Must home owners know's that there is help available from their lenders, and programs that will help them stay on their home, what they don't know is that the firs line of defense by the lenders is to get the home owner true their "Collection Department".
Here you will be ask question and or try to squeeze money from you before they offer you any consolation.
You will be ask for your financials and the reason of your delinquency, you will also be ask to write a Hardship letter and provide your last w2 form, probably your last year taxes, proof of income.
After all this documents are provided to them, they will probably offer you a reinstatement of your loan, prepayment plan, forbearance, modification or refinance and all these if you qualify.
Must home owner get them self in a situation in which accept the program offer by the collection department.
Doing this by your self as suggested by the banks, is putting your self in harms way. We all know that the bank is not out to provide you with the help needed but to help them self, so what make you believe that they will offer you the best modification available to you.
I am not suggesting that you should pay an expert to this for you, but to think before you act. If you ake the decision to call your self to negotiate a modification; I will strongly suggest getting sufficient information prior to embark in this difficult decision.
There are groups that belong to the "HOPE NOW" alliance; find them to obtain more inforamtion. I will sugets to call us at 888-250-4230 or call 714-699-4695 RE/MAX Metro Realty is approve to offer Modification Services by the DRE (Department of Real Estate)
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