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Announces

FHFA Announces Loan Modification Program…

FHFA Announces Loan Modification Program for Fannie, Freddie

Federal Housing Finance Agency (FHFA) director James Lockhart announced on Tuesday that the FHFA, ... Read more

Foreclosure

LOAN MODIFICATION HELPS WITH THE THREAT …

LOAN MODIFICATION HELPS WITH THE THREAT OF FORECLOSURE

If you are anguishing over the possibility of foreclosure on your home, there is an option that can help save your home and dignity. With all the options tha... Read more

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FHFA Announces Loan Modification Program for Fannie, Freddie

FHFA Announces Loan Modification Program for Fannie, Fr…

Federal Housing Finance Agency (FHFA) director James Lockh...

Do you need mortgage help?

Do you need mortgage help?

You need mortgage help and have tried refinancing or a loa...

Loan Modification Advice

Loan Modification Advice

If you need help understanding your option of taking advanta...

Top 10 Questions About Loan Modifications

Top 10 Questions About Loan Modifications

Top 10 Questions About Loan Modifications The loan modifica...

LOAN MODIFICATION HELPS WITH THE THREAT OF FORECLOSURE

LOAN MODIFICATION HELPS WITH THE THREAT OF FORECLOSURE

If you are anguishing over the possibility of foreclosure o...

Mortgage Loan Modification and How It Can Help

Mortgage Loan Modification and How It Can Help

Mortgage loan modification - How can it help? Mortgage loa...

Hardship Letters and Loan Modifications, What to Say, How to Say It

Hardship Letters and Loan Modifications, What to Say, H…

One of the requirements for most loan modifications is a ha...

Loan Modification Hardships

Loan Modification Hardships

The loan modification process all comes down to one thing, ...

Helpful Tips for Loan Modifications

Helpful Tips for Loan Modifications

Loan Modification Help Center – At the Loan Modification H...

Homeowners Are Fighting for Loan Modifications

Homeowners Are Fighting for Loan Modifications

Loan Modification Help Center Since the real estate crisis...

Seven Important Federal Loan Modification Program Facts

Seven Important Federal Loan Modification Program Facts

Every newspaper, television news outlet and website has rep...

Man offered $2 mortgage loan modification

Man offered $2 mortgage loan modification

How would you like to have your loan modification to result...

How to avoid loan modification schemers

How to avoid loan modification schemers

As homeowners across the state continue to struggle with mo...

Hardship Letter Suggestions When Seeking a Home Loan Modification or Short Sale

Hardship Letter Suggestions When Seeking a Home Loan Mo…

Many a homeowner has been "inspired" to do-it-yourself-dom ...

REST Report | Loan Modifications, Stopping Preventable Foreclosure and Scams

REST Report | Loan Modifications, Stopping Preventable …

The information and tools you need to get through the stor...

Are You Eligible?
Check your loan modification eligibility now.
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Helpful Tips for Loan Modifications

Loan Modification Help Center – At the Loan Modification Help Center, we do our best to supply homeowners with the kinds of information that will help them...

Four GOP State Attorneys General Object …

Four Republican state attorneys general said they oppose forcing banks to reduce the value of loans for troubled homeowners as part of a state-led mortgage-servicing settlement proposal....

Mortgage News

Top Nation and US Stories

The FDIC's loan-mod plan

DON'T GET YOUR HOPES UP: The FDIC's chairman, Sheila Bair, has said all year that mortgage servicers need to do more to help homeowners who have fallen...

Ex City Councilman Duped as Brooklyn Rea…

Real estate crime is so prevalent in Brooklyn, even a former city councilman was duped, the Brooklyn DA announced yesterday. The DA’s Mortgage Fraud and Real Estate Crimes Unit...

State Mediation Programs and Foreclosure…

State foreclosure mediation programs that bring together mortgage servicers and troubled property owners put foreclosures on hold when mediation has started. Foreclosures should be halted when mediation...

Tips For Your Loan Modification Applicat…

Loan Modification Help Center One of the reasons a loan modification attorney is so important to the loan modification process is that there are a million details and...

REST Report | Loan Modifications, Stoppi…

The information and tools you need to get through the storm… Setting aside how to fix, or rather un-thaw the credit markets that would thereby make mortgages more readily available...

LOAN MODIFICATIONS

Loan modifications are the banks’ way of helping the buyer have the chance to have the funds to pay their mortgage payments. When a homeowner has the menace of...

Is the Housing Bailout for you? - Loan M…

The new housing plan announced by President Obama last week has two main parts. First, there is a $75 billion loan modification plan and, second, there is a program that...

Shadow Foreclosures

Shadow foreclosures, especially in the hardest hit neighborhoods around the country, could keep a lid on any price recovery in residential real estate for much longer than...

Stopping foreclosures

Loan modification with an Attorney can help If you are behind in your mortgage payments or have received a notice of default (NOD). You do not have...

Fed stiffens restrictions on mortgage le…

New rules, aimed mostly at subprime loans, prohibit shady promotional practices and lending to home purchasers who lack the ability to repay. WASHINGTON -- The nation's central bank...

Economy

The Economy and you

Bailing out the economy

Bailing out the economy

Investors holding up mortgage modificati…

NEW YORK — The federal government keeps bailing out the financial industry, but some working in that world seem reluctant to do their part, even if that...

LOAN MODIFICATION HELPS WITH THE THREAT …

If you are anguishing over the possibility of foreclosure on your home, there is an option that can help save your home and dignity. With all the...

Lack of Legal Help: One More Way the Dec…

As bad as America's foreclosure crisis is -- and it's very bad, with over 300,000 homes receiving a foreclosure filing every month -- it's being made even more devastating by...

Obamas Foreclosure Plan

As you may have already heard, President Obama released information about his new foreclosure plan for homeowners with details to follow on March 4th. This is part two of the...

Loan Modification Advice

If you need help understanding your option of taking advantage of the loan modification process, the help is available to you everywhere. The process is quite tricky and...

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If you need help understanding your option of taking advantage of the home loan modification process, the help is available to you everywhere. The process is quite tricky and it is highly recommended that you do indeed seek legal advice before signing on the dotted line, in order receive the most efficient and cost-effective modification to your mortgage payment.

Where do I get Advice
There is advice all over the web on how to receive a loan modification; some of this advice is quite helpful, while some is quite dreadful. There is also the opportunity to hire a professional service that will help you go through the paperwork and work with the lender to help you get all the benefits that you deserve, due to a hardship. Loan modification is a process that must be understood completely and thoroughly. This article can actually offer you an insight on the process of loan modification and tips that will better help you as a homeowner save your home from the risk of a foreclosure.

Loan Modification Advice
First and foremost, it is important to determine if you are eligible for a loan modification. This requires writing a letter of hardship explaining to the lender what exactly the reason is for your late payments and the fact that you are unable to pay your mortgage. Doing a loan modification on your own requires more than just advice. Becoming educated about the process is more important. This is perhaps a good reason to hire a professional loan modification company to take part in the process. They will handle everything for you, while educating you in the progression. There is a fee charged for hiring these companies, but in turn your mortgage payment can be lowered quite a bit and professionals can even find things in your original loan papers that may prove that the lender may have broken the law during your original mortgage signing.

If you do choose to take the big leap of the loan modification process on your own, you must first contact the lender and they will lead you to the correct department, normally the loss mitigation department. You may not want to directly say that you are in the process foreclosure. We do not want the lender to think your situation is not worth their time before hearing you out. Always document anything relating to the loan modification process, every phone call and any other information you may receive during the process must be documented. Always discuss every option available with your lender, so that you may come up with the best alternative for you. It is true you will save money going directly through your lender and let’s face it, you are struggling already trying to make your payments, but professional assistance can help immensely.

No matter what direction you decide to take, loan modification will be what determines the amount of time you have in your home. If you are eligible you should act as soon as possible.

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