SteelerMom

Ten Reasons to Hate Mortgage Modifications

Well, the modification worked for me.


I was left with 2 kids and a mortgage payment when my husband left us. Which was fine until the rate adjusted. How would you feel with 2 kids, 1 income and a payment spiriling out of control? So a friend told me about LoanModAssistant.com/ which is a DIY website for loan modifications. My BOAmerica mortgage is now fixed at 5.9% for 30 years which I can easily handle. Better than the 12.5 it went up to. That was the best $199 that I have ever spent. And if the modification didnt work, I had a guarantee from them and get money back.

Sure they arent the cure for everyone, but for people like me, that's the difference between having to move your kids to low income rent, or staying put.


-Steeler mom

Foreclosure Relief Efforts: Update [Housing Tracker]

People need to start calling their lenders and stop being afraid.

If you need help like I did, and get a company, make SURE that they have a guarantee.

I used a company called loanmodassistant.com. They do have a guarantee. They walk you through the whole process and even printed off the needed documentation I needed for flagstar. Id recommend them to everyone. I used coupon code "guaranteedmod" I don't know if it still works but it brought my total down to $150 well worth it i'm now saving $570 a month. hope this helps someone

Loan Modifications and the Mortgage Market

Doing a loan modification can be done for free

There's the Hope company which will help

Also www.loanmodassistant.c.../ is a system for people in a hardship or foreclosure that teach the user to do their mod for $199.99

Loan mod "companies" typically charge thousands to do a mod. Sometimes they just take your money.