For many homeowners, getting a home loan modification seems like a very confusing ordeal and they are not sure how to proceed. However, it is actually a very manageable process. It is true that it is not easy but lenders and banks are not making their decisions about whether or not to modify based on some secret criteria. Simply put, all they care about is how much of a risk you pose.Some lenders are very selective about who they work with, but...more
Many of us Americans have watched the long and animated national debate on the confusion and complexity of President Obama's loan modification program. The basics of Obama's loan modification program deals with detailing the bail out of homeowner's from the potential loss of their homes. All that the debate has really fueled though, is more wide spread confusion of how the disbursement of the nearly nine million dollars will actually be put into...more
Many homeowners are not aware of the need to write a hardship letter as part of their home loan modification application. Those who know they need one are often not sure of what to put in it.Writing this letter will take time and effort, but it will be worth your trouble when you are approved for a loan modification that enables you to keep your home. The hardship letter lets your lender know you really do qualify for this program. It is like presenting evidence to your lender. It is also important that the letter convince the bank that you are suffering true hardship. Pay attention to detail when you are writing this letter, it will require all your attention, so you bank will know that you are serious about your request.There are variations to hardship letters, but there are some common elements that must be in them.1. Get Prepared. Before you start writing, get together all your financial records for the last year, just like you do when you are doing your taxes. Organize them so the most important record is on the top so you can see it and refer to it during writing. The hardship letter had to include a lot of details so the bank will understand the true nature of your financial...more
When it comes to your wedding services alone, nobody wants to spend an arm and a leg on this and still have to foot the bill for the reception. Really it depends on where you want to your wedding to be and what type of service that you are hoping to have. There is a way to satisfy all types of weddings as long as you know what your options are....more
I have every confidence that a sentences punctuation tool will enrich your way with words without your even trying. Putting our thoughts into the right words enables us to reach many of our goals: our career, our public life, our private life… Surely you are interested in how others will judge what you write; so spend a few moments...more
When the first stages of discussions and talks got underway on Obama's loan modification program, many people responded with good cheer and a healthy dose of curiosity. Many politicians were uncomfortable in their division of their stance against, and with Obama's loan modification plan, that would provide incentives for lenders to help homeowners keep or modify their mortgages on their homes. There of course, are stipulations for the handing out and the usage of these loans. This includes a lending company to stimulate the housing economy by loan modifications to a homeowner deemed eligible to receive the loan. Each year the recipeints could receive up to a thousand dollars for up to five years in the maintenance of their mortgage. Within the early stages of this loan modification plan, many people were already bailing out of their mortgages by the thousands and leaving lenders with a bad taste for helping America's homeowner at all. On the other side, with money already being given to these large corporate banks, holding companies and investment companies, most American's were already losing their faith in the companies who handle, negotiate, process and finalize their loans....more
As foreclosure rates are outpacing the modification rates, homeowners are seeking all sorts of recourses available to them to save their homes. Either through loan modification, forbearance plans or payment plans owners are finding solutions to their...more
How are you showing up for your game, or even for training. Are you showing up to win? Are you showing up the same way each and every game, ready to perform, like a champion?Many athletes are reactive in their emotions and therefore placing control...more
Homeowners are facing the worst crisis due to the present recession and the economic crisis. Due to the ever increasing foreclosures, house prices are at an all time low. This is because of the depressed sentiment that even one foreclosed home can...more
For most of us, the largest (and most necessary) expense we have every month is the payment on our home mortgage. In recent economic developments, there has been a credit crash and well as a home market crash, causing it to be very hard for some of...more
There are three things the banks are looking for in a successful hardship letter, and the better you can express why you need the loan workout and what makes you a good candidate to receive a modification, the more likely you are to get the...more
Homeowners just like you might be able to get a mortgage loan modification under Obama's federal plan. Most banks and lenders are ready and willing to process all applications for this program, the beauty of which is its aggressive nature when it...more