There are a few million people now facing foreclosure and the numbers are growing. There are more than two million in pre-foreclosure status and the houses will soon be sold. If someone told you “you have the opportunity to start a new loan without being judged on your credit, would that appeal to you? Loan modifications have been around for years. Back in 01, when adjustable rate loans were popular, smart banks they offered a modification option once within a few years of doing your refinancing at a small cost IT would set your rate to what it was now more or less depending on your bank not based on credit someone got really smart a few years ago and when all these people started facing foreclosure because the economy caught on or loans tightened and credit was so poor they couldn’t get a new loan, modification took on a whole new meaning. But don’t be fooled by “Smoke n Mirrors”.

If you are represented by a knowledgeable company and you are trying this on your own, you will never get the best end result unless you are lucky that day. You must know the correct way to present your documentation and you must also have common sense. When you have bad credit and are behind, it’s kind of hard to put yourself in a negotiating standpoint. Be thankful that over two million are experiencing this so you have a chance to handle your situation and handle it properly, despite your history. The people you choose to represent you are important. Buying the cheapest will give you exactly that.

Remember that if you were hiring a lawyer and going to court, would you buy the cheapest? Having done mortgages for over ten years and now being on this side of the coin, one thing I can assure you is that if you have income and qualify, this is the best option to keep your home. Don’t be fooled by people who promise rates. A lender doesn’t just give you a rate on the first call. Don’t be fooled into “sitting on hold” and suddenly your bank did this or that for you for a third party. The third parties work, but the real ones do not promise you anything and you can hear in their voice if they know what they are talking about or not. Be smart and be prepared. There is no company that does this for free and neither should they. Lenders are convinced you can handle your payments and they’re not going to buy that if you didn’t pay anything to do something. That doesn’t make sense at all. Be wise, remember your bank will tell you they will help you and you don’t need representation, but understand the deal they give you, you will accept without realizing it was 80% more negotiable. That’s why you need companies like ours and a representative like me to do this ethically.