Loan modification has been put in place by government and lenders to help keep homeowners in their homes. It is defined by the U.S. Department of Housing and Urban Development, as a permanent change in one or more of the terms of the mortgagor’s loan, which allows the loan to be reinstated with a payment the homeowner can afford. Unfortunately the hoops created to jump through and the lack of information given makes the process less than desirable to the homeowner.
A call of help to your lender leads to filling out your budget, tracking every dollar you earn and spend, with no insight into what they are looking for. Should you have a few dollars left at the end of the month or should you be running a deficit?
So in steps a company called Homeowner Toolbox Inc out of Irvine, CA. They have created a website that provides a free, self-assessment tool for homeowners to give them some insight into the modification process and show them if they are able to qualify for modification. The tool is tailored to each mortgage lender, which you can pick from their drop-down box. You will then be led through the free assessment set to the standards of your particular mortgage company.
The tool is located here:
http://www.counselordirect.com/
Erik Laine
LP Design
20610 Rush Meadow Lane
Rogers, MN 55374
http://www.lpdesignonline.com
(888) 340-1769
Tags: assessment, foreclosure prevention, loan mod, loan modification, real estate
