Frequently Asked Questions

Question: Can I get the system in hard copy, or only as an e-book?

We have had several requests for the package in hard copy and have been able to accommodate them. If you would like a copy in hard copy please contact us.

Question: What is a loan modification?

A loan modification is a permanent change in your home loan that may include a reduction of the interest rate, a change to the duration of the loan, a modification of the amount owed, forgiveness of past due amounts or any combination thereof. While the complete solution varies from person to person, your bank will should help you determine the best option for your situation. The final agreement will change the loan and will not require any additional costs to you, the lender.

Question: Am I a good candidate for a home loan modification?

If you are a homeowner that is having problems with your mortgage payments, you are more than likely a great candidate. To be a good candidate and qualify for a home loan modification, you must be able to prove to the bank that you have a good reason for now having troubles making the payments that your originally agreed, and that you still want to keep your home. Even if you have no circumstantial changes, and you still cannot pay the agreed upon changes, you may still be eligible for a loan modification. There are many types of hardships, and lenders are working with individuals every day to help them stay in their homes.

You need to show the bank your financial state. This includes your monthly cash flow, net worth and other financial metrics lenders use. The Complete Loan Modification Kit has a very easy to follow template that you simply enter your information into and it will calculate everything you need to take to your lender.

Question: What if my House is worth less than I owe?

If this is your case then it will work in your favor in terms of receiving a favorable loan modification. Evidence that your home is worth less can be obtained by contacting your local realtor and getting a comprehensive market analysis. With this information the lender will be more likely to grant you a loan modification for the decreased amount your home is worth.

Question: Can the lender include late charges in the Loan Modification?

Actually, the late charges accrued should be waived by the lender at the time of the loan modification per HUD.

Question: Can the lending institution require an interior inspection of the property if they have questions or concerns about the condition of the property?

The lender may conduct any review at any time that it feels is necessary to verify the property does not have any physical conditions that would negative impact the value.

Question: Should I do the loan modification myself or should I pay someone to represent me in the modification?

That is your prerogative, and you should judge that decision based on your comfort level. Remember, though, that most financial institutions require a large fee upfront. Thousands of people have had success modifying their loan with less information and guidance than is provided in the Complete Loan Modification Kit.