Joe's Blog

Generally speaking, lenders are only going to consider loan modifications with people who are in jeopardy of foreclosure and where the value of their home is worth less than their current loan.  Even this fact does not insure that the lender will work with you.  First of all, lenders are inundated right now and are far less motivated in most cases to modify than the average client.  Also, the process is complicated by the fact that many lenders do not own the loans but are merely servicing the loans for others.  In my opinion, it can be next to impossible for the average person to try and get their loan modified by themselves.  For most people, they need the help of a loan modification company who can work on your behalf.  These firms specialize in this and can act on your behalf with the lender.  Reputable firms will review your case without charging you and attempt to provide you with the information necessary to see if a potential modification may be attainable for you.  The first step is to fill out a financial checklist and then to have a consultation.  Please contact me and I can give you more specifics on this process.