www.mtgmodexperts.com How To Get A Mortgage Modification and Prevent Foreclosure. We can help stop foreclosure by using loan modification. Log on to speak with a loan modification expert today!

  Almost every lender/servicer cautions homeowners against paying third parties to assist with their loan modification applications.  Every participating lender in the Making Home Affordable (MHA) loan modification program is capable of working directly with their borrowers to process these applications without third party assistance.  There is also free government loan counseling help for homeowners that are struggling to work directly with their lenders.  On the other hand, many of my clients first tried unsuccessfully on their own and were then surprised at how much quicker and better the results were when I was advocating for their application.  I have a Bartlett client that was told he did not qualify for a MHA loan modification by both his servicer (National City) and a government counselor.  I was able to get him into the MHA program in less than a week.  I was able to get a Des Plaines client a mortgage modification with Washington Mutual on their rental home in Florida even though rental properties aren’t even included in the MHA program.  Whichever route you go, make sure not to pay large upfront fees and that loan modification charges are for obtaining a loan modification not submitting your application.  In Illinois, make sure that any upfront fees are for retaining a real estate attorney.  If you want to explore retaining a real estate attorney to process your mortgage modification application correctly then use the free online evaluation at:  www.illinoismortgagemods.com         The auto industries 3 Billion dollar bucket of money is almost gone and mortgage servicers have really gotten their act together on participating in MHA so even the much larger 75 billion dollar bucket will tap out.  There are gotchas within MHA guidelines just like there were with Cash-for-Clunkers but qualifying candidates should come out of it with a payment at 31% of their gross income even if that means a 6 month delinquent borrower gets reset as low as 2% on a 40 year amortization!  

Get ready to discover the benefits of loan modification with Obama’s federal plan. The President and the White House administration are planning on aiding over 7 million people by modifying the terms of their loans, thus making payments more affordable. Don’t think of the loan modification plan as something you have to do but as something that you need to do. Homeowners who are facing foreclosure are expected to benefit the most from the federal plan. However, the loan modification program does not state that a homeowner has to be behind in his payments in order to qualify. The requirement is that one finds himself in a difficult financial situation and is thus unable to meet monthly payments. By offering homeowners a chance to negotiate the terms of their loans before they actually become delinquent, the loan modification plan is definitely a wise alternative. It does not cost anything to apply for the loan modification plan, so homeowners are advised to protect themselves from speculators asking fees for applications. There are a number of eligibility criteria that one will have to meet and it is understood from the beginning that not all homeowners will qualify. Pre-qualification is all about understanding the requirements of the loan modification program, calculating the debt ratio and preparing the application, thus increasing your chances of acceptance. There are two categories of homeowners that the loan modification program has targeted. The first is represented by those who do not have any problem paying their mortgage every month but whose application for refinancing has been rejected on the grounds that they had a debt larger than their property value. The second category is obviously represented by those who are standing on the verge of foreclosure and who need immediate help. Loan modification with Obama’s federal plan means exactly what you think. As has already been mentioned, the lender will agree to change the terms of your loan, making payments more affordable. Troubled homeowners will no longer have to worry about losing their homes, as foreclosure is not considered an option anymore, given the recent economic changes. Find out what it takes to qualify for a loan modification, gather the required documents and seek financial counselling if you find the whole situation to be overwhelming. An experienced advisor will be able to represent you properly in the loan modification process, explaining all the necessary terms and helping you to achieve your objectives.

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www.60minuteloanmodification.com – LOAN MODIFICATION IS IT RIGHT FOR ME? I have a free 60-Minute Loan Modification CD that teaches you How I modified 6 of my own mortgages and teach others to do the same. Follow the link above. MORTGAGE MODIFICATION TIPS: QUESTIONS #2 My loan modification application will reveal that I overstated my income on my original loan modification, what should I do? Well the good news is that you are certainly not alone, a huge chunk of folks stretched the truth on their loan apps especially on stated income loans. And while that is a serious issue, this concern should not stop you from getting help. There is plenty of blame to go around for the situation we are in; I dont think you should be on the hook for it. So let the past be the past. Resolve today take a step toward improving your current situation and saving your home. MORTGAGE MODIFICATION FORUM www.60minuteloanmodification.com

Loan Modification Buzz sits down with mortgage legend, Jeff Morris to get up to speed on home loan modification programs from the most popular lenders like Chase, Countrywide, Wells Fargo, WAMU, Citi and B of A. Get free loan modifying advice and more mortgage modification info online at…

www.seanlarue.com Your KEY To Moving Home! Sean La Rue and Jason Baker help a caller JW talk through his loan modification and what he can do.

www.mtgmodadvice.comHome Loan Modification info & advice. Get everything you need to know about Mortgage Loan Modification an Alternative to Foreclosure from Loan Modification Experts. Want more FREE information about the Mortgage Loan Modification process? Simply visit: www.mtgmodadvice.com Every homeowner that is possibly facing foreclosure needs to be equiped with the vital information needed to complete a successful loan modification. Now you can learn about the loan modification process through a series of free videos. www.mtgmodadvice.com Or you can call usl for free loan modification advice at 1-866-208-6325

Mortgage modifications are now in the spotlight due to it being the only clear exit from the nation’s default and foreclosure crisis. The government and banks need to employ rules and use them to correct all of the financial damage from the easy mortgage loan approvals for borrowers over the past six years. Before you accept a pre-packaged government or bank proposed mortgage modification that may not be the best offer you can get, you need to get a second opinion.  There are established loan modifications companies who follow the law, are endorsed by the Better Business Bureau who will give you a free consultation on your case, so it is worthwhile to seek such companies out.  I am on the side of the fence that believes the only way out of this crisis is to re-underwrite each loan originated from 2003-2007, especially mortgages that are not fully-documented 30-year fixed.  Officials claim there are approximately $7 trillion in loans made during that period from 2003 to 2007. So, borrowers should be re-underwritten to the standard 28/36 debt to income ratio back when loan defaults were less common.To make matters worse, borrowers who have excellent credit scores over 750 who came in with 20% down and have 30-year fixed loans are walking away because of super flexible guidelines back then, and negative equity.  Home values have dropped up to 75% in some of the worse hit areas in the certain states.By re-underwriting and doing principal loan balance reductions based on what a borrowers actually makes corrects the past five years. Using the 28/36 ratio, the homeowner’s has lower monthly debt payments, and is able to keep a normal lifestyle, as well as save some money.  This ratio has been proven over time. Moreover, if home values drop homeowners will be less likely to say sayonara due to them not being over leveraged to their home. There are millions of ‘Prime’ borrowers in the nation and in a town near you, fully leveraged and not saving a penny as all of their after tax income and more is going out to pay down loans on depreciating assets. Millions of homeowners are over leveraged. This concept worked well in when their home increased by $70,000 or more annually. However, when their home values drop like a meteor, the quickest way is to get rid of the largest expense, which is the upside down house. The banks and loan servicers are beginning to comprehend this as it has is experienced from people with low credit scores to “A” credit people. A pro-active approach is the best solution. However, there is a large opposition with banks when it comes to principal balance reductions due to it involving the bank accepting an immediate credit hit. The fact is unless banks re-underwrite each loan to a strict guidelines of 28/36 debt-to-income ratios the programs will not work.  If the bank simply offers you a 5-year interest only teaser rate which is the most popular loan modification, they are merely setting the borrower up for disaster later than now.  A longer term fixed rate and/or principal reduction is the answer. If you think you know how to do a loan modification yourself, you may be able to lock down an excellent deal. On the other hand, call Green Credit and let them work this out for you: