What Coloradoans need to know about home loan modifications. This is a great article with tools on how to prepare for the loan process and how to proceed once in the process. Also, this is a good clip about some locals who were successful in getting a loan mod done... with help. The process is long and tough but persistence is key. 9News has helped get loan mods through but it would be nice to know that a news channel doesn't have to get involved to know the process is working correctly. They key is to remember NOT all homeowners will qualify and there are many ropes to trip you up.
Here are some key points: Submit complete paperwork. Ask your bank what they will need and be sure to write your loan # and name on each page. (There is a good list of required paperwork in the article.)
Be persistent! Follow up to make sure they received your paperwork. Call and call again. We you turned down? Ask why! Also refer to the HAMP and HAFA programs to ensure the bank is following correct protocol. Do you qualify for these programs?
Be concise! To the point and no more.
Get help. Call A HUD counselor 877-601-4673 and the Colorado Foreclosure hot-line (bottom of this blog) now. Learn about your options and seek help. Short sale? Deed in Lieu? Foreclosure? There are different ramifications for each of these. Tips and info here. Foreclosure prevention tips
Beware of scams! Don't pay anyone for upfront services or give them valuable information.
Want to talk with a Denver Short sale Certified realtor? Give me a call!
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