The Truth About Loan Modification Approvals

Why is it so hard and take so long to get approved for a loan modification? Because it is by design! Your loan servicer is financially rewarded to delay and complicate the modification process for as long as possible. In fact your loan servicer is paid thousands of dollars per loan modification application every time you apply which is why you probably have or will end up applying for a loan modification multiple times!

What are my chances of being approved for a loan modification on my own? According to the Federal Housing and Urban Development (HUD) office, homeowners applying for a loan modification on their own OR using a HUD certified counselor have less than a 15% chance of being approved for any loan modification.

Is my loan servicer supposed to help me get approved for a loan modification? NO! This is the biggest lie told to homeowners! Your loan servicer is a debt collector which is why they have to legally tell you: “we are a debt collector attempting to collect a debt and any information will be used for that purpose.” They are putting you on notice that you are the DEBTOR and they are the COLLECTOR. They do not represent you or your best interests and they are not required to help you get approved for a loan modification. If they think more money will be made off of you by delaying your loan modification approval and then foreclosing on your home that is what they will do unless you seek immediate FREE professional help from me. 

How do I know if my loan modification application is NOT in an active review status?
·    If you receive a Notice of Intent to Accelerate Foreclosure, Notice of Default or Notice of Trustee Sale after you have submitted your loan modification application, your modification application is NOT in active review!
·    If your account representative is requesting additional documents such as bank statements, pay stubs, updated forms, applications, letters of explanation, etc., your modification application is NOT in active review!
·    If your loan modification has not been approved within 30 days of application submission, your modification application is NOT in active review!
·    If you have not been approved for a trial payment plan within 45 days of application submission, your modification application is NOT in active review!
·    If your account representative is not returning your telephone messages within 2 business days, your modification application is NOT in active review!
·    If you do not receive a confirmation of documents sent within 5 days, your modification application is NOT in active review!

If you are behind in your mortgage payments and if your home loan is not in an active review status, your home loan is in active foreclosure and is subject to sale WITHOUT FURTHER NOTICE.

What are the signs of a foreclosure rescue or loan modification scam? 
Anyone (including attorneys) who:
·    Requires an up-front fee to work with your lender/loan servicer to modify, refinance or reinstate your mortgage
·    Guarantees they can stop your foreclosure or modify your mortgage for an up-front fee
·    Advises you to stop paying your mortgage payment and pay them instead
·    Pressures you to sign over the deed to your home or sign any paperwork you don’t understand
·    Claims to offer “government approved” or “official government” loan modifications
·    Asks you to release personal financial information online or even over the telephone
·    Claims a bankruptcy filing will stop your foreclosure and eliminate your 2nd mortgage
·    Claims filing a lawsuit against your loan servicer will force them to modify your mortgage
·    Claims a REST Report or forensic loan audit will force your loan servicer to modify your mortgage

DON’T GET SCAMMED! 
Contact me today for FREE HELP and FREE INFORMATION to save your home from foreclosure and to lower your house payment (even if you have been declined)

Worldfundingla@yahoo.com 
Patty Schultz.com

This is not a solicitation for a listing on your home. The person presenting this information to you is a licensed realtor. If your home is currently listed by a real estate professional, this is for informational purposes only. If you are reading this fine print and you are serious about saving your home from foreclosure and lowering your house payment, contact me today.