Loans

If you are trying to get a mortgage loan modification, you are in for a fight.  It’s not as easy as one might think.  Here’s why…

Have you every wondered who to believe? Have you ever had the idea that the person you are talking to isn’t the right person who can help you, or even wants to try to help you?

When this is your house on the line, it cannot only be frustrating, aggravating and naseuous, but down right scary.

There is a og of bad information going on out there.  When you are talking about your family’s house and security, you want the right information and someone who is going to give you the straight scoop.

Instant loan modifications representatives will do just hat.  Coming from the mortgage background and working directly with the lenders and having the relationships with the mitigation department and the negotiators, they know what the bank needs to know and what the ratios and guidelines are with each lender.  It can become a game of poker.  Here is why:

Usually when you call the bank, if you are lucky enough to speak with someone who speaks English, without being re-routed somewhere else in the world, they are going to ask you a couple of questions.

First, they are going to as you if you are current with your payments or they will check your loan number to see if you are current or not.  Guess what, if you are current, you are probably not going to get any help.  I have talked to clients who thought they were doing the right thing by calling the bank first.  They tell me that they were told by the bank to call them back when they were 90 days late on the payments.  That is crazy!!

When you tell them you are current, you are then considered a performing asset.  In many cases, you must be late with your payments to trigger a series of new reports for the lenders and then your loan number will be considered a “non performing asset”.  This is sometimes needed to get co-operation, even though this is hard to believe for people who need assistance, but still have a high credit score and will do everything they can to be current with their mortgage payments.

Second question they will ask, again if you are lucky enough to get this far, is going to be about your financials.  I know it is hard to believe this, but the bank is not really your friend.  When you are asked about your financials, they want to know about your income and your monthly expenses, they already have your mortgage information.  This is a make or break point.  Most homeowners, if you pardon the expression, are “blah, blah, blah” to the lender concerning their financial information.  Then a typical response from the lender is, “Sorry, you don’t qualify because you don’t make enough, or you make too much”.

When in fact, you may qualify!

That is where we come in.  Coming from the mortgage background, we know what the guidelines are and what ratio’s the lender is looking for to move forward with the modification.  This is critical.  The is absolutely the reason, along with having the ability to speak with someone to get a file moving towards a modification, to use a professional in assisting you with getting a loan modification.

We can help determine what you may qualify for, with a phone call, get your financials over the phone and get back to you within 12 to 24 hours to discuss the best potential options with you.  Our underwriters will calculate and run the necessary calculations to determine your best options.  We are not the bank, or the tax man, but we do need to verify your finacials with copies of pay stubs, etc after an initial conversation.  We can get done what takes the bank 30 to 90 days or longer to do.  Once we have a couple of conversations and you are comfortable with our proposal you can decide on how you want to move forward. 

You may qualify for an instant type loan modification, or you may need to go with a conventional loan modification.  Either way, you will know and you will have the honest advice and you can decide what will be in the best interest for you and your family.

If you are behind in mortgage payments or not, we can help you.  We will let you know if you qualify for one or more of the rate reduction programs, some do not insist you are late on the payments.

Some have received letters stating they qualify for a loan modification, only to call the bank and then wonder why you got that letter in the first place…they are not very helpful!  Others may be insistent and persistent, calling the bank every day or every other week.  Some may have sent in all your financial information, months ago, and wonder why nothing has happend or gotten done.  The truth is everything will always need to be updated for the lender.

As I mentioned before the bank is not necessarily your friend.  When you talk to someone there, it may just be a hired helper working behind a keyboard.  Is that who you want to trust with your house?  Let’s be real here.  Some people have been successful and been able to get something done in regards to their loan modification.  More power to them.  With the rate of almost nine to ten thousand home a day going into foreclosure, do you think the banks are imploded?  Do you think they are going to be able to take care of everybody?  Do you think that having someone professionally deal with the benk on your behalf would be a smart decision?

Give us a call or contact us and get the straight scoop.  We will tell you the fastest and most productive way to get something done that will be beneficial to you and your family.  To get started with your mortgage loan modification, just visit the links below to Instant Loan Modification.

To visit Instant Loan Modifications website, just click these links: mortgage loan modification or Instant Loan Modification. They exist to get your mortgage loan modification approved.

Article Source:http://www.articlesbase.com/mortgage-articles/mortgage-loan-modification-must-read-information-for-homeowners-1327909.html