In a recent post Mortgage Modification Plan Continues to Produce Limited Results, it states, “Under HAMP the federal government offered incentive payments to lenders and servicers that agreed to modify loans in accordance with clearly defined guidelines. Despite these incentives, when homeowners fall behind in payments many lenders simply seek foreclosure rather than working with struggling homeowners.” Well folks, I strongly disagree.

Homeowners and investors can no more prepare or negotiate for loan modification any more than they can sell their own home. I truly believe the problem can be solved with a professional mediator. A short sales transaction must be facilitated with a Realtor, why doesn’t a mortgage modification require a certified professional as well?

The process is so over whelming to borrowers and lenders are not quite on the mark with processing. Documents evaporate, they never speak to the same person twice and FAXING, which is archaic is the main means of processing documents. I commend Wells Fargo for creating secure email capability.

Modification mortgage is what every distressed borrower wants, just stop the bleeding. Millions of home loan modification applications are being submitted and lenders were never meant to have personnel to process for so many scenarios. Just imagine every lender is processing home modification requests, short sales and don’t forget foreclosures are still in full force.

I don’t think lenders favor foreclosure, I believe the trend has changed and they prefer home loan modifications I have seen a huge transformation of how they communicate with borrowers. They went from high force threatening to “what can we do to help you” rectify the situation with your mortgage. One solution

The A1A Financial Recovery Team, which partners with The Distressed Property Group offers a comprehensive Mortgage Relief Plan. The plan reviews various options for mortgage relief including; mortgage modification, short sale, Deed in lieu of foreclosure and a variety of other remedies to relieve mortgage distress. We urge you to discuss your situation with a Distressed Property Expert, explore all the remedies before taking action. Careful, there are predators preying on the disadvantaged, ask for references, success rate and anyone asking for an outlandish upfront fee, is just a wolf in sheep’s clothes. There is hope, there is help. Request the Mortgage Relief Plan for sound advice.

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Related posts:

1. READ THIS: If you’re delinquent on your first mortgage and making payments on your second mortgage?
2. Investors Are Getting Approved with Loan Modifications
3. Getting Qualified for a Loan Modification
4. Tides are Turning Modifications Become More Desirable
5. More Resources Needed for Loan Modifications to Help Borrowers

Tags: Borrowers, Comprehensive Mortgage, Deed In Lieu, Deed In Lieu Of Foreclosure, Distressed Property, Faxing, foreclosure, Foreclosures, Full Force, Home Loan, home loan modification, home modification, Incentive Payments, Incentives, Lenders, Loan modification, Modification Applications, Modification Requests, Mortgage Loan, mortgage modification, Mortgage Relief, Predators, Professional Mediator, Property Expert, Property Group, Realtor, Sales Transaction, Scenarios, Sound Advice, Success Rate, Upfront Fee, Wells Fargo, Youtube Video Player

This entry was posted on January 26, 2011 at 3:04 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Foreclosures Loan Modifications Short Sales by Agi Anderson No Comments Yet