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When you do a search online or in the phone book for companies that offer loan modification service, you’ll find that there is no shortage of companies and law firms offering this service. Some of these firms will honestly try to help while others are just preying on those who are desperate. Of course, you’ll need to do your due diligence before hiring a company and there are a few things you’ll need to look out for when talking to a sale rep for any of these firm.  Remember, sales rep are simply trying to make a sale so they can make their commission or meet their quota. They are not the same individuals that are handling your file. Therefore, they will say everything you want hear to make the sell. If you are shopping to find the best firm to help your situation, WATCH OUT! You could be sold to the biggest liar…the one that promises you everything. You could be out $3000+ with little or no chance of getting a modification.
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What homeowners go through while waiting for their permanent modification…

This article tells it all: Chase Modification Process

Unfortunately, what this couple has already gone through is exactly what hundreds of thousands of homeowners across America are going through as we speak. The sad thing about it is that Chase may not be the worst at delaying the process. This is happening to virtually every homeowner, regardless of who they pay their mortgage to. Bank of America may actually be among the worst banks in prolonging the modification review process under the Obama plan or for any modification program for that matter. Bank of America currently has the highest number of eligible borrowers  for the Obama Plan. Yet, as of early December of 2009, they’ve only modified 95 homeowners into a permanent modification. To put things into perspective, Chase has modified over 4,000 homeowners into permanent modifications under the Obama program during the same time period. So, what’s the problem with Bank of America???
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The secret to a loan modification is how you present the modification package to your bank.

If you are considering hiring a firm to help you with a loan modification or you are planning on calling your bank to begin the loan modification process, you need to read this first!

You may need to take matters into your own hands. But, not without much needed information and consultaion. It’s important to know that providing your bank with too much or too little information will surely have a negative effect on the outcome of the loan modification.

LoanMod-Approval will explain the loan modification process with you and show you exactly how you need to put a modification application together that will give you the best chance of getting an approval for an affordable loan modification

Here is a list of just a few offers banks are approving based on the carefully packaged application.

If you need payment relief as quickly as possible or, you need to get out of foreclosure, then you need to take matters into your own hands and start the process as soon as possible. Don’t wait until it’s too late. Otherwise, you will get to the point of no return and your lender will have the authority to foreclose on your home.If you decide to hire a company to help you, read this first and do your research. Many firms will charge you in excess of $2000 to just start the process. You should at least start the process with your bank first.

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Should I hire a loan modification company or do the loan modification myself? The answer is, YES!

Let me explain…

First, lets quickly go over what you can expect when hiring a loan modification company or a loan modification law firm:

1. They will collect $2000 to $5000+ from you upfront before beginning the process

2. They will ask for all of your personal information

3. They will fill out the modification application form provided by the lender

4. They will put the modification package together and forward the package over to your bank

5. They will call your bank periodically to check status until the modification has been completed

6. They will close your file once the bank approves or denies the modification

Sounds simple, doesn’t it? Keep in mind, the most important part of the process is how to fill out the application and how to put the package together. But, you are probably asking yourself “I don’t know anything about loan modifications, how can I do it on my own”?

Aurora Loan Modification

Aurora Loan Modification

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