| Were you denied a loan modification? Don't worry, it | | | | questions. It gives you tips and suggestions along the |
| happens to many homeowners, even myself. There | | | | way and even has lender specific programs (besides |
| is definitely still hope to get your loan modification | | | | HAMP) in the system. There are over 110 lenders in |
| approved. | | | | the system right now and more being added. |
| If you were like me, you called your lender and asked | | | | This will tell you if you qualify for the hamp program or |
| to speak with the "loss mitigation" department or | | | | not. If so, you can then choose to print out a 18 page |
| something similar. Once on the phone you asked "I'd | | | | application that you just fax into your lender. Follow |
| like to see if I qualify for a loan modification". Once | | | | up with some phone calls and you are done. Many |
| transfered to the right department, you were then | | | | people that were denied previously have done this and |
| speaking to an individual who started asking you a | | | | have received a successful loan modification. For the |
| series of questions... | | | | custom 18 page report (tailored to your specific lenders |
| "You owe $51,890, how would you like to pay for that | | | | guidelines) it is only $150. The software is better than |
| today?"um, I can't even come close. | | | | most modification companies use and cose a |
| "Ok, so you'd like to see about a loan modification, | | | | FRACTION of what they will charge you. Plus, if the |
| correct" | | | | software tells you that you are approved for a hamp |
| "yes" | | | | modification and you still get denied, you get a 100% |
| "How much is your total monthly income?" | | | | refund of your $150. This is the way to go in my |
| "ah, I'd say about $4,500?" | | | | opinion. Its not a company and it's not an ebook, it's |
| (then they go over expenses...which are way more | | | | software that prepares your hamp loan modification |
| than I said I make} | | | | for the greatest chance of approval. |
| "Im sorry, you do not qualify for a loan modification at | | | | See if you qualify |
| this time. Have you thought about a short sale?" | | | | Print out the application |
| "CLICK". | | | | Send it in. |
| And that's that. Well, the big mistake was not | | | | Check out the news story on the woman who was |
| preparing my financials (income vs. expenses) before I | | | | denied a loan modification and used thier software to |
| called my lender. I thought I should say some low | | | | get approved on their website as well. Very helpful |
| amount of income (my mortgage payment was | | | | information. |
| $3,000) to qualify. | | | | The other way to go is with modification companies. |
| In reality, you have to be able to show that you can | | | | There are companies that will get you a loan |
| afford to pay a new, lower payment to get | | | | modification before you pay anything (no upfront |
| approved. There is a fine line between approval and | | | | fees). I have spoke with the companies on THIS |
| denial. Even $100 can make a significant difference. | | | | website and the first one says his record is 22 minutes |
| To get it right, there are a couple options. | | | | for getting a loan modification approved. Knowing |
| 1st, go to Hamp Programs and click on "click here to | | | | what you are doing makes a huge difference in the |
| get your free hamp report now". | | | | modification world. |
| It is free for one full year. You just register online and | | | | If you have been denied a loan modification, I hope |
| the software will walk you through the appropriate | | | | these two options will help you to get approved. |