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Blog Update: Loan Modification Scams
Loan modificaiton has gotten a lot of positive as well as negative press lately. There have been many ...
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Blog Update: Lender Accountability
Sometimes it seems like lenders are totally unresponsive to borrowers regarding loan modifications. The HUD ...
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Author's Desk
Communication is critical DO NOT IGNORE THE CALLS FROM YOUR LENDERS. Pick up the calls and explain that you are trying to start the loan modification process. It is important to keep the communication going. Lenders want to speak with you and help. With the economy in it's current state and with bail out dollars flowing, this is the best time to keep the communication going. Lenders are overwhelmed with thousands of foreclosures and they will do anything within reason to keep you in your home. It all starts with you talking to them. Getting that live person on the phone is key. Some companies will start and finish a loan modification with just one phone call if you are prepared with the correct information, and they have a program available for your situation.
Why lenders want to modify your loan? The reason for a lender to accept a loan modification request is to continue the loan and the stream of interest and servicing revenue. But, they do want to qualify you and see you make enough money and be assured that you can be a good candidate. You have done everything possible to fit in their square pegs by using this program - so, stay confident
Be polite. Be courteous. The person you are speaking to is key to your modification success. They may or may not be the person directly handling your modification. Arguing or yelling with the person on the phone as this may hurt your chances of a successful modification. If this is unavoidable, simply end the conversation, take some time to yourself to think of ways to prevent that from happening again, and call back.
 
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Disclaimer: This website is not sponsored nor endorsed by the Federal government's new loan modification program or any other government program. We are not a mortgage lender and do not provide loans or refinancing. The trademarks included on this page are property of their respective owners, who have offered no endorsement of this product. The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. Readers who have particular questions, including but not limited to, real estate financing, foreclosure, or legal, should seek the advice of an attorney or accountant, as applicable. By submitting your contact information, you are consenting to be contacted by foreclosure consultants by telephone, email, or other communication medium even if you have previously listed yourself on any state or federal Do-Not-Call List. Please note that we may receive compensation from the foreclosure consultants or third parties. By providing the products or services available to You to perform your own loan modification, the Company is not creating any legal or fiduciary relationship and will not and does not provide financial, tax or legal advice. Please see our Terms and Conditions for more details. The lender logo are for illustration purposes only. All lenders are NOT included here. Each logo might be a registered trademark of the respective lender. This website does not have any business relationship with those companies and also they do not endorse the products available here. ALL PRODUCTS ARE ELECTRONIC VERSIONS. The CD, Book and CD Box shown above are for illustrative purposes only.
 
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