Get A Loan Modification And Save Your Home

by Michael J. Fisher on April 6, 2012

Distressed homeowners continue to be in the news. Government reports suggest things are beginning to get better for the economy, and the real estate market. However, if you are struggling with an interest rate over 5% in a sub 4% world, or have an adjustable rate loan that will eventually go up and possibly price you out of your home, or you are delinquent and need to get a re-start to save your home all this “times are getting better” news, has little comfort.

Many homeowners are not fully informed as to possible solutions to provide them an ability to receive a re-start without the crushing delinquent payments having to be repaid, or continuing on with a higher interest rate, or an adjustable rate loan that people are concerned about how they will be able to keep their homes when rates increase, and they eventually will increase.

There is loads of news related to how low the interest rates are, and that now is the time to refinance into a lower fixed rate loan. And that is certainly correct advice. But, what do you do as a homeowner if you do not have great, or at least good credit, are behind on your mortgage, or do not have enough positive equity in the house, or just cannot qualify for a refinancing. That leaves you with only one avenue for a long term solution that assures borrowers of keeping their home long term.

One of the long term solutions available is a Loan Mod. This solution also has pitfalls for the average homeowner. Many people have already been rejected by their lender for a modification. And yet others believe they just can’t qualify for a loan modification, and have never once tried. Even worse, some people have been scammed by make believe law firms offering assistance if only the homeowners will first send out thousands of dollars in advance. A Law Office receiving a retainer in advance is not necessarily harmful if the homeowner actually receives the Attorney’s full effort for a modification. However, too often that effort has been weak to non-existent.

Sending thousands of dollars to a Law Firm half way across the United States can be risky.

Getting a loan modification can be done. It is not impossible to accomplish, but a Borrower does need to know exactly what, and how, to put together their documentation package to apply to a Lender to successfully be accepted for a loan modification. If it is not exactly as the Lender wants it, you will not be approved. The question is, how does the average homeowner know what to include, and how to gather such a package together? My suggestion is they have to find the correct information and put in some effort into getting informed as to exactly what the banks want to see. What are the acceptable ratios and formulas the bank would require for an approval, and then how does a homeowner make that all balance, and provide the correct support that qualifies your request so that any Lender would agree to modify their current loan to the overwhelming advantage of the homeowner.

This is happens successfully on a daily basis.

Many, many modifications are approved on a daily basis. The savings from a modification can be enormous. I have successfully completed, on behalf of Clients with property in seven states, while at two separate Law Firms, near 400 successful modifications. My average Client saved from $800.00 to $1,500 a month with a changed loan . That is a very large amount of money to save every month. Most importantly it provided them a very low fixed rate that they did not have to worry about being driven out of their home as rates rise. And if they were delinquent and heading towards foreclosure, it gave them a complete fresh start with a payment they could afford.

Not everyone who tries will receive a loan modification. I can guarantee that every single homeowner who does not at least try will not receive a loan modification. Approximately thirty percent of Investors who own the loans will not agree to a loan modification. Conversely, some seventy percent will agree IF you submit a package that is exactly correct and meets all the ratios and formulas as required, and you do everything correctly within the package.

Anyone who really requires relief must try. And you must get some help and learn what you need to do, how to do it and provide you the very best opportunity of being accepted. There s a step by step source available to you that outlines explaining exactly what and how to put your package together for the best chance for an approval and it is now available without spending thousands of dollars. You can find this help at The Complete Loan Modification System, written by Michael Fisher, is an E-Book that tells the exact step by step process that has been used successfully for hundreds of sinking homeowners over the past four years. The only difference between you and them is two things. One they tried, and the otther, they went out and got the correct information to give them the best chance of success.

For any homeowner that is behind, has an adjustable rate, loan, or a fixed loan over 5% to not attempt to receive a mortgage loan modification is just nuts. Millions of homeowners like you are going to get them. All a homeowner needs is just the right information as to how to be approved. Once this current economy turns more positive, we will never again have the leverage against the giant banks to cause them to modify loans to the overwhelming advantage of the borrowers.

Learn more about loan modifications. Stop by Michael J. Fisher’s site where you can find out all about your best chance at a loan mod and how it can save your home. Visit

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