Loan Modifications Only Succeed By Hiring Experienced People That Have Knowledge Of Mortgage Lending And Underwriting!

Have you missed a few mortgage payments? Are you ready to get caught up with your lender? A loan modification may be right for you. However, most homeowners don’t know how to successfully get a loan modification.

Why? Loan modifications only succeed when they are done properly. When we say, “done properly,” we mean, done by people with experience in lending and mortgage underwriting.

People with experience in lending know how the system works. They also know the proper channels to go through to get a successful loan modification. The average homeowner lacks this knowledge. This is why most homeowners seeking to get a loan modification are unsuccessful.

The earlier you can chat with someone about your particular situation, the easier it will be to get a loan modification. If you are in foreclosure, you can still get a loan modification. However, most attorneys know the law. They don’t understand the nuances of mortgage lending or mortgage underwriting. An experience mortgage professional can help you with a relief plan. This way you’ll be able to understand all your options and get a loan modification that benefits you. 

There are times when it makes sense to apply even if you know you might be denied. It could buy you more time in the house. It may even allow you more time to improve your household income. Sometimes, you may want to apply just to know that you tried everything you could to save the home.

We Will Review All Your Financial Documents Before We Submit the Application

Our team collects and review your full financial package BEFORE we submit the loan modification to the lender. We help you understand how we will be present your income and expenses so that your debt to income ratios look good.

If we see anything that may cause a problem, we will discuss how to resolve the problem before the loan modification packet is submitted. If you submitted your package on your own, we can step in and make changes if need be. However, we will probably suggest that we start over.

All Of Your Non-Traditional Income Has To Be Presented Correctly 

Are you are self-employed or get paid solely on commission? Then, the modification process is going to be hard for you to navigate on your own. Why? The banks require unconventional income to be presented in a specific way. Only experienced mortgage underwriters understand how to present it. 

Our Loan Modification Experts Will Review Your Loan Modification Packet With You Before We Submit It To The Lender

We will draft your application for you. We will ensure that every box is checked and every line completed correctly. This will expedite the underwriting process quickly in the fastest amount of time.

We Help You Draft Your Hardship Letter Passes The Lender’s Criteria For Validity 

We will have you write a draft hardship letter explaining your hardship. Then we will write a professionally sounding hardship letter tailored to your situation. This letter directly addresses the bank’s needs and maximizes your application’s success.

We Negotiate With The Bank Until We Have Log Term Solution 

Once the application is submitted, I complete the negotiation with the bank so you don’t have to talk to them. My job is to be on the phone daily, in the trenches with the representatives, underwriters and supervisors making sure your file is moving forward.

Our Loan Modification Experts Offer You TPP Management 

Lenders tend to put homeowners in a 3 month trial modification agreement. This is called a Trial Payment Plan or TPP. 

Basically, your lender wants to test you. they want to see if you can successfully make payments for three months. After your TPP, you will have to get final documents FULLY EXECUTED in order for your modification to be fully executed.

Lots of things can go wrong between the TPP and final modification documents. We monitor your loan modification closely to ensure this process goes forward smoothly.

Only Experienced Mortgage Professionals Can Help You With An Appeal If Your Loan Modification Is Denied

Most loan modification applications are usually denied because they were not stacked correctly or had missing documents. Usually, it’s stuff that can easily be corrected during an appeal. However, sometimes appeals can get tricky and require a nuanced presentations only an experienced underwriter can bring to the table.

If you need more information about how loan modifications work, call us at 888.737.6344. We can also refer you to licensed loan modification expert.

Read More About Loan Modifications Below:

New York Loan Modifications: What You Need To Know!