Home Loan Modifications and Your Credit Score

Home Loan Modifications and Your Credit Score A Home Loan Modification can help you stop foreclosure and stay in your home. But if you’re like most homeowners, you’re probably wondering how it will affect your credit, and whether in a good or bad way. Unfortunately, the...

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Tagged As: Credit, home, Loan, Modifications, Score

5 Things in a Loan Modification Hardship Letter

5 Things in a Loan Modification Hardship Letter A financial hardship letter explains to your creditor why you are in financial trouble and requests a specific remedy to help you through the crisis. There are different reasons for writing a hardship letter, but the most common the...

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Tagged As: Hardship, Letter, Loan, Modification, Things

What You Need To Know About Adjustable Rate Mortgages (Arm) – Loan Modification Help Center

What You Need To Know About Adjustable Rate Mortgages (Arm) – Loan Modification Help Center Everyday we read about the worldwide financial crisis and, specifically, about the U.S. banking and housing crisis.  To understand the challenges facing borrowers during the Housing c...

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Tagged As: About, Adjustable, Center, Help, Know, Loan, Modification, Mortgages, Need, Rate

How to Speed Up the Loan Modification Process ?

How to Speed Up the Loan Modification Process ? Foreclosure is always a race against time. Although a home loan modification can slow the process, you have fewer options the longer you wait. Not all lenders have the staff or experience to handle mortgage loan modifications. Even ...

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Tagged As: Loan, Modification, Process, Speed

Loan Modification Glossary

Loan Modification Glossary You know what a mortgage is, how it works, and what to watch out for. But when you go asking for mortgage assistance, your lender’s words make about as much sense as alien banter. That’s what makes the Loan Modification process so confusing for many...

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Tagged As: Glossary, Loan, Modification

Why Do Lenders Prefer a Loan Modification Over a Foreclosure?

Why Do Lenders Prefer a Loan Modification Over a Foreclosure? Lenders are known to be difficult when it comes to loan modifications. But did you know that they benefit at least as much from the process as you do? The main reason they balk at Mortgage Modification is that they hav...

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Tagged As: foreclosure, lenders, Loan, Modification, Over, Prefer

5 Tips Every Loan Modification Firm Talks About

5 Tips Every Loan Modification Firm Talks About Here’s a list of loan modification do’s and don’ts to help you avoid common pitfalls. Do know your rights. More than 80% of mortgage contracts violate one or more lending laws—and most of them go unnoticed. But t...

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Tagged As: About, Every, Firm, Loan, Modification, Talks, Tips

Sub Prime Loan Modification

Sub Prime Loan Modification Sub-prime lending is a type of credit given to homeowners who do not meet the criteria for regular (“prime”) loans. A typical sub-prime borrower has a poor or limited credit history and a FICO score of less than 620. These factors make them a risky...

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Tagged As: Loan, Modification, Prime

Is The Housing Bailout For You? – Loan Modification Help Center

Is The Housing Bailout For You? – Loan Modification Help Center The new housing plan announced by President Obama last week has two main parts.  First, there is a billion loan modification plan and, second, there is a program that helps borrowers who are not in danger of d...

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Tagged As: Bailout, Center, Help, Housing, Loan, Modification