Tag Archives: modification
How to Get Mortgage Relief With So Many Modification Companies Out There
The big question is “How To Get Mortgage Relief”?
There are hundreds of companies that have arisen since the “Mortgage Relief Plan” of our government. How could you possibly know which company can really help you in this financial crises. With estimated three million homes going into foreclosure by the end of 2010, many homeowners have been victim to long hold times, no call back, many promises and little or know results from the hundreds of “Mod Companies” that promise the world. More than a million loans, written during the height of the lending boom, are scheduled to reset to Interest rates that many homeowners will no longer be able to afford.
There Is Hope!
Here some things that you can do to determine which companies are going to help you :
Ask the company for testimonials or referrals from existing clients? If the company doesn’t have testimonials or referral letters, then I would be a little concerned. Any professional service business should have a list of satisfied clients.
Ask what there procedure is to ensure that you will get what you need? The company should have a complete step by step procedure to share with you, so you will understand in completely.
How long has this company been in business? If the company has only been established for 2 years or less, they might not have developed a great service plan for their industry to service their clients. It takes usually 3-5 years in business to deal with trial and error.
What is the background of the company? Check the company on google, look for complaints or disputes.
What is the guarantee of the services? If the company does not perform the way they claim what kind of refund is available?
How many employees do they have? Ask for permanent employees, if they have more temperary employees than permanent, I would have concerns.
What is the average time frame to complete the transactions? Ask them how long will the process take from the point of the first interaction to the last transaction. Most modifications should take around 30-90 days to complete.
I have written this article to hopefully give a small glimpse of clarity on How To Get Mortgage Relief for all you who are in the middle of this financial crises in our country. There are good companies out there that are willing to do all the right things to help America get back on its feet through knowing the client needs, demanding excellence from their associates, enforcing a strict guideline for excellent customer service. And most of all having the experience and knowledge to help you feel safe and secure about trusting their establishment to take care of you.
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Fight to Delay Foreclosure Now, Then Use Some Tactics to Qualify For a Mortgage Modification Plan
Thousands of families are now involved in a big fight to delay foreclosure for as long as they could. The President Obama’s Mortgage Modification Program is now working at full speed, however, thousands of homeowners that once believed could be helped under this plan are now being left behind.
Due to the rigorous and complex requirements and pre-requisites that homeowners have to comply just to be considered for this program, these families are now just trying to fight to delay foreclosure in order to stay in their homes for as long as thy possibly could.
The red tape is long and wide and the bureaucracy and complexity of the basic requirements are so extraordinary that the whole program can be manipulated in order to serve the interest of those in control; in this case the Banks and Financial Institution. After the many bailouts that the banks have been given, now once more they are getting over 75 billion dollars as incentives to work with homeowners.
Their participation, however is voluntary, so they can just hand pick the mortgages that make sense for them financially, get their chunk of money as incentive, and leave out of the ball most of the homeowners.
There are, however, some amendments in progress to make the Obama’s Mortgage Modification Program easier to implement, easy to understand and ease in some ways the rigorous requirements for a homeowner to be considered for help. Nevertheless, in the meantime, thousands of homeowners that have been rejected for the program are now losing their home to foreclosure.
Don’t let that happen to your family; even if you were rejected to be considered under Obama’s Mortgage Modification Program for many different reasons you may later on qualify for this help if you can fight to delay foreclosure now, and stay in your home for some time. Even if one of these reasons is that you did not have enough income or not income whatsoever.
The idea is to fight to delay foreclosure now, to later use some tactics and strategies to qualify for the program. This is possible if you know what to do now to put a good fight delay foreclosure, and then you know how to proceed accordingly to be considered for the participation on the program. You can use the law in your favor to delay the foreclosure process and you can do it on your own once you know how the system works.
Your fight to delay foreclosure should now be more cautious that ever, because now with the Obama’s Mortgage Modification Program in the open, lenders are accelerating the foreclosure process in those who do not qualify for the program. So you have to make arrangement with your bank in order to delay the foreclosure of your home, but you have to be armed with knowledge in this fight.
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