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Posts tagged 'Loan Modification Service'
Written by: Timothy McFarlin | Publish date: November 8th, 2010
As a loan modification lawyer, many people ask me “how do I apply for a home loan modification?” Well, the short answer is, very carefully and deliberately! Loan modification is not a matter of simply putting in a request with the lender, it has become a long and drawn out process of faxing paperwork and following up constantly. Step 1 in How Do I Apply for a Home Loan Modification: Lender Requirements The first step when applying for a home loan modification, is to call the lender and get their guidelines or a list of requirements for loan modification. This [...]
Written by: Timothy McFarlin | Publish date: October 16th, 2010
One of the biggest concerns for homeowners looking to keep their property out of foreclosure is the financial worksheet for loan modification. The loan modification financial worksheet is a critical document because it tells the mortgage company the borrowers’ story in a nutshell. For that reason, the financial worksheet for loan modification must be completed carefully, diligently and completely. I’ve compiled some tips to help homeowners complete their financial worksheet for loan modification to give themselves the best chance of success on their loan modification. Loan Modification Financial Worksheet Tip 1: Make Sure there’s Plenty of Income I’d say the [...]
Written by: Timothy McFarlin | Publish date: October 15th, 2010
Litton Loan Servicing is generally regarded as the worst loan servicer to work with on a loan modification by attorneys and other real estate professionals. Although a Litton loan modification is difficult, it is not impossible, and homeowners with a Litton loan should not lose hope. Litton loan modification is possible, it’s just very time consuming and frustrating. Litton Loan Modification Common Complaints Most complaints with the Litton loan modification process center around a complete lack of customer service and professionalism. It seems Litton Loan Servicing has intentionally hired the most bitter, uneducated, recalcitrant low wage employees they could find [...]
Written by: Timothy McFarlin | Publish date: June 28th, 2010
The commercial loan modification process can be quite lengthy, but for no other reason than lenders seem to drag their feet with making decisions about a person’s loan status. In most cases, the commercial loan modification process will follow a usual order, which is: –The borrower realizes he or she is in need of assistance and contacts their lender for information on the commercial loan modification process. –The borrower will fill out necessary application information and will submit requested financial documents, including but not limited to: income and loss statements, bank statements, and a hardship letter. –The lender will receive [...]
Written by: Timothy McFarlin | Publish date: June 28th, 2010
When businesses face foreclosure, a commercial loan modification service often offers a way out. Many of these services offer to negotiate with lenders, review mortgage documents, and to offer general assistance in avoiding foreclosure. While many of these services are run by honest business people, many still are not. A business person on the verge of foreclosure doesn’t have time to waste with what might be a potential scam. The business person must make an honest assessment of the services they will pay for before handing over their hard earned (and often dwindling supply) of money. Many of the services [...]
