The most desirable solution to mortgage troubles ” assuming you tried to refinance and cant ” is to enter a loan modification program. This is becoming an increasingly prevalent way for thousands of homeowners to overcome mortgage difficulties in an unforgiving market.
The importance of doing it right. While it is possible to negotiate directly with your lender, it is generally not recommended. There are many pitfalls that can cause your modification attempts to go awry. A professional loss mitigation specialist can help you navigate through the process and ensure that you do everything right.
The reason its so important to strictly follow the lenders process is that they need to make a sound business decision. As such, they are going to review everything about your financial situation and whether or not modifying the loan will actually result in you successfully making payments in the future. If something is done wrong, it can kill your chances. We know just what the lender is looking for and the process you need to follow.
So what is it that youll need? There are many different forms that youll need to fill out. You can get those directly from our website when you apply for loss mitigation assistance. Among these forms is an application, a financial analysis worksheet and a hardship letter.
Along with the application and other forms we need completed by you, we will also send you a checklist of other items we need from you. These items may include a W-2, paystub and bankstatements. The checklist is provided so you know exactly what we will need.
We do all the negotiating for you. Getting the lender to accept the application for that modification is the challenging part. With our 20+ years of experience working with mortgage lenders under our belts, you have no need to worry. Rest easy knowing that your personal loss mitigator is on the job.
What happens after a loan modification? A loan modification is permanent. A new contract is drawn up with the revised terms and you and the lender will be expected to adhere to the new conditions.
We are available anytime to assist you. Contact us on the web at http://yourfinancialsolution.com/contact.htm or pick up the phone and give us a call at 877.246.8788. Have a great day! The team at YourFinancialSolution.com
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