Loan Modification Guidelines Important Facts

Get Your File Approved By Following Lenders Guidelines

Loan Modification Guidelines are a bit tricky when you contact your lender for help.

Let me illustrate this,

OK, you realize that in the next two or three months you will be facing a pay cut.
You are proactive, you have heard of programs available to homeowners in distress.
So you call your lender, expecting assistance.
The rep tells you that you can't get help unless you are behind on your payments.

Of course you are very disappointed, but there is nothing you can do so you wait.
Three months later you call your lender again, now you have fallen behind.

You are confident that you will get help.
When you call you are transferred to the collections department.
After being kept on hold for an hour or so the customer service rep tells you
that to for you to qualify for their programs you have to be current with your payments...........

You are in shock, now they offer you a Forbearance plan that will increase your payments to "help" you catch up.

This may sound absurd but it happens all the time.

The banks/lenders are overwhelmed with the current mortgage crisis.

• They don't have the resources in place to deal with it.
• They never expected for this to happen.
• Hundreds of thousands of homeowners like you are calling their lenders daily.

Your lender does not want your home.

• They know that if it goes into Foreclosure they will loose tens of thousands of dollars.
• They want you and everyone else to pay on time regardless of how difficult it may be.

So why do most homeowners who attempt to do a Loan Modification on their own fail?

It is because they don't know how to present their case properly to the right person.
It is very hard to know what the Loan Modification guidelines are unless you consult a specialist.

You may be eligible for a Loan Modification but because you filled out the forms improperly you got denied.

When you call your lender you are going to speak with a clerk whose job is to answer the phone.
No matter how nice or not nice they are they can't make any decisions about your file.
Unfortunately you can't just call and speak with a decision maker.
 
Your lender will always look out for their interests not yours.
You have no idea whether or not you have been given the right information.

Where are the decision makers?

They are working on thousands of files presented properly by mortgage specialists.
The files that are incomplete or presented wrong are set aside and that pile grows every day.

Some Loan Modification Guidelines: 

• You have to have an income.
• You must have a legitimate hardship.
• Your expenses and your income have to be almost the same.
• You must prove that unless you get help you will fall behind
  on your mortgage payments.
• In some cases you have to be behind on payments, in others you don't.

You see, every lender has different Loan Modification guidelines.

It is impossible to know how to present your case unless you are a Loan Modification specialist.

 An experienced negotiating team will know:

• What program you qualify for.
• How to get your file approved.
• They will represent your best interest not your lenders.
• They will resubmit your file if necessary to get you a fair payment plan.

Call me I understand the process because I do this every day.
I am on your side, I understand how you feel.

I can't promise to you that you will qualify however after our
conversation you will know your options and what to do next.