Attorney based loan mods...

[Joel Fraser]

Hey all...new to the site, so I apologize if this is in the wrong place on the forum. If it is, perhaps the moderator can move it? Anyway, I've yet to be late on a payment, still have good credit, and I've got a couple of properties. One is a massive, expansive, 450sq ft. studio in L.A. (LOL) and the other is a townhouse in Tampa Bay. Needless to say, they're both waaaay upside down at this point. Actually, I've lost $60-100k both properties. The LA place is through EMC. They've offered to do a modification, but getting to their website to download all the stuff just isn't happening. I think the site they gave me is bogus. They also said they'd send me a mod packet and never did. The other loan is a refinance done through Countrywide. This is the Tampa place. It was refinanced through Quicken and sold to IndyMac. When it started to climb faster than Lance Armstrong in the mountains, I refi'd to a 6.875 fixed through Countrywide. They aren't interested in any type of refinance or modification, even though the place is now worth about $60-70k less than what is owed. I've thought about utilizing one of the attorneys advertising here on zinomortgage, but was curious if anyone has used their services and to what outcome? Were there any fees that they don't tell you about? Also, what do you think my chances of a decent mod on either place is? Finally, I've also given thought to the government refi on the CA place, asi t's the one still on the "pick a payment" loan. I always pay the 30 year option for the first and second, but the 2nd is so high that I'm paying $1420 a month (without my condo fees) on $173k. They're selling for about $80k right now, by the way! Warm regards and thanks for putting up with what are most likely repetitive questions from a newbie.