Hi {!name}

Once you have successfully received a loan modification agreement you may be so excited that you sign before reading the fine print and negotiating a better deal.

This is the number 1 mistake, if you don't take the time to determine if the loan modification fits your budget and you can realistically pay it then you will ultimately end up in the same position again.

Therefore it is important to follow a simple checklist to make sure its an affordable agreement.

If the loan modification your lender has proposed is not sufficient then it is time to negotiate. This is a scary task because it is common to feel that our lenders at this point hold all the power over the destiny of our families home. However, negotiating doesn't have to be scary or confrontational. There are simple scripts that can be followed to help with the negotiations to ensure everyone gets a fair deal and most importantly you stay in your home.

Your lender understands this and in fact there is more pressure on your lender to get successful loan modifications to stem the mountain of foreclosures. Also for every successful loan modification your lender receives financial support from the government.

Now armed with the above information negotiating an agreeable arrangement wont be as daunting.

Final Tips:

Make sure you are speaking to the right person. Always have a pen and paper ready by the phone and take detailed notes of the name and ID number of everyone you speak to; including times and dates. Remember to write down:

The date and time of each call.

The name of the person who took the call.

That person's phone number and extension.

Before you're transferred, ask for the direct number of the person you need to reach just in case you become disconnected.

Always keep following up.

Your file is most important to you and no one else.

Remember these banks have hundreds or even thousands of files. Call as often as necessary, but don't be impolite or impatient.

The book the "Complete Loan Modification Kit" provides templates to help you keep track of all the people you talk to while negotiating a loan modification

Chat soon,