Loanmod Approval

Hardship Letter Guidelines

I’ve read several blogs on the internet on what a hardship letter is and how you should write a hardship letter for a loan modification.

A hardship letter for a loan modification should be written carefully. It is designed to quickly tell the bank what you are going through, or what you have gone through that has made your ability to pay your mortgage very difficult. You don’t want to divulge too much information about your hardship situation or your financials. Again, too much or too little information will work against you, not for you.

I’m going to keep this very general and simple.
(more…)

• Steps to a Home Loan Modification with Bank of America Loan Modifications seem to be the last hope for a number of homeowners across America who are struggling with their mortgage payments. This is ever more clear with the rising foreclosures that is expected to...
• MHA Trial Plan Most banks are currently offering loan modifications in one form or another and many are participating in the Government's MHA - Making Home Affordable modification program. Also known as the Obama Plan or the HAMP...
• Loan Modification firms don't modify loans, BANKS DO! 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...
• Obama's Program: Better or Worse? The Obama Program or The Making Homes Affordable (MHA) was introduced by Obama in March 2009. Is this program making things worse? Watch this clip. What do you think? The graph below illustrates how poorly...
• Loan Modification: Can an Ebook help? Loan Modification ebooks: A waste of money? Believe it or not, Loan Modifications may still be in it's infant stage. Most banks have only just started doing loan modifications back in 2006 or 2007 and...

• Tips for Paying Off Student Loans Right now, the student loan industry is going through one of its worst periods in decades. New Federal regulations have forced many banks to stop offering student loans, and students are being forced to either...
• My Last Income Tax Update (hopefully) I have given the readers of this blog an insight into my taxes, so I felt the need to give a conclusion to my income tax “situation” (yes, it has been upgraded to a situation). ...
• Where Do Small Businesses Go Now? Credit and money are still in really tight places, and this is absolutely no secret. What is unknown in the current economy is what small businesses should do and where they should go now. Many...
• The American Dream: 10 Ways To Make It A Reality The American dream can encompass many things. It is an idea, fostered by our forefathers, that people will be rewarded for their hard work, and advancement and recognition will be based on merit. It is...
• Sometimes 401(k)s are Better than IRAs I get really annoyed when people quote any talking heads without taking into account one’s personal situation.  I am not sure why, but I can’t stand blind faith in anyone except maybe your version of...