Avoid this disaster.

Things to avoid while trying to save your home.

Many homeowners who are trying to save their home from foreclosure try making contact with the lender on their own after the situation has gone too far.  They put themselves in the position of having to agree to and sign any agreement put in front of them.   Here are some things to avoid while attempting to handle the problem on your own: 

• Don't agree to the first thing your lender tells you to do. It may be tempting to end your misery by signing a payment arrangement sometimes called a forebearance agreement, without giving much thought to what you are doing.  The lender is going to put forth a plan that is more beneficial to them than to you.
• Don't argue with the lender. You don't want to antagonize the lender when you are trying to get them to agree to what you can afford.  It can be frustrating trying to navigate the complicated process the lenders servicing department has created.  It is a large system and difficult to move. 
• Don't be dishonest when negotiating. You need to be truthful whether or not you plan to do the negotiating yourself, use an attorney, or one of our services.
• Before you use any service, make sure they are confident they can help you. Don't make a deposit, or sign any agreement for loan modification services unless the entity you are dealing with can show you why they believe they can help you.
• Understand what your lenders requirements are for modification. You may have been approved for the loan modification, but the transaction is not over. Your lender most likely will need copies of your bank statements, W2s and other paperwork. It is up to you to get it to him or her as soon as possible. Failure to submit certain qualifying documents could cause your transaction to stall, and this could be disasterous for you.