One of the Houston’s local TV news stations reported that a Houstonian had gone through a loan modification only to have issues later. The news report did not provide the details of what kind of issues the homeowner experienced with the lender. However, MMT always advises that clients pay attention to the details of the loan modification offered by the lender before agreeing to it.

Once the agreement is in place, stick to it.  Make sure you know what you are agreeing to including any and all conditions. Ask questions and get the lender’s response in writing.  

Pay on time and keep up with whats going on with your payments. There are a number of ways to make sure your payments arrive on time. No matter how you make your payment, make sure it conforms to the loan modification agreement worked out with the lender. Do not forget to verify that you pay to the penny the entire amount due when making your payment.

TIP: Round-up your payment to the next highest dollar will make it easy to remember.

Get help: If you need help and would like to utilize our services, we do charge a fee based on the expected actions required to service your needs.  You are not charged by us to evaluate your specific situation.

Our fees are relatively inexpensive and you will benefit by enjoying personalized service and and attention to detail.

So, the two of you agreed that it would be nice to have a vacation home. After all it would be a great investment and the makets was really hot. If you waited you likely would not be able to afford it. So, now you have the vacation home and it’s just a two our flight and the family could spend a lot of weekends there.

The credit cards are great cause you could keep your cash and just pay the cards later. So, new furniture for the vacation home, and the weekend trips to visit, and everything else went on tht cards. 

Then the spouce’s job was moved to another state. The family had a decision to make. Move to keep the spouce’s job or stay to keep yours. The spouce took severance pay and the family stayed put.

The loan modifications program is a tool thats helping to stablize the real estate mortgage market by assisting homeowners in keeping their homes. On the flip side lenders also reap benefits from modification programs.

Lenders benefit from loan modification by avoiding foreclosing on the property which almost always is a big loss for the lender. With current economic conditions potential losses from foreclosed properties is astronomical.

Tightening credit makes it even more difficult to get rid of properties once they are in foreclosure. Bankers and other mortgage lenders are in a no win situation in many cases.

Consumers and lenders are being pinched while the light at the end of the tunnel flickers in the distance. MyMoneyTruck.com has

With no time to lose our experts immediately went to work negotiating with the lender.  The lender agreed to delay foreclosure (which is rare) while we negotiated a new lower payment plan for the client.

The whole process was finally completed over three months later.  The homeowners ended up with a monthly payment they could actually handle and they got to keep their dream home.

Get started today. The sooner you start your application…