Loan Modification

Hello Ms. Savage, Even though I’m using a lawyer for my loan modification, I’m very curious of what KEY Points banks, and/or Loan company’s look for in granting a loan mod. It seams so many people who have tried, have been denied. I friend who’s a realtor mentioned that most people usually give up. I’m Not giving up. So any Major Key items that Banks or Loan company’s look for to increase my chances to grant my loan modification would be greatly appreciated. Thank You Very Kindly. D

Terry Says:  Honestly, I’m a bit concerned that you are paying an attorney to help you with a loan modification.  There are several FREE government programs designed for people like you — although I don’t know the details of your mortgage, your current payment status, the value of your home compared to the amount of the mortgage.

So let me direct you to this website:  http://www.makinghomeaffordable.gov/pages/default.aspx.

Or call  888-995-HOPE (4673) to speak with an expert about your individual situation.

I’m glad you’re not giving up.  But instead of paying an attorney you should go directly to the government’s Making Home Affordable program by using that number or website link.

And please write back and let me know what happens!