Minggu, 21 Februari 2010

How Can I Negotiate a Loan Modification with my Lender?

How Can I Negotiate a Loan Modification with my Lender?

Negotiating your mortgage loan modification with your lender is an Art. Let me give you one secret tip for it. The tip is,

“The first time your lender will reject you. Don’t worry, try again. The next time your lender will approved you for the loan modification but reduce a little amount of monthly mortgage payment say for example just $ 100 or so but still don’t give up. And be persistent. And the third time, your lender will really ease your terms of mortgage loans.”

This is all that you need to know about the loan modification process. The Hardship letter is very important while negotiating with your lender. Now, most of the people don’t know the above secret about the loan modification and what they do is, they spend thousands of dollars behind loan mod attorneys to do this for them.

Download 60-Minute Loan Modification workbook and prepare all the documents and paperwork for the loan modification process in less than 60 Minutes. California based Mike has successfully modified his 5 mortgage properties by this way and you can also do the same by following this ultimate step by step guide.

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