Considering Alternatives to Foreclosure on Your Home

Facing foreclosure, homeowners often assume they have only two options for dealing with the foreclosure — pay up or move out. However, there are several alternatives to consider. [more…]

Hiring a Loan Modification Professional for Home Mortgage Expertise

Loan modification for a home mortgage is a team sport. You either work with your lender or through a third-party representative, a loan modification expert. Which option is best for you? Read on to find [more…]

Discussing a Loan Modification with Your Home Mortgage Lender

Lenders have many policies for rejecting a loan modification request. Some of the lender's restrictions are reasonable. You'll likely be rejected for a loan modification if you’re not gainfully employed [more…]

Teaming Up with an Investor to Stay in Your Home

Real estate investors are sometimes willing to team up with homeowners to help them keep their homes — either permanently or temporarily. Although these investors normally purchase properties with the [more…]

Documenting Your Property's Market Value

Lenders want to know about the market value of a property before approving a loan to purchase the property. The lenders want to make sure that the collateral is sufficient to secure the repayment of the [more…]

How to Prepare a Hardship Letter for a Mortgage Lender

When applying for a home loan modification, a key component of the application is the hardship letter, the homeowners’ description of the financial setbacks they’ve experienced that resulted in their inability [more…]

Creating Financial Statements for the Mortgage Lender

When you apply for a home loan modification, you will need to prepare financial statements for the mortgage lender that list your household income and expenses. The decision of whether your lender agrees [more…]

How to Document the Mortgage Loan Modification Process

When you’re trying to negotiate a loan modification, you should document the entire loan modification process. Use a log to document all communications. Even people with photographic memories have a difficult [more…]

Dealing with Lender Delays in a Loan Modification

While some lenders expedite the loan modification process, others lenders don’t (whether intentionally or unintentionally). They delay the loan modification process until the option falls through the cracks [more…]