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Real Life Success Stories

loan modification

People usually do not just want to hear about the hypothetical success of any product or service; Americans want to see real life proof.  For example, it is one thing for people to hear about the benefits of a certain pill, but once they see real life stories of people whose lives have changed for the better, they trust it that much more.

Loan modifications are no different.  Loan modifications are a great alternative to bankruptcy, short sale or foreclosure, but without proof it is hard to see exactly what the benefits are for the average person.  Here are some real life examples of how California home loan modifications have helped average people stay in their homes in spite of serious financial turmoil.

 

 

A family of four in High Desert, CA, moved to Hesperia for affordable housing and job opportunities.  They were fortunate enough to own a property with a guest house that they were able to rent out.  First the renters of the guest house lost their jobs and could not pay rent, which meant the family lost a source of necessary supplemental income.  Then the wife’s weekly hours and pay at her job were cut in half.  After developing a medication condition, the wife’s chronic asthma led to serious medical bills, which began to topple the family’s finances.  They missed several payments of the first and second mortgages and started to receive daily phone calls from bill collectors.  However, after working with a highly trained California loan modification attorney, the family had their payments cut enough that they were able to actually put some money into savings every month.

Another gentleman was struggling to pay two mortgages, one at a 7.75% interest rate and a second mortgage that was at a 12.5% interest rate.  After negotiations, he received a combined mortgage with a fixed 6% interest rate. 

In another great loan modification success story, a couple in Modesto, CA that had an adjustable rate mortgage had their parents move in with them.  The husband became ill and unable to work, and the disability payments reduced the family income. Then, the adjustable rate mortgage caused the monthly mortgage payments to jump by $2,000 a month, with potential increases on the horizon!  After the parents fully moved in (they had lost their home) a California loan modification attorney was able to help the family get a California loan modification and save $2,000 a month.

These are just three of the tens of thousands of success stories floating around California.  A California loan modification attorney can help you out in a variety of ways, ultimately helping you stay in your home and avoid bankruptcy, a short sale and/or foreclosure.  While you may be in financial duress, your income may be half of what it was and your adjustable rate mortgage might be increasing on an almost monthly basis, California loan modification attorneys are here to help you get through whatever circumstances you have.  Loan Modification Attorneys can help you stay in your home, get an affordable mortgage payment and have some financial peace in your life.

Visit us at http://www.loanmodificationhelpcenter.org/ or call 800-359-6941.

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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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