Where Can I Find an Application for Loan Modification?

Good afternoon and thank you for that great question.  Many homeowners have this on their mind currently.  Having heard news stories and perhaps spoken to family members or neighbors who mention their loan modification stories and experiences.  Always the question comes to the front: How and where do I start?  Hopefully I can help.

The best place to start this process is in your own mail.  Find a mortgage statement and call the number for customer service; they will be best able to point you in the right direction. Be aware though that the number of homeowners seeking a loan modification or simply information of what their options are, time on hold listening to that great music can be minutes, while a voice reminds you of how much they appreciate your business.  You will be asked a number of questions regarding your financial situationa and why you are seeking a loan modification.

Regarding an “ application” that perhaps one could find on the internet and complete; each lender is different.  I have seen some sites that allow you to complete specific fields and submit to the lender with the expectation you will be contacted.  Other lenders email a loan modification package to you for you to upload and complete in order to be submitted back to the Loan Modification Department.  So for each lender the application itself could be different; but in each case the application process is quite similar.  Answering questions, providing accurate and current financial information to be reviewed and discussing options with the lender.

In the case of not being able to get a satisfactory conclusion with your lender or the frustration level is just too great after attempting to communicate with your lender; you may seek out the services of a third party loan modification company.  These providers are well versed in communicating with lenders and at times obtain more favorable results.  Many are found on-line and work for a fee which is paid upfront.  A word of advice concerning these service providers; there are some that are very good and others I would avoid.  If you wish to utilize the services of one of these providers, do your homework and don’t always go with the first one you contact. Thank you and best of luck.