Jul 25 2009
Stall Your Case For Loan Modification
The banks have realized that they would rather not have to foreclose on a property. They have learned that each delinquency and foreclosure is costly to administer, with a typical foreclosure estimated at $60,000, or about 20-25 percent of the loan balance (legal fees alone can cost $4,000), and those costs are expected to be even higher in times of home price depreciation. Banks already have an overwhelming number of properties in foreclosure, and they are finally recognizing their need to accept loan modifications via their loss mitigation departments. The best time for Loan Modification is now!
The time has never been better for consumers (who own homes) to take action and request that their loans be modified towards better terms and a lower interest rate. Moreover, with these new economic realities, a loan modification may be the only way for a homeowner to save their home.
Recently, large numbers of homeowners have been trying to complete “loan workouts” or loan modifications with their current mortgage lender to lower the interest rate and improve the terms of their loan. They have learned that negotiating with the bank for a modification of their home loan can be an overwhelming process. Major lenders such as Countrywide bank, Indy Mac bank, Wells Fargo, Bank of America, WAMU, New Century, Quicken Loans, Aurora, Aegis, EMC Mortgage, CITI Mortgage, Chase Bank, are inundated with defaults and foreclosures. Numerous calls, hours of time, repeated delays, transfers from one department to another, voice mails, faxes back and forth. In order to complete the loan modification, you need to be able to stall the foreclosure process indefinitely.
Stop Foreclosure - It is the most important decision of your life.
- Foreclosure is AVOIDABLE. Modify your loan now and keep the roof over your head.
- Foreclosure is a CHOICE, not an inevitability. Modify your loan now and avoid foreclosure.
- You DON’T have to settle for foreclosure. Avoid it with a loan modification now.
Learn how at www.ForeclosureDefenseSecrets.com.
Best article, lots of intersting things to digest. Very informative
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