| p>Let me ask you a simple question-would be rather | | | | and all the rest before the loan mod company will |
| pay a loan mod company $3000 or invest 3 hours of | | | | start to work on your file. So, you have already done |
| your time to learn how to successfully complete your | | | | most of the work-why not complete the job for no |
| do it yourself loan modification? No one expects you | | | | cost? Unless you have a situation that involves fraud |
| to be an expert, but with just a few hours of your | | | | or predatory lending abuse, you do not have to pay |
| time and effort, you can learn enough about the | | | | a professional-in fact, the Treasury Department is |
| process to prepare your own professional and | | | | warning all homeowners about paying anyone an |
| acceptable loan workout proposal to your lender. | | | | upfront fee. |
| Loan modifications are free, so why not learn how to | | | | A do it yourself loan modification is now easier than |
| get the lower mortgage payment you need and save | | | | ever because of the new Obama federal loan |
| your much needed cash? | | | | modification plan. The approval criteria is standard |
| A do it yourself loan modification does not mean that | | | | with every lender who is participating, so as long as |
| you can simply throw some forms together and | | | | you take the time to learn and pre-qualify yourself, |
| hope that you get approved. You will need to | | | | you can prepare your own application so that it will |
| dedicate some of your time and effort to learn how | | | | meet that approval criteria. There is no negotiating |
| to prepare your application so that it will meet your | | | | involved, everyone who qualifies has to get the |
| lender's guidelines for approval. But think of it this | | | | same terms offered to them. It's not brain surgery, |
| way, is your time worth $1000 an hour? Because | | | | you can learn what you need to know and follow |
| when you invest your time and effort, you are really | | | | some detailed instructions to make sure that you will |
| paying yourself instead of a company. The vast | | | | have a good chance of getting the modified |
| majority of loan workouts can be successful with a | | | | mortgage payment you need. |
| do it yourself loan modification. | | | | In fact, the Feds have published the actual guidelines |
| I can hear you saying, "But I don't know the first | | | | and steps that the banks have to follow to |
| thing about how a do it yourself loan modification | | | | determine who qualifies for help. You can learn these |
| works!" Do you know how to follow simple, step by | | | | same 4 steps and use them when you complete |
| step instructions? Can you do simple math with the | | | | your application forms. This gives you the inside edge |
| help of a calculator and provided charts? Are you | | | | to make sure your forms are going to meet the |
| motivated to work hard to save your families home? | | | | approval guidelines-you can take much of the guess |
| If the answer to these questions is "Yes" then you | | | | work out when you take the time to learn these 4 |
| need to start learning more about how you can | | | | steps. |
| prepare your own loan modification application. | | | | Are you willing to make the commitment to set aside |
| It's true that thousands of loan mod companies are | | | | 3 hours of your time to learn how to complete a do |
| advertising that they will help you, but the real truth | | | | it yourself loan modification? Take control of your |
| is that they do not have any magic fairy dust they | | | | future, and make the decision to learn, prepare and |
| sprinkle over your application. In fact, you have to | | | | begin today to get the low payment you need to |
| spend your time gathering all of the required | | | | stay in your home. Billions of dollars is allocated to |
| documents and completing your financial statements, | | | | help homeowners just like you-make sure you get |
| borrower application, write your own hardship letter | | | | your share. |