difficult to press that below against lender because the lender could very easily just pull up or insane0 on this is unacceptable to us and in deny you for in PVD and if it’s an MPV dinner than that pretty much means into the game if the numbers are accurate so I was concerned on that they were not obtain any loan modification at all bus on this I was built it Lee please we’re considering the odds I gave it to achieving anything in the beginning. So with that being said this is a you know a victory for borrowers on trial the country who have use non servicing babe you can be a difficult servicer and very frustrating. In fact I’m working another file right now dared to get sick they’re just ridiculous on their underwriting and they just don’t seem to understand and I’m having a difficult time getting into the hands of an underwriter who is sophisticated enough to be able to understand the financial situation have this other borrower but the good thing is this borrower did obtain a loan. I’m not a try loan modification and they’re on the way keeping their home should they choose to do. So thank you for so much for taking the time to watch this video. If you would like to a if you have baby sir babe you are loan servicing or any other lender for that matter and you would like to have me review your situation to see if there’s anything I think I might be able to help you were. Please feel free to give me a call no matter where you’re located in the state of California. You can reach me 888-242-2272are here in Southern California you can call me on my local line which is 760-692-5950, 760-692-5950or you can email me at Thank you so much for taking the time to watch this video and I look forward to speaking to you in the future.