 |
866.923.6912 (toll free)
info@loanmoddocs.com
|
|
|
What it's all about...
Loan Modifications are not refinances, so they are available to EVERYONE, regardless of credit history or equity.
Our Mortgage Modification Kit was structured so that you and the millions of other homeowners facing increasing mortgage payments in a declining market can take on the banks and modify the terms of your mortgage. Do not be fooled by loan modification companies that charge thousands of dollars to do what you can do in two hours.
Our Kit explains it all, step-by-step. And if you do have questions, our loan modification experts are just an email away.
You don’t need to divulge personal information over the phone to a person you don’t know. You don’t need to fax that information to some company you’ve never heard of. You don’t need to input that information into some internet form, either. Identity thieves are everywhere. Now, you can download the forms and fill them out in the privacy of your own home, at a time that’s convenient for you. And you have the additional comfort of knowing that no one but you has access to your personal information.
All you need for a successful mortgage modification is the information and forms that are in our Kit. Mortgage Modification Solutions has created a package that enables you to quickly and easily complete the mortgage modification process. It contains ready-to-send forms and step-by-step instructions to help you get your mortgage modification application ready to send to your bank.
Using our Kit produces a well-prepared, accurate and reasonable proposal to your bank that will give them all the information they need to give prompt consideration to your mortgage modification. |
|
 |
|
News & Updates
Fannie & Freddie Agreed Today to Postpone ForeclosuresOn Friday, Nov. 21, mortgage giants Fannie Mae & Freddie Mac agreed to postpone foreclosures until after the holidays. This will help alleviate the pressure of the glut of mortgage modification requests expected to to be submitted over the coming weeks. Banks & Fed Come Together
Major banks and the federal government are coming together on a solution for struggling mortgage borrowers.
The goal is to hasten the process for renegotiating hundreds of thousands of delinquent loans, either those held by major banks or held by Fannie Mae or Freddie Mac.
Renegotiating loans for struggling homeowners has taken on greater urgency as jobless claims rise and the economy declines. Housing prices continue to fall, leaving many with mortgages greater than the value of their homes, and banks continue to suffer major credit losses as a result.
----
JPMorgan Chase and Bank of America have separately announced plans to help ailing borrowers. Fed Approves Plan for Fannie & Freddie to Modify Mortgages!
Effective December 15, a new plan, announced by the Federal Housing Finance Agency (FHFA), which seized control of Fannie Mae & Freddie Mac in September, will take effect. The plan would enable Fannie & Freddie to reduce interest rates or extend loan terms to make mortgage payments more affordable. This would apply to mortgages that Fannie & Freddie own or guarantee.
Qualified borrowers would get help in several ways: The interest rate would be reduced so that they would not pay more than 38% of their gross income on housing expenses. Another option is for loans to be extended to 40 years from 30, and for some of the principal to be deferred, interest-free.
James Lockhart, director of the FHFA, urged invstors to "rapidly adopt this program as the industry standard."
(Excerpts from article by Alan Zibel, AP Real Estate Writer. November 12, 2008.) Banks are proposing that they forgive up to 40% of credit card debt
"This is industry’s attempt to help borrowers and ease some of the burden and give them the chance to repay by using some of the payment restrictions also helps us by giving us the chance to collect some of the money we wouldn’t have otherwise been able to correct." Scott Talbot, Financial Services Roundtable, November 1, 2008
|
|
|
|
