Is it better to try a work out a Loan Modification with my current mortgage company or should I seek out another lender?
Many people have a false belief that they can do the loan modification with the another lender. But well, this is the Myth.
The Truth is - The loan will stay with your current lender only, it will just be modified.
Yes, This is true. Loan Modification means negotiating your existing mortgage loan terms with your current lender. There is no place for another lender or another mortgage company. Another mortgage company does't come into picture here.
What you have to do to avoid foreclosure of your property is to negotiate your existing mortgage loan terms with the existing lender only. There are many Loan modification companies and attorneys who will charge literally thousands of dollars from you for preparing a paperwork for the loan mod that you can prepare by yourself in less than 60 minutes if you have the proper information about the process.
Download 60-Minute Loan Modification workbook and do the loan mod by yourself. This is the ultimate step by step guide to do the loan modification by yourself without the help of anyone. The best thing about this workbook is that, you can apply it's principles and strategies with any lender in any state in the United States.
So start Loan Modification by yourself and get approved for President Obama's Loan Mod Program.