San Diego North Valley CA Loan modifications have become a joke. People get turned down for no reason at all. People really want to keep their home, but just can't figure out what to do. The loan modification negotiators realize how desperate the homeowners are. They use their power over the person to take an ego trip.
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"I'm going to make this person beg me personally for their loan modification", they think to themselves. Everything becomes a competition between negotiators on who can squeeze more out of people.
They talk to their fellow negotiators about what they are able to force people to do. "I saw that one lady had $100 a month for entertainment on her financial statement. I told her she didn't deserve money for entertainment when she owed money to us", they say to them.
Meanwhile, the other negotiator tells their story. "One couple had $200 a month on their financial statement to give to their church. As soon as I saw that, I increased the payment I asked by $200", they say. Yes, power does corrupt. These loan modification negotiators hold they keys to the homeowners future staying in their home.
Here is what needs to be added to the Homeowner's Bill of Rights.
1. Whenever a homeowner is turned down for a loan modification, the lender shall give them a written, coherent response along with the reason they were turned down. It needs to specifically detail why they were denied and what they can do to be approved.
2. Homeowners are given all the guidelines at the beginning of the loan modification process. They should receive the same guidelines the loan modification negotiator receives. That way they can make sure that they aren't lying to them.
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When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 760-576-HELP (4357).
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Thinking about a loan modification? Our Escondido Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
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