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Homeowners in California and in a handful of other states could be injected with some much needed help from the Obama Administration. Recently President Obama announced a $1.5B program to help stop the foreclosure bleeding in some of the hardest hit states in the nation. My initial thought when I first saw the headline for this article was…more money for the banks! On the contrary, this looks more like a bailout for the borrowers. Read more…
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Loan Modification Articles Helpful links
  • Homes Sarasota Look To "Obama Plan" To SAVE Homeowners Facing Foreclosure! Homes Sarasota continue hitting the market, as beleaguered Sarasota homeowners rely on "HAMP" to save their homes from foreclosure. [/caption] The Home Affordable Modification Program (HAMP) is NOT working the way politicians claimed it would...
  • Wells Fargo Represented At Loan Modification Hearing (NYSE: WFC) The House Committee on Oversight and Government Reform held a hearing last week to discuss whether or not the processes used by lenders to implement HAMP and other loan modification programs are effective in helping...
  • Legitimate Help for Homeowners in Trouble Look on the television, listen to the radio, or read countless print ads and you will see many promotions that advertise the various companies promising help with mortgages and foreclosures. Sadly for consumers, not all...
  • Five Yoga Principles Here is a look at the five most important principles of yoga. These five yoga principles are absolutely essential to the practice of this ancient art. If you want to get the most out of...
  • The Dangers of Financial Illiteracy Financial illiteracy is a growing problem throughout the world, and as the recent housing crisis has brought to light, it can have dangerous consequences. There are a few basic financial tips that everyone can use...

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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Loan Modification Articles
  • Obama Program Report CardObama'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...
  • blog traffic exchangeLoan Modification: Mortgage relief or grief? 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...
  • bank-of-americaSteps 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...
  • blog traffic exchangeHardship Letter 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...
  • mortgage ratesMortgage rates vs modification rates What interest rate are you qualified for? Well, that depends on whether you are trying to refinance or get a loan modification. I've spoken to many borrowers that are pursuing a loan modification because they...
Helpful links

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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Loan Modification Articles
  • blog traffic exchangeLoan Modification: Mortgage relief or grief? 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...
  • Obama Program Report CardObama'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...
  • MHA-trial-planMHA 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...
  • blog traffic exchangeTake matters into your own hands! But, how do you show the bank you need a loan modification? 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...
  • blog traffic exchangeLoan 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...
Helpful links
  • Shopping Professionally pt 2 One of the best ways that you can save money is to shop professionally, which is learning how to develop skills and talents in shopping that allow you to shop smarter and save more money...
  • The Little Book That Builds Wealth By Pat Dorsey Wiley Publishing has put out a series of “Little Books” but this one may be the most important. If you are looking for ways to logically increase your wealth and secure your financial future, this...
  • 9 Steps for Establishing Credit Credit is the catch all term for the act of lending money. It can take the form of a credit card, in which the lender buys the things you want and you pay them back....
  • Inquiries Are As Important as Credit Grade This is a guest post from a regular reader pjz... The following table shows zero DQ loans by inquiries. 0 DQ inquiries 0 1 2 3-4 5-7 8-999 1+  month late & default 48 56...
  • Finding and Buying Health Insurance When we first moved to North Carolina a couple years ago, we decided we needed to get short term insurance to cover us until I qualified for insurance with the job I took. Health Insurance...
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