Oakley,CA - If you've ever tried to get a loan modification, then you know how tough it can be. Here is one reason why.
The negotiations are all based off of how much the lender can squeeze out of you.
The lenders feel like they are entitled to every penny they can get.
They won't stop squeezing you until they get repaid every dime.
Many loan modification customers end up paying more than their home is worth.
Maybe they bought their home for $150,000, and took out a $150,000 mortgage.
Today their home is worth $100,000. This homeowner can afford to pay down a $100,000 mortgage. However they can't afford to pay down a $150,000 mortgage.
What does the lender do? They force them to pay the $150,000 mortgage.
This is why you must have a Broker's Price Opinion of Value when you apply for a loan modification.
Here is what a Broker's Price Opinion (BPO) is. A BPO is a Real Estate Agent or Real Estate Broker's opinion of the value of your house.
To get a copy of our "No Cost" Loan Modification Guide and the tools necessary for a successful loan modification, click here. I will include a Broker's Price Opinion with it.
Thanks for reading this information.
Adrienne Smith, Realtor
CA DRE# 01121873
Ms. Smith is a Broker Associate at Better Homes Realty
Phone: 1-877-843-8300 Ext. 1
Email: ThePropertyAngel@gmail.com
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