- The Ez Loan Modification Hero. Learn exactly how to save your home by modifying your loan. A mortgage industry veteran and loan modification expert gives you all of the information, instructions, tools, worksheets, sample forms and sample letters that you need to save your home.
- The Loan Modification Kit. Learn how to present your modification to the bank so they will approve your request the first time. VERY EXPENSIVE e-Book!!!
Why You MUST Do Your Loan Modification Yourself
Don’t be fooled! Before I decided to do my loan
modification myself, I almost hired a so-called “loan mod consultant…” but
thank goodness, I learned the truth first!
Here are the scary facts of loan mod firms:
Many loan modification firms were started by
subprime mortgage brokers who were out of work.
These hucksters know very well that they’ve only got 6-12 months before
banks stop accepting loan modification requests, so their goal is to get as
many customers (and as much money) as they can right now.
They’ll often charge a ridiculous $3,500-4,500,
and once they’ve got your money, their focus is on getting more customers,
not servicing their existing ones.
On the rare occasion when a loan modification firm is
successful, they almost always accept the first offer the bank
suggests—this is crazy! The bank’s first offer is almost never their
best offer, so even if you do get your loan modified, you could still be
getting screwed long-term.
Loan modification firms use cookie-cutter template letters
and legal speak that sends up red flags at many banks. Remember, your lender
is under tremendous pressure from the government and the media to help
individuals like you, not fast-talking lawyers or consultants.
In California, there are currently only 14 certified loan
modification consultants yet over 1,000 companies offering
loan modification services-do the math. Most firms are operating illegally
in California, and the same is true in every other state as well.