For Homeowners Who Want To Know Everything About Doing Their Own Loan Modification “Right The First Time”— Even If You’re Totally New And Just Starting Out, “My Loan Modification Manual” is the “Best” investment you will make.
Introducing —
“My Loan Modification Manual”
Why Pay a Lawyer Thousands of Dollars for a Loan Modification?
Order Our Kit Today! and You will Learn All the Secrets of A Successful Loan Modification!
With your Do It Yourself Loan Modification Manual! YOU WILL RECEIVE!
1. A WORKBOOK 2. AN AUDIO CD TRAINING 3. LENDER SPECIFIC LOAN MODIFICATION FORMS
In Your Loan Modification Workbook We Will Include:
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STEP-BY-STEP GUIDE IN FILLING OUT ALL LOSS MITIGATION REQUIRED FORM WHEN REQUESTING FOR LOAN MODIFICATION. |
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HELP CALCULATE HOUSEHOLD INCOME AND EXPENCES TO PREPARE THE INCOME VS EXPENSES WORKSHEET. |
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PREPARE A FINANCIAL STATEMENT |
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DEVELOP A LOAN MODIFICATION PROPOSAL |
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GIVE EXAMPLES AND HELP PREPARE A LOAN MODIFICATION COVER LETTER |
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GIVE EXAMPLE AND HELP PREPARE A LOAN MODIFICATION PROPOSAL |
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PREPARE LOAN MODIFICATION WORKSHEET |
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GIVE EXAMPLES AND PREPARE HARDSHIP LETTER |
In Your Loan Modification Audio CD We Will Explain:
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LOAN MODIFICATION EXPLAINED. |
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ORIGIN OF THE HOME AFFORDABLE MODIFICATION PROGRAM |
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HOME AFFORDABLE MODIFICATION PROGRAM VS TRADITIONAL MODIFICATION |
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OBAMA’S HOME AFFORDABLE MODIFICATION PROGRAM EXPLAINED |
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THE HAM PROGRAM: HOME AFFORDABLE MODIFICATION PROGRAM GUIDELINES HOME AFFORDABLE MODIFICATION PROGRAM DETAILED GUIDLINES |
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THE BANKERS VIEWPOINT OF DELINQUENT BORROWERS |
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AVAILABLE OPTIONS IN A LOAN MODIFICATION |
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What will cost you less in today’s market: Modification vs. Refinance |
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When to consider Modification vs. Traditional Refinance |
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Why and when should I decide to Refinance or Modify |
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Why does the banks participate in loan modification.
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Why there is such an increase in loss modification |
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Road to foreclosure; how long is the process |
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Loan Modification process explained |
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A look at Loss Mitigation /Home Retention Departments; things to consider |
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Talking to the representative. The Proper Way to Deal with Your Loss Mitigation Department. |
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Negotiating you loan modification. |
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Bank’s requirement for modifying a loan.
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What Banks Are Looking for to Grant a Loan Modification …… 56 |
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Submitting you proposal |
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Follow up conversation with your lender |
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What to do if I’ve been turned down |
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What to do if my request for Principal Balance is Denied |
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Significance of Interest Rate Modifications |
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Lengthening of Amortizations |
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Principal Balance Reductions |
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Forbearance to Modification |
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Audio training of phone interview with customer service.
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Audio training of phone conversation with loss mitigation and your assigned loss mitigation negotiator. |
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Audio training negotiating you loan modification with your assigned negotiator |
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Audio training of making follow up calls to the loss mitgation department follow up on progress and process status for your loan modification. |
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Audio training rejecting loan modification proposal offer from your lender |
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Audio training on accepting a loan modification offer from your lender. |
“My Loan Modification manual was very usefull,I was able to modify in 2 months and keep my home. “I LOVED the course — well-structured, well-presented, and PACKED with great content!-Cassatta Marcy, Port St Lucie, Florida |
“These Guys Delivered Far More Than They Promised. They reviewed all aspects of completing my loan modification successfully, I was given the tools and the know how to re-negotiate my loan.”-Jerry Rosier, Atlanta, GA |
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 Most lenders do not want to lose your money, 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. Try to lock in an interest rate before your rates increase. Loan modifications are a good option, and you could save your home from foreclosure.
- Help is Available! President Obama’s $75 billion Making Home Affordable (MHA) plan was introduced on the 4th March 2009. Loan modification involves adjusting the terms of a mortgage agreement to make house payments more affordable. A mortgage modification may consist of extending the term of a loan, a reduction in the rate of interest, changing the loan type or even reducing the outstanding balance. Qualifying homeowners will receive assistance until January 31, 2012.
- Change Is Good! This process is a change in the terms of a home loan, meaning lowering your interest rate, lengthening the term of your mortgage, or a different loan entirely. If like many, you are unable to refinance your ARM loan, this is a viable solution.
- Lower House Payments. Extending the term, reducing interest rates, switching loan type or reducing the outstanding mortgage balance will help reduce house payments.
CONS:
- Loan modification companies tend to charge high fees. New Loan Modification Regulations prevent companies from charging high upfront fees, making a Do It Yourself Loan Modification the homeowners best chance for Foreclosure Prevention. With the Obama Administrations HAMP (Home Affordable Modification Program) failing to successfully get lenders to modify home loans, and in light of the new heavy restrictions imposed on companies, it is recommended that Homeowners take charge of modifying their loans with the lenders themselves.
- Loan modifications are time-consuming. Typically, your lender will make you wait 30-45 days before your ARM is up in order to even submit an application. And, just because you submit an application does not mean you’ll qualify for a loan modification. Loan modifications take a long time to complete, and you may end up falling even further behind on your payments. This could seriously increase the threat of foreclosure and disqualify you from a loan modification. If the lender feels they will take too big a loss, they won’t approve your proposal.
- Must Have A High DTI! 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.
- Credit score.A mortgage modification reduces house payments, but reduces a FICO score. However, the majority of homeowners will have already missed repayments and the effect on a credit score is better than the majority of short sales and is always better than mortgage foreclosure.
Frequently Asked QuestionsQ: What is foreclosure? A: Home foreclosure is a process by which a lender regains 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, losing all 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, which determines how long the foreclosure process can take. Q: How do we stop foreclosure? A: You can stop a foreclosure on your home with a Loan Modification or Loan Restructuring.In MyLoanModificationManual we covered step by step 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 in 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 up to date their payments. The process of loan modification involves working with the original lender to make changes to the terms of the existing 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.You’re best option is to take action immediately to stop foreclosure before it goes too far.Purchasing this Valuable Manual will guide you and give you the homeowner all the necessary tools to complete this process. Q: If Approved,how are the new loan terms decided? A: Your lender decides how much you can afford to pay each month based on a 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. Loan modification is a process to cut foreclosure 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 can your lender can modify your loan so you can make loan payments, provide income to the bank and save the bank from losing money from 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 bankers one on one on a daily basis. |
Best regards, 
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 (772)-621-2089