Loan Modification Success Rate Tips - Avoid Common Mistakes

Hello! Im PETER SANTILLI, and Im a Consumer Advocate specialized in helping homeowners victimized by the housing crisis. In the past 2 years, Ive successfully negotiated over 350 loan modifications for homeowners, and consulted with thousands to help them save their homes from foreclosure. I have more experience dealing with big lenders like Wells Fargo, Bank Of America & Chase than anyone I know in this industry, and attorneys across the county are actually coming to me when theyve exhausted all of their legal efforts & need my specialized assistance if a lender is unwilling to cooperate & wants to foreclose.
The biggest question I get all the time is are banks really giving homeowners loan modifications?
So, what is the answer? The answer is: Yes, but only if theyre forced to, and ONLY if you have someone with experience helping you navigate your way through the process quickly; and efficiently. Most homeowners have never done a loan modification, and your lenders HATEs it when you have someone helping you that has experience & knows their tricks.
What Ive also discovered is if Homeowners try to go it alone & work with their mortgage company, loan modification success rates are HORRIBLE because lenders drag their feet when a homeowner doesnt know better.
Think about it; why would your mortgage company want to do a loan modification quickly?
Theyd be reducing the payments they receive by hundreds of dollars every month ESPECIALLY if youre not behind on your mortgage! Things are goin along nicely; theyre happily getting their higher payment; so.. they take their time, drag their feet getting your modification completed, and in fact, ALL lenders have famously become experts at losing your paperworkall in an effort to buy more time & collect higher payments.
On top of that, theyre understaffed, and they set their customer service up so that youll NEVER speak to the same person twice. They DONT want you and their staff to have a friendly, compassionate relationship --- because they will likely have to take your home. Additionally, theyre so overrun with desperate homeowners; during a recent undercover investigation conducted by my firm; it was revealed that mortgage company managers told their staff to run interference & tell borrowers whatever they need to hear to make them go away.
If you can find someone experienced in negotiating loan modifications whos willing to get paid ~after~ doing work & moving you through the process ---- you can get your loan modified relatively quick. Never pay anyone in advance, and you definitely dont need an attorney. In fact, what Ive learned is that attorneys hire people to do all the work for them & you will rarely find one who will do the negotiation personally.
So before you hire someone; even if its an attorney, always talk to the actual person who will be accountable for getting the work done --- from start to finish. They tend to be more accountable & compassionate towards your situation if they know you and have a personal relationship with you.
Now, if you like this video, Ive made more videos tips like this giving FREE advice for homeowners AND get a copy of my eBook The Modern Mortgage Survival Guide --- the guide sells for $29.00 on my website, but Im giving it away for FREE if you just visit www.LoanModificationSuccessRate.com

Thanks, and well see you in the next video

About the Author:
Im PETER SANTILLI & Im a Consumer Advocate specialized in negotiating loan modifications for homeowners victimized by the housing crisis. In the past 2 years, Ive successfully negotiated over 350 loan modifications myself & Ive consulted with thousands of people across the country; helping them cut their mortgage payments & saving their homes from foreclosure. I have more experience dealing with the big lenders like Wells Fargo, Bank Of America & Chase than anyone I know. Even attorneys across the county are coming to me when theyve exhausted all of their legal remedies & need my specialized assistance if a lender is unwilling to cooperate & want to foreclose.

Article Originally Published On: http://www.articlesnatch.com

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