Tips and Tricks to Negotiate Loan Modification with your Lender
Let me today give you some tips and tricks to negotiate with your lender for the loan modification process. I will tell you the 3 secrets of loan modification process and from this you will understand that how to negotiate with your lender.
Tip: 1 – Almost everyone gets rejected for the Loan Modification by their lender for the first time so Don’t give up.
Yes, This is true. If you are applying for the loan modification for the first time than almost 100% you will be rejected first time. But don’t give up apply again and again until your bank approves you for the loan mod.
Tip: 2 – The first time you get approved for the loan modification by your lender, your lender will put the loan mod terms that won’t make any financial difference in your life. So don’t accept it. Most of the time your lender will reduce just US $ 100 per monthly payment which won’t make a dime of difference in your financial situation. But be bold and simply don’t accept the terms first time.
Tip: 3 – Once you reject your lender’s first proposal, your lender will come up with more liberal terms such as interest rate deduction, loan period extension or even principal reduction. Accept it and save your property from Foreclosure.
Yes, the above are the 3 golden tips and tricks to successfully negotiate with your lender. Download 60-Minute Loan Modification Workbook. It is the Ultimate Guide to do the loan mod by yourself in less than 60 Minutes. This Ultimate Guide is full of tricks and tips about the loan mod process as well as a step by step plan to get approved for the loan modification process.