When applying for assistance every lender has different guidelines as to the time it takes to be reviewed and just the same they all have different time frames a borrower must wait prior to reapplying if a decline has been made on their previous workout attempt. When a workout option is declined (repayment plan/loan modification/refinance/etc.), One West Bank, FSB who also operates under the name of Indymac Mortgate Services, a homeowner does have to wait a period of fourty-five days prior to reapplying. This is their current policy for servicing their files.
So that means if a debtor applied and was denied they can turn around and apply again after 45 days. This is a great option as some lenders do not allow you to reapply depending on the circumstances. A decline actually can limit you permanently!
We have seen that at times professionals may experience problems with lenders so choosing the right team to work your case can make all the difference. Many homeowners choose to go at it on their own till they see that they are not getting any assistance. Though we have regularly seen that we have been able to postpone sales it is important to not leave it to the last minute. If you choose to sell your property also take into consideration that it will take for you to get an offer. Getting a jump on it can always get you closer to achieving success.