The following information is for anyone who thinks they need a loan modification and has chosen to speak to their lender directly.
In any situation such as this the key is to be firm. As with all large companies there are hundreds if not thousands of employees and the same goes for lenders. When you call your lender do not be under the impression that your call will be dealt with quickly, in fact it is recommended that you put at least an hour aside that way you can make sure that all your questions are answered and that you are not left feeling fobbed off by the person you speak to. Also do not make the call from a cell phone or while you have other things to do. This is a very important conversation so give it the time it requires.
Now before you actually make the call, check that you have all the information and paper work you need and also plenty of paper to write things down on. Now remember, the first person you speak to will not require you to tell them your entire story, this person will more than likely only be interested in collecting the arrears you may have accrued on the loan. It is at this point in the conversation that you then tell them that you wish to speak to someone who deals with loan modifications. Tell them you need to speak to the loss mitigation or foreclosure prevention department.
You may even want to tell them that you want to be put through to the division that deals with distressed borrowers and that you want to modify your loan. Once they give you that information make sure you write it down for future reference including the name of the person in that department that you will be speaking to, also ask them for the direct number in case you need to call them again. Then ask the person you are speaking to, to transfer you.
The above information is extremely helpful when speaking to your lender but remember that dealing with your lender isn’t as easy as it seems, which is why there are loan modification companies who will do all the work for you. If you have no expertise in this field then make sure that you hire a professional who does.
Loan Modification Specialists has over 10 years experience of which thousands of Foreclosure cases have been prevented.
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We take pride in knowing that we worked as aggressively and strategically as possible to ensure that our clients are protected. Our staff of foreclosure litigation and loan modification experts worked diligently with each and every client, ensuring that we have dotted our Is and crossed our Ts in every aspect throughout our relationship. Our network of supporters include industry experts such as real estate and mortgage brokers, private lenders, hard-money lenders, investors, auditors among others reinforce our processes by supplying us opportunities that overcome almost any obstacle.
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