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How to Get Out of Foreclosure with a Loan Modification
By HowExpert
Rating: 5 out of 5 stars
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Book Description:
Book Description:
]If You Want To Learn How to Get Out of Foreclosure with a Loan Modification, Then Get This Potentially Life Saving Book!
A home loan remodification is a method you may qualify for that allows you to get current again. If you are behind several payments, you may be in fear of foreclosure. Perhaps that process has already been started and you are afraid you will lose your home. A loan remodification can allow you to re-age your loan and get a payment you can afford with your current financial circumstances.
Instead of trying to come up with a lump sum of money to save your home, you only have to focus on being able to meet that monthly mortgage payment. The process to qualify for a home loan remodification takes time and you have to follow the steps or you can be denied for failure to comply.
Once your application is in motion, the foreclosure process will be put on hold. This gives you and the mortgage company time to go through all of the paperwork and see what can be done. Most lenders want to extend a remodification loan to you rather than foreclosure on the property. With that in mind, it is to your advantage to see if you qualify.
About the Expert:
I didn’t know about loan remodification until my home was already in foreclosure. I was trying to explore my options and came across the details. I was frustrated that my mortgage company hadn’t taken the time to share that with me as a possibility. They had no trouble calling me at least twice per week to ask for the full amount I was due. They refused to take payments and didn’t seem to care about the reason why I was getting behind.
Armed with information, I called them and asked for a loan remodification application. I am glad I did as it got me back on track with my home loan. I am hopeful this process can do the same for you. If you are facing foreclosure, you definitely want to look into home loan remodification as an opportunity.
Instead of trying to come up with a lump sum of money to save your home, you only have to focus on being able to meet that monthly mortgage payment. The process to qualify for a home loan remodification takes time and you have to follow the steps or you can be denied for failure to comply.
Once your application is in motion, the foreclosure process will be put on hold. This gives you and the mortgage company time to go through all of the paperwork and see what can be done. Most lenders want to extend a remodification loan to you rather than foreclosure on the property. With that in mind, it is to your advantage to see if you qualify.
About the Expert:
I didn’t know about loan remodification until my home was already in foreclosure. I was trying to explore my options and came across the details. I was frustrated that my mortgage company hadn’t taken the time to share that with me as a possibility. They had no trouble calling me at least twice per week to ask for the full amount I was due. They refused to take payments and didn’t seem to care about the reason why I was getting behind.
Armed with information, I called them and asked for a loan remodification application. I am glad I did as it got me back on track with my home loan. I am hopeful this process can do the same for you. If you are facing foreclosure, you definitely want to look into home loan remodification as an opportunity.
LanguageEnglish
PublisherHowExpert
Release dateOct 3, 2016
ISBN9781370625468
Author
HowExpert
HowExpert.com is a team of everyday experts that create no-fluff, straight to the point, quick guides that gets you fast results. Our mission is to create quick and straight to the point guides that anyone can quickly read to get better results in the fastest time as possible. We create quick reports because we know that many people prefer to get tips quick, fast, and easy compared to digging for it in an overly lengthy book. We don't want to waste your time. We want to get you results. That's it! We want you to get results FAST. That is why we purposely create most of our guides to be short and to the point. In fact, most of our books can be read in an hour or less. In the end, you get a cool 'how to' guide that focuses on ONE thing and ONE thing only. That is to get you results FAST. So if you are looking for a no-fluff, straight to the point guide that will get you real life results in the fastest way without wasting any of your precious time, then get any of our 'how to' guides of your choice. Thank you and we wish you much success in all areas of your life! HowExpert.com Team
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Reviews for How to Get Out of Foreclosure with a Loan Modification
Rating: 5 out of 5 stars
5/5
1 rating1 review
- Rating: 5 out of 5 stars5/5
Aug 28, 2017
It's very helpful and simple to read and understandabaIe really enjoyed reading
Book preview
How to Get Out of Foreclosure with a Loan Modification - HowExpert
How to Get Out of Foreclosure with a Loan Modification
By HowExpert Press & Sherri Adame
Copyright http://www.HowExpert.com
Smashwords Edition
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This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favorite ebook retailer and purchase your own copy. Thank you for respecting the hard work of this author.
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Table of Contents
Chapter 1 Introduction
Chapter 2 What is Loan Modification?
Chapter 3 Discussing Loan Modification with your Lender
Chapter 4 The Application Process
Chapter 5 Providing Verifications
Chapter 6 Staying in Contact with Your Lender During the Review Process
Chapter 7 Approval Process
Chapter 8 Getting Back on Track with your Home Mortgage Loan
Chapter 9 Common Mistakes to Avoid
Chapter 10 Conclusion
About the Expert
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Chapter 1 Introduction
Buying a home is an exciting adventure, and one you don’t enter into lightly. The typical mortgage spans over 30 years. The thrill of owning your home, making it what you want, and relaxing there is important. Picking the right home in the right location is a dream come true!
Yet that dream can turn into a nightmare if you get into a situation where you can’t pay your mortgage on time. Not only does your credit suffer and those collection calls come along, you are at risk of losing your home. If it goes through the foreclosure process, you will lose all the equity you have in it. You will have to find another place to live!
Before you give up, and think that you have to move from the home you love, you need to explore options. You don’t have to have excellent credit and get a new loan. You don’t need plenty of equity in the home either. Instead, you need the right information about home loan modification.
This is a process that allows you to stay with the same lender. You will work with them to decide on new terms for the loan you already have. Your payment is going to change, your rate of interest may change for the better, and you will no longer be reported to the credit agencies as being behind on your loan.
This is an opportunity for you to show them that now you have income to be able to pay your mortgage each month. You do have to meet specific Federal guidelines as well as those that apply in the state where you reside. There can be some lender specifics too.
Armed with such details, you may decide pursuing a home loan modification is the perfect way for you to save your home. If you are serious about keeping it, you need to go down this path and see what you can accomplish!
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