For Homeowners Who Want To Know Everything About Doing Their Own Loan Modification “Right The First Time”— Even If You’re Totally New or already started the process, “My Loan Modification Manual” is the “Best” investment you will make.
Introducing —
“My Loan Modification Manual”
Why Pay a Lawyer Thousands of Dollars for something you can do yourself?
Order Our Kit Today! and You will Learn the Secrets of A Successful Loan Modification!
1(866) 569-MODKIT
1(866) 569-6635
Our Training Kit Include!
1. MY LOAN MODIFICATION WORKBOOK
2. AUDIO CD-AUDIO BOOK- TRAINING
3. ALL NECESSARY FORMS
In Your Loan Modification Workbook We Will Explain:
Workbook:
Table of Contents:
The Focus of My Loan Modification Manual
Chapter 1:LOAN MODIFICATION / HISTORY |
|||
 |
|
||
| |
|
||
| |
|
||
| |
|
||
Chapter 2: |
|||
| |
LOAN MODIFICATION / DEFINED | ||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
| |
UNDERSTANDING THE OBAMA HOME AFFORDABLE MODIFICATION PROGRAM | ||
| |
|
||
| |
|
||
| |
|
||
Chapter 3: |
|||
| |
LENDER’S OPINION OF BORROWERS | ||
| |
|
||
| |
|
||
| |
THE BANK’S TREATMENT OF LOAN MODIFICATION APPLICANTS ASKING FOR HELP – BORROWERS ON-TIME VS. THOSE THAT ARE DELINQUENT | ||
Chapter 4: |
|||
| |
YOUR LOAN MODIFICATION PACKAGE | ||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
| |
|
||
Chapter 5: |
|||
| |
RESOURCES & PARTICIPATING LENDERS | ||
| |
COMPANIES THAT RECEIVED LOAN MODIFICATION INCENTIVES FROM THE GOVERNMENT | ||
| |
SUPPLEMENTARY RESOURCES | ||
Chapter 6: |
|||
| |
GUIDELINES FOR THE HOME AFFORDABLE MODIFICATION PROGRAM |
In Your Loan Modification Audio CD We Will Explain:
| |
LOAN MODIFICATION EXPLAINED. |
| |
ORIGIN OF THE HOME AFFORDABLE MODIFICATION PROGRAM |
| |
HOME AFFORDABLE MODIFICATION PROGRAM VS TRADITIONAL MODIFICATION |
| |
OBAMA’S HOME AFFORDABLE MODIFICATION PROGRAM EXPLAINED |
|
THE HAM PROGRAM: HOME AFFORDABLE MODIFICATION PROGRAM GUIDELINES HOME AFFORDABLE MODIFICATION PROGRAM DETAILED GUIDLINES  |
| |
THE BANKERS VIEWPOINT OF DELINQUENT BORROWERS |
| |
AVAILABLE OPTIONS IN A LOAN MODIFICATION |
| |
What will cost you less in today’s market: Modification vs. Refinance |
| |
When to consider Modification vs. Traditional Refinance |
| |
Why and when should I decide to Refinance or Modify |
| |
Why does the banks participate in loan modification. |
| |
Why there is such an increase in loss modification |
| |
Road to foreclosure; how long is the process |
| |
Loan Modification process explained |
| |
A look at Loss Mitigation /Home Retention Departments; things to consider |
| |
Talking to the representative. The Proper Way to Deal with Your Loss Mitigation Department. |
| |
Negotiating you loan modification. |
| |
Bank’s requirement for modifying a loan. |
| |
What Banks Are Looking for to Grant a Loan Modification …… 56 |
| |
Submitting you proposal |
| |
Follow up conversation with your lender |
| |
What to do if I’ve been turned down |
| |
What to do if my request for Principal Balance is Denied |
| |
Significance of Interest Rate Modifications |
| |
Lengthening of Amortizations |
| |
Principal Balance Reductions |
| |
Forbearance to Modification |
| |
Audio training of phone interview with customer service. |
| |
Audio training of phone conversation with loss mitigation and your assigned loss mitigation negotiator. |
| |
Audio training negotiating you loan modification with your assigned negotiator |
| |
Audio training of making follow up calls to the loss mitgation department follow up on progress and process status for your loan modification. |
| |
Audio training rejecting loan modification proposal offer from your lender |
| |
Audio training on accepting a loan modification offer from your lender. |
“My Loan Modification Manual was very useful, the manual gave me the details I needed to complete my Loan Modification. I was able to reduce my mortgage by half. I LOVED the course — well-structured, well-presented, and PACKED with great content!”-Cassatta Marcy, Port St Lucie, Florida |
“My Loan Modification Manual exceeded my expectations, the information was very thorough which helped me complete my modification and save thousands”.-Jerry Rosier, Atlanta, GA |
“It was not long ago that my back was against the wall because I could no longer afford to pay my mortgage. But with the help of My Loan Modification Manual I was able to follow their easy step by step direction and negotiate with my lender. Now I’m making trial payments that I can afford while I wait for the Loan documents from my lender to come. Thank you”.-Jaime Tillery, Anaheim, CA |
Here Are Some Pros and Cons on a Loan Modification
PROS:
- The Majority of Home Owners Will Be Approved By Their Bank For A Loan Modification Lenders do not want to lose on their investments, so they will generally work with you. But, you have to be proactive in contacting them and be persistent. Do not wait until the last minute. The quicker you contact them and explain your circumstances, the quicker you can get your application under way.
- Help is Available! President Obama’s $75 billion Making Home Affordable (HAMP) program was introduced on the 4th March 2009. Loan modification involves adjusting the terms of a mortgage agreement to make the monthly payments more affordable for the troubled homeowner. A mortgage modification may consist of extending the term of a loan, a reduction in the interest rate, and or reducing the outstanding balance.
- Change Is Good! The loan modification process may change in the terms of your loan, meaning lowering your interest rate, and lengthening the term of your mortgage. If like many, you are unable to refinance your ARM loan, this is a viable solution.
- Lower Mortgage Payments. Extending the term, reducing interest rates, or reducing the outstanding mortgage balance will help reduce monthly payments to an amount that the homeowner can afford.
CONS:
- Loan modification consultants tend to charge high fees. Consultants charge between $700 and $7,000 to help homeowners modify their mortgage. My Loan Modification Manual will teach homeowners do it themselves. Lender recommend that homeowners take charge on their loan modification process and avoid paying unnecessary fees, money they will need to get back on track.
- Loan modifications is a lengthy process. Loan modifications take a long time to complete, many homeowner complain that they waited as much as 6 months before their loans were modified.
- Must Have A High Debt-to-Income (DTI) ratio You must have a high debt to income ratio. Your mortgage company will need records showing your monthly expenses as well as you income. Do keep in mind that a request for a loan modification will not always be granted.
- Homeowner must stay on top of the loan modification process. Homeowner must stay in constant communication with their lender during the modification process and send updated documents when requested. If request are not met timely, the file may be canceled and the process may have to be started again.
Frequently Asked QuestionsQ: What is foreclosure? A: Home foreclosure is a process by which a lender reposesses a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, loss possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state. Q: How do we stop foreclosure? A: You can stop a foreclosure on your home with a Loan Modification. My Loan Modification Manual covers step by step on how to complete your own loan modification. Homeowners dealing with a looming home foreclosure need to consider the option of loan modification. Homeowners that have fallen behind on their monthly payments for a significant period of time may be feeling the pressure from their lenders via letters and telephone calls asking them to bring their payments up to date. The loan modification process involves working with your lender to make changes to the terms of your home mortgage. These changes may involve extending the term of the loan or spreading the amount of arrears over a designated period of time or even the life of the loan. Q: Do I have enough time to stop my foreclosure? A: Up until the foreclosure sale occurs there is still hope. Your best option is to take action immediately to stop foreclosure before it goes too far. Purchasing this manual will guide you and give you the necessary tools to complete this process. Q: If Approved, how are the loan terms decided? A: Your lender decides how much you can afford to pay each month based on your debt to income ratio. While this is a simplistic approach which does not encompass all factors, it is the best financial test of a loan modification. Q: Can I get a loan modification if my credit is bad? A: Loan modifications are not based on your credit like a typical refinance. Also loan modification is a process to cut further loss to the lender. While you now have to meet stringent standards to obtain a new loan or refinance, loan modification standards are entirely different. The sole focus is ‘how your lender modifies your loan to make you loan payments affordable. This provide a return on the lenders investment (although less) and save them from losing even more money through foreclosure?” Your credit score is not an issue here; your ability to repay is. Q: How will a loan modification my credit? A: Generally speaking, a loan modification does not hurt an individuals credit score. Many people who undergo a loan modification do so because they are in some sort of financial distress. In many cases these individuals have defaulted on their mortgage payments, and possibly other debts. When someone falls behind on their mortgage payments or other debts they typically see a drop in their credit scores. Q: Why are we different from other Loan Modification do it yourself programs? A: The information within this Loan Modification Manual was created by licensed loan modification experts who deal with lenders everyday, so they know intimate detail that will help you get a better result. |
Best regards,
Joseph Bernabe
MyLoanModificationmanual.com
P.S. Thank You for taking the time to visit MyLoanModificationManual.com,we are looking forward to helping you learn all the secrets of completing your loan modification application successfully.
This information is important to you as a consumer regarding your legal rights:
Terms of Use | Disclaimer | Privacy Policy
Morgan Marie Corporation
10380 SW Village Center Drive Suite 317
PSL,Florida 34987 
1(866) LOW-MODKIT
1(866) 569-6635
