A loan modification is often times the most desirable solution for those homeowners for whom refinancing is not an option. The modifications popularity has exploded as a solution for those homeowners facing financial difficulties in the current market.
Doing it right carries fantastic weight. While the option for the homeowner to try to achieve a loan modification directly with the lender is available, this is generally not nearly as successful as having a representative handle the details for you. We act as your personal loss mitigation specialist and can assit you in navigating through the process and ensure everything has been done right.
The reason its so vital to strictly follow the lenders process is that they need to make a sound business choice. As such, they are going to review everything about your financial situation and whether or not modifying the loan will really result in you successfully making payments in the future. If something is done incorrect, it can kill your chances. We know just what the lender is looking for and the process you need to follow.
So what paperwork do we need from you? There are a few forms we will need completed by you. Upon receiving your request for our loss mitigation services we will get you a personalized packet out to you that will contain an application, financial analysis worksheet and a hardship letter.
In addition to the forms, you will need to gather various documents such as W2s, bank statements, recent pay stubs and other related information. Well make sure you have a complete checklist among your forms so you can keep track of everything you need to do.
We negotiate on your behalf. The hard part is getting the lender to accept your application for a loan modification. Fortunately, you can leave that to us and our 20+ years of experience working with mortgage lenders. You can rest assured that a team of skilled professionals are working on your behalf when you enlist our services.
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.
Feel free to contact any member of our staff to go over any questions you may have. We are available online at: http://yourfinancialsolution.com/contact.htm or by phone at (877)246-8788. Have a wonderful day! From the team at YourFinancialSolution.com